It encourages colleges, universities, and other nonprofit institutions to invest a combined total of one billion dollars in self-managed revolving funds that finance energy efficiency improvements.” The funds loan money to specific projects, which they repay through an internal account transfer from savings achieved in the institution’s utilities budget. It was launched by the Sustainable Endowments Institute, in collaboration with 16 partner organizations.
- Green Revolving Investment Tracking System (GRITS) – A web tool that helps institutions manage and analyze project-level energy, financial and carbon data. GRITS provides an intuitive interface to better track performance data from energy efficiency and other resource conservation measures. It also offers access to a Project Library, which includes the name of the institution, description, and detailed performance data for each of the more than 1,000 projects currently being shared. Subscriptions to GRITS through the Affiliates program are open to any institution, whether or not it has a revolving fund, and allows for those outside the Billion Dollar Green Challenge to access GRITS. Recordings and material from events and webinars are available on the website, e.g., “Implementation Strategies for Campus Green Revolving Funds”. At least $114M in revolving funds have been committed to date.