Caltech was the first institution to make the commitment to use self-managed green revolving funds for sustainability improvements as part of the challenge. These profitable investments help create green jobs in campus communities while lowering operating costs on college and university campuses.
"We're transforming energy efficiency upgrades from perceived expenses to high-return investment opportunities," said Mark Orlowski, executive director of the Sustainable Endowments Institute, which is coordinating the challenge along with 13 partner organizations, in a statement. "Caltech should be commended for rising to the challenge and investing in energy efficiency improvements on campus."
The Billion Dollar Green Challenge launched publicly on October 11. Guided by a 34-member expert advisory council, the challenge offers technical assistance, best-practices sharing, access to an advanced web-based tool for managing green revolving funds, peer institutions' project-specific data, and invitations to specialized webinars and conferences.