Successful investment in carbon reduction

Posted by ap507 at Jun 19, 2014 11:26 AM |
University of Leicester Green initiative recognised

Following an evaluation of the first three rounds of the HEFCE Revolving Green Fund, which confirmed the effectiveness of the scheme, a further £34 million will be invested.

The Revolving Green Fund (RGF) provides recoverable grants to help higher education institutions (HEIs) in England reduce carbon emissions and save money. Since 2008 there have been three rounds of the Fund. The next round will be run in partnership with Salix Finance a company which specialises in providing interest free loans to public sector organisations for energy efficiency.

In this round of the RGF, higher education institutions can seek funding to implement both small and large scale carbon saving projects and, for the first time, water reduction projects. Institutions can seek funding for small scale projects between £50,000 and £750,000 and around £2 million for large scale projects.

The review carried out by Blue Alumni Management Consultants confirms that HEFCE investment in carbon reduction is effective and achieving significant carbon and financial savings.

The RGF has raised the profile of CO2 reduction with senior management teams in universities, levered £32 million so far from their own and partner resources, and enabled carbon reduction projects that otherwise may not have gone ahead.

The report provides an understanding of the outputs from all RGF rounds and includes six case studies illustrating what has been achieved so far.

University of Leicester Carbon and Energy Manager Chrispal Anand (pictured) said: “Energy efficiency is a key part of energy management and carbon reduction. Over the years, Revolving Green Fund has assisted in funding energy saving opportunities both in old and recently built buildings.”