A quick update on how the Sustainable Campus Fund is being allocated as of the end of April 2017.
The Sustainable Campus Fund is an internal investment vehicle that provides financing to parties within the University for implementing energy efficiency, renewable energy, and other sustainability projects that generate cost savings. It was approved by Estates Committee in May 2016 with £2.75M allocated for 3 years commencing in 2016/17 and a Year 1 budget of £750,000.
Staff and students from around the University have put forward ideas via an online platform. A network of over 100 Energy Coordinators has helped to disseminate information about the fund. The fund has helped to generate broader interest and awareness in energy efficiency.
Projects proposed are screened by a joint Estates-SRS working group using a points-based system that considers financial payback and minimum ROI of 6%, carbon savings, match funding, innovation, creativity, collaboration and additionally.
The original business case was that investing £2.75M over 3 years would bring estimated financial returns of £675,000 per annum by Year 3 in addition to reducing our carbon emissions. For the whole fund, a simple payback period of 5.1 years, NPV of ca. £8.2M and an Internal Rate of Return of 30% were originally estimated.
Performance is strong. At the end of 2017 Quarter 3:
Savings are being achieved through a wide spread of projects such as: innovations in fume cupboards (constant to variable air flow); lighting replacements; use of sensors; a helium recovery project; replacement of UPS; use of closed circuit chillers. A freezer fund has been established to support replacement to more energy efficient models. A small projects fund is also available as part of the wider fund to support contributions for more efficient equipment. This has supported purchase of new drying ovens in various locations.
Applications can be made on our website; simply fill in your contact details in the spaces provided. Colleagues from SRS and Estates will support you with developing the project.
The Fund performance is reviewed quarterly. Information on potential pipeline projects is included in forecasting and updated to compare current assumptions against the original proposal. Year 1 is on track and Year 2 is expected to be on track while there are some uncertainties (as to be expected) in projects and their performance for Year 3.
Michelle is responsible for the organisation, planning, management and delivery of comprehensive and effective social responsibility and sustainability programmes in line with the publicly expressed ambitions of the University.