NACUBO’s Financing Sustainability on Campus
by Beth Gray
In 2009 the National Association of College and University Business Officers (NACUBO) published a resource entitled, Financing Sustainability on Campus. Ben Barlow, a consultant for Second Nature, and Andrea Putman, Director of Corporate Partnerships at Second Nature, team up to author this resource and do a very good job at exploring a variety of funding options that can be helpful in pushing forward with sustainability initiatives. At just over 100 pages, this publication is a worthwhile resource for anyone tasked with implementing sustainability initiatives on a college or university campus.
Barlow and Putman advise readers on how to identify and evaluate opportunities for sustainability initiatives. The authors point out that there may be opportunities for sustainability hidden on campuses that would require no funding at all. For example, proper maintenance of HVAC units and other such systems may save the institution money while at the same time creating a more environmentally friendly campus. For initiatives that will require funding, however, Financing Sustainability on Campus provides a wealth of information.
The authors explore “revolving loan funds” and highlight the examples found in Harvard’s $12 million Green Campus Loan Fund (GCLF) and Macalester College’s Clean Energy Revolving Fund (CERF), both of which have been very successful in helping fund sustainability initiatives at both schools. A variety of government grants are available for colleges and universities interested in pursuing sustainability initiatives on campus and the authors provide an entire chapter detailing several of them and how to go about applying for them. Bonds, leases, and even energy performance contracts provide additional funding streams and Barlow and Putman spend a chapter on each. The authors also explore the various tax credits that are increasingly available and may help offset the cost of financing sustainability initiatives on college campuses. Power purchase agreements (PPAs), energy hedges, and renewable energy credits (RECs) are also each given a full chapter in the work. Finally, the authors explore the opportunities found in purchasing carbon offsets.
Financing Sustainability on Campus is an invaluable resource for anyone interested in how to fund sustainability initiatives on college campuses. The authors are incredibly knowledgeable about the topic and provide a wealth of information and additional resources throughout the publication. From case studies and examinations of best practices to an appendix packed with information sources and a directory of providers, Barlow and Putman have put together a highly valuable resource in this work. I highly recommend this resource to any college or university business officer, president, sustainability director, or other staff member tasked with implementing sustainability initiatives on campus.
Tags: Andrea Putman, Ben Barlow, Financing Sustainability on Campus, Harvard's Green Campus Loan Fund, Macalester College's Clean Energy Revolving Fund, National Association of College and University Business Officers, Second Nature
