For Immediate Release

May 3, 2007 Contact: Rob Hall
CU Environmental Center Energy Program Manager
(303) 492-8308, robert.hall@colorado.edu

UCSU bill a major step toward CU-Boulder’s carbon neutrality goal

Will fund greenhouse gas reduction projects for years to come

BOULDER -- Last Thursday, the University of Colorado Student Union (UCSU) voted unanimously to approve the Energy and Climate Revolving Fund, marking a significant long-term commitment to student government’s carbon neutrality goal for student-managed buildings. The $500,000 fund will enable the managers of UCSU buildings to pay for energy efficiency and other measures that reduce greenhouse gas emissions responsible for climate change while saving money.

UCSU building managers will use the Energy and Climate Revolving Fund (ECRF) as a source of low-interest loans to pay for greenhouse gas reduction projects that will ultimately save students’ money in reduced energy costs over time. These savings will then be used to pay back the individual loans, allowing the fund to remain whole and support ongoing and future efficiency projects. Many of the projects being considered will have payback periods of just a few years.

“The creation of the ECRF is a win-win opportunity for UCSU as it will save hundreds of thousands and even millions of dollars for students in the long-term, as well as help us work toward our goal of carbon neutrality,” said UCSU legislator and sponsor of the bill, Taylor Portman. “The ECRF will be a very valuable asset to UCSU for decades to come.”

Along with Portman, the bill was also sponsored by Tri-Executives Ashley Nakagawa and Andrew Atchison, as well as UCSU legislator Scott Eachron.

The ECRF was largely inspired by the success of the Energy Efficiency Fund (EEF), passed by the UCSU in 2004, which annually allocates between $115,000-$125,000 for efficiency projects. In addition to preventing the release of about 125 tons of emissions that cause climate change, EEF projects are reducing energy costs by over $30,000 per year, freeing these funds for other student-fee supported interests. Unlike the ECRF, the Energy Efficiency Fund did not require that building managers pay the money back, but depended on renewed funding each year

The ECRF is a major step in the university’s quest for carbon neutrality. Earlier this year, the UCSU became the first student government in the nation to pass legislation requiring that its student-run buildings become carbon neutral.

“Passing the carbon-neutral bill showed that students wanted to do something about climate change,” said Rob Hall, energy program manager at the CU Environmental Center. “Passing this second bill to fund energy reduction projects reinforces that commitment and shows that they weren't just grandstanding about carbon neutrality. They’ve now created a significant means to reach the goal they’ve set.”

The $500,000 Energy and Climate Revolving Fund was allocated from the Special Operating Reserve (SORE), the student government’s rainy day fund.

The revolving fund model was pioneered by Harvard University, the University of Michigan and other campuses where substantial savings and emission reductions have resulted.

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