In its continued effort towards achieving a "greener" campus, Lethbridge College has pledged $250,000 toward the Billion Dollar Green Challenge.
The Challenge encourages post-secondary institutions to join together and invest a combined total of $1 billion dollars in self-managed revolving funds that are dedicated to improving energy efficiency on campus. The college will be a charter member of this global effort in support of sustainability.
"Lethbridge College is the only institute in Alberta to make this commitment and one of only three in Canada," says Peter Leclaire, interim president and CEO of Lethbridge College. "We're excited to be able to support projects that work towards saving energy, reducing carbon emissions and lowering energy expenses while creating a green revolving fund for future sustainability upgrades along the way."
Leclaire went on to say "the value of being part of this group is the expertise we can tap into. The information that others have gained through their own projects is shared helping our organization make good decisions with limited resources. We are not going it alone but are one of many contributors to the buildup of knowledge."
A green revolving fund (GRF) is an account set up to loan money to approved sustainability projects. The savings achieved as a result of the project are applied to the loan through internal account transfers.
Within the next three months, Lethbridge College will establish a committee to lead the process of establishing the fund guidelines and operating procedures. The committee will include administration, faculty, staff, students and external stakeholders with sustainability expertise. A formalized guiding document will be in place within nine months and at least one project is expected to be funded by this time next year.
The Challenge was launched in October 2011 with 32 Founding Circle institutions, which included Dartmouth, Harvard and Stanford. Lethbridge College will join what has grown to 38 institutions with $83 million overall committed. Other Canadian institutes that have committed are the University of British Columbia and Thompson Rivers University.