In an effort to reduce their carbon footprint and save money, many colleges, universities and nonprofits are looking for ways to finance much needed energy efficiency upgrades for their campuses and offices. The Sustainable Endowments Institute (SEI) has partnered with 15 other organizations (see the full list below) to help institutions realize their energy efficiency goals.
SEI's project, the Billion Dollar Green Challenge is promoting sustainability by investing one billion dollars in "green revolving funds" that are loaned to participating groups for energy efficiency upgrades. These funds are then repaid by the institutions following their utility savings. The challenge aims to help academic institutions and nonprofit organizations reduce their energy consumption while also reinvesting the subsequent savings for future improvements. To date, 34 institutions throughout the U.S. and Canada are participating in the challenge.