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.

In February 2009, President Obama signed the American Recovery and Reinvestment Act of 2009, commonly known as the Recovery Act.  According to the Administration’s website established to track the Recovery Act and the funds allocated from it, the purpose of the Act is three-fold: to “create new jobs and save existing ones,” to “spur economic activity and invest in long-term growth,” and to “foster unprecedented levels of accountability and transparency in government spending.”  The Recovery Act included more than $80 billion in clean energy investments.  As institutions of higher education begin addressing their own carbon footprints and the issues related to climate change in general, there are opportunities for them to apply for funds through the Recovery Act in order to implement projects that can help.

Various government agencies have been provided with portions of the total allotted in the Recovery Act and institutions of higher education may find funding for their sustainability projects through these agencies.  For example, the Department of Energy’s Office of Energy Efficiency and Renewable Energy (EERE) is responsible for some $16.8 billion of Recovery Act funding.  Included in that total is some $11.3 billion for projects related to weatherization, state energy programs, and conservation block grants.  Additionally, according to Financing Sustainability on Campus, a National Association of College and University Business Officer’s publication, the Recovery Act allocated $3.1 billion to the State Energy Program (SEP) “for onward allocation by state energy offices to higher education institutions and other organizations within their jurisdictions.” 

The Environmental Protection Agency (EPA) was also tasked with administering more than $7 billion in funding for projects and programs under the Recovery Act.  The EPA’s website provides detailed information on how to apply for grants as well as contracts related to the Recovery Act funds it is administering.  A number of other specific projects related to sustainability have been targeted by the Obama Administration and provided with Recovery Act funds for implementation.  To learn more about the funding that may be available, visit http://www.grants.gov/. 

Without question, higher education is in a unique position to make meaningful progress in the battle to combat climate change.  As institutions of research and learning, colleges and universities have the intellectual capital to identify and implement measures that will have a positive effect on the state of our environment.  Often the largest barrier is financial.  With the American Recovery and Reinvestment Act of 2009, President Obama has provided substantial funding opportunities that can help such institutions overcome this barrier and move forward with projects related to sustainability.  Identifying which agency or organization has the funds that are most suited to help fund a project is the first step in the process toward applying for and hopefully acquiring the money necessary to begin projects on campus related to sustainability.

The National Association of College and University Business Officers (NACUBO) is a great resource for anyone in higher education.  In 2009, NACUBO teamed with Second Nature to publish a book titled, Boldly Sustainable: Hope and Opportunity for Higher Education in the Age of Climate Change.  The book, written by Second Nature leaders Peter Bardaglio and Andrea Putnam, is a must-read for anyone interested in the issue of climate change as it relates to higher education.  Virtually every aspect of the higher education environment is addressed from the perspective of climate change.  From sustainable business models to greening dining halls and dormitories, the authors have managed to create a veritable encyclopedia of sustainability for higher education leaders interested in sustainability.  In September 2009, American Public University System’s (APUS) President, Wallace Boston, Jr., published a thorough review of Boldly Sustainable on his blog.  I encourage you to read President Boston’s thoughts on the work and take a look at Bardaglio and Putnam’s book for yourself.  I am sure that you will find it worthwhile.