Emory University has announced plans to launch a new $1.5 million Sustainability Revolving Fund, a self-replenishing program that will be used to fund capital-intensive energy and water efficiency projects across campus.
The program is made possible by a $500,000 grant from The Kendeda Fund, an Atlanta-based private family foundation that invests in transformative leaders, ideas and community-driven solutions. The grant was matched by a $1 million investment by the University.
With that commitment, Emory also joins the Billion Dollar Green Challenge, led by the Sustainable Endowments Institution, which works with colleges, universities and other nonprofit institutions to develop self-managed revolving fund programs to finance energy efficient improvements.
Through revolving fund programs, participating institutions achieve reductions in their operating expenses and greenhouse gas emissions, while reinvesting the savings that are realized in future self-funded projects — a recycling of green investment.