Penn Joins “Billion Dollar Green Challenge”
The University of Pennsylvania is a Charter Institution of the Billion Dollar Green Challenge, organized by the Sustainable Endowments Institute. With its Green Fund, Penn counts as one of the 42 institutions that have collectively committed $88 million to the Challenge.
The Billion Dollar Green Challenge 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. Participating institutions will achieve reduction in operating expenses and greenhouse gas emissions, while creating regenerating funds for future projects.
The Sustainable Endowments Institute, in collaboration with 15 partner organizationshas launched The Challenge to help nonprofit institutions achieve sizable energy savings through the use of green revolving funds.
Penn’s Green Fund (an initiative of Penn’s Green Campus Partnership and funded by the Division of Facilities and Real Estate Services) is designed to seed innovative ideas from Penn students, faculty, and staff with one-time grants of as much as $50,000.
Proposed projects must support goals and objectives outlined in Penn’s Climate Action Plan, a long-range strategy launched in 2009 to reduce the University’s carbon footprint and enhance its overall sustainability. Read more about the Green Fund and the 41 approved projects to date.