The Billion Dollar Green Challenge initiative advocates for the efficacy of green revolving funds (GRFs), and works to increase the number and size of self-managed green revolving funds at nonprofit institutions across the United States. The Challenge provides support for new and established green revolving funds at colleges and universities. A GRF is a financing mechanism targeted to campus climate action projects that lower emissions, increase capacity for future projects, and reduce operating costs. The Billion Dollar Green Challenge was founded by the Sustainable Endowments Institute. Second Nature oversees and manages colleges and universities within the initiative.
Second Nature is working closely with Sustainable Endowments Institute (SEI) on the Billion Dollar Green Challenge. Second Nature is supporting and providing resources for higher education institutions, while SEI continues to support international higher ed, municipalities and other nonprofits institutions involved in the challenge.
The goal of the Billion Dollar Green Challenge is for colleges, universities, and other nonprofit institutions to invest a combined total of one billion dollars in self-managed green revolving funds.
Goals for the Climate Leadership Network in continuing the Billion Dollar Green Challenge include:
- Supporting Higher Education Institutions to lower their carbon emissions,
- Recognizing and supporting colleges and universities with successful GRFs,
- Providing the business case for GRFs for Senior Leadership (college and university presidents and chief business officers)
- Providing resources for creation and management of GRFs for implementation liaisons and climate change staff
Billion Dollar Green Challenge participants gain access to:
- Resources on how to create and manage a GRF including case studies, best practices, webinars, and staff support.
- Access to the Green Revolving Investment Tracking System (GRITS), a web-based tool to plan, track, and manage GRF projects (at a reduced cost).
- Recognition via an online badge that will be displayed on the Reporting Platform
- Opportunities for senior leadership to network with and learn from their peers, both at the annual Summit and through direct communications.
Based on network interest and participation in the Billion Dollar Green Challenge, project deliverables in future phases may include:
- Creation of more robust supporting materials and resources
- Connections between the GRITS platform and Second Nature’s Reporting Platform
- Increased opportunities to join the Challenge
- Full Implementation Guide
- Introductory Implementation Guide
- Greening the Bottom Line 2012
- Investment Primer
- Sample GRF documents
- Boston University
- California Institute of Technology
- University of Colorado at Boulder
- Denison University
- Harvard University
- Iowa State University
- Lane Community College
- Stanford University
- Weber State University
- Western Michigan University
US Higher Ed. institutions can get more information or choose to participate in the Billion Dollar Green Challenge by emailing firstname.lastname@example.org