Vassar College
IN-40: Sustainability Projects Fund
| Status | Score | Responsible Party |
|---|---|---|
|
0.50 / 0.50 |
Cora
Kenfield Director of Sustainability Office of Sustainability |
"---"
indicates that no data was submitted for this field
Name of the institution’s sustainability projects fund:
Green Reinvestment Fund
Which of the following best describes the primary source of funding for the sustainability projects fund?:
Donation driven
Year the institution’s sustainability projects fund was established:
2,020
A brief description of the institution’s sustainability projects fund:
The Green Reinvestment Fund (GRF) is an internal revolving loan fund for Vassar’s energy efficiency projects. Cost savings from projects funded through the GRF are repaid to the fund until the total project cost + a 10% surcharge are recouped. This ensures continued reinvestment in sustainability.
A brief description of the multi-stakeholder decision-making process used to determine which projects receive funding through the sustainability projects fund:
The Green Reinvestment Fund has a strict set of management practices to ensure that contributions are stewarded responsibly, drawing from best practices and using the Green Revolving Investment Tracking System (GRITS). A steering committee for the GRF, comprised of campus administrators, the Director of Sustainability, a faculty representative, and a student leader, oversees project selection.
Before a project is eligible for funding from the GRF, a detailed application must be completed with estimates of cost savings, energy reduction, climate impact, and co-benefits with existing operational efforts. These estimates are then evaluated by the Office of Sustainability and the Energy Manager to ensure accuracy. Finally, the GRF Committee votes on which projects to fund, governed by a strict rubric established when the GRF was launched.
Each quarter after a project is completed, staff from Facilities Operations and the Office of Sustainability review the performance and impact, aided by use of the GRITS platform noted above. Identified savings for that period are then repaid to the fund to ensure prompt, continual reinvestment in sustainability.
Impacts from individual projects as well as the fund at large are reported publicly to guarantee transparency, promote accountability, and demonstrate the replicable impact from each project.
Before a project is eligible for funding from the GRF, a detailed application must be completed with estimates of cost savings, energy reduction, climate impact, and co-benefits with existing operational efforts. These estimates are then evaluated by the Office of Sustainability and the Energy Manager to ensure accuracy. Finally, the GRF Committee votes on which projects to fund, governed by a strict rubric established when the GRF was launched.
Each quarter after a project is completed, staff from Facilities Operations and the Office of Sustainability review the performance and impact, aided by use of the GRITS platform noted above. Identified savings for that period are then repaid to the fund to ensure prompt, continual reinvestment in sustainability.
Impacts from individual projects as well as the fund at large are reported publicly to guarantee transparency, promote accountability, and demonstrate the replicable impact from each project.
Optional Fields
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