Common Energy Climate Trust Project
From Common Energy UVic
The Common Energy Climate Trust Project (CECT) is an Integrative Project that will work towards the development of a revolving loan fund at UVic to achieve CO2 equivalent emission reductions.
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[edit] Overview
How do we develop a financial institution that will help to fund projects to reduce emissions, develop a sustainable region, and move UVic beyond climate-neutral?
Many infrastructure changes and technologies that achieve emissions reductions require a large capital investment. Despite the high savings associated with these projects over the long term, the high initial investment is a major barrier. This hinders the ability of interested parties to achieve emissions reductions. A revolving fund is designed to invest in these projects, such that the person or institution who receives the loan returns their savings to the fund until it has paid off the initial loan plus a designated interest rate. In this way, the revolving fund will remove barriers for emissions reductions.
The fund is one of many methods to be employed by Common Energy to support and implement projects financially. It will specifically target projects that provide a return on investments in the form of savings. Other forms of funding will be sought out for projects that do not fit this criteria.
The fund will have many resounding benefits within the community. It will stimulate economic development and training in sustainable technologies, infrastructure and businesses. It will also provide an opportunity for students and community members to gain experience and understanding of technical and economic issues regarding sustainability initiatives.
[edit] Research Areas
Funding sources
There are three major potential funding categories for CECT currently under investigation
- Seed money - From the university, businesses, government etc.
- Continuous, ongoing revenue - Student fees, carbon fees (essentially an internal tax)
- Non-continuous sources of funding - one time donations from individuals, businesses or institutions
This is currently being researched by the CECT Project Group. Questions under investigation include: how different funding types affect the possible governance structure of CECT, and whether or not CECT is the best direction for these funds to flow. For example, if we were to obtain student fees, would we need elected student representation on the board, and would this be the best use for this money?
Governance Structures of the Trust
- What is the best governance structure for CECT that all involved parties can agree upon?
- Will we have an elected board structure with CE, and other student representation?
- Will we include business representatives in Victoria on a board, or an advisory board?
Policy
- How will we make decisions as to which projects to fund?
- Will there be a policy based on the length of time a project will take to pay back the loan?
- Will we include other sustainability projects as well as our emissions reductions projects?
[edit] Tools and Collaboration
The CECT project team looks forward to collaborating with the Working Groups to identify and select projects that are appropriate for this funding type. We are also very excited about the potential for working with UVic's administration and the greater business communities in Victoria on this project.
This page will be updated as the collaborations begin to take form. If you are interested in collaborating on this project please contact the coordinator, Heather English at cect@uvic.commonenergy.org
[edit] Knowledge Base
The Knowledge Base is a source for climate change information, including summary and analysis materials assembled by Common Energy and information researched by individuals and Working Groups. It also includes links to climate change expertise and other groups working on related issues.
[edit] Documents
[edit] Project Proposal Outline
[edit] Meetings
Meetings will also be posted on the meeting page, and sent out over the mailing list.
The next meeting is TBA by the Coordinator.
[edit] Minutes
[edit] Contact
| Heather English cect(at)uvic.commonenergy.org |
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[edit] Research Briefs
One or two page condensed package of information that can aid us in making a decision on particular topic. Each brief should summarize the major issues that will enable the group to make a decision and make recommendations for how the group should proceed.
Funding sources; student fees: Should the CECT pursue funding through student fees? Mark Chandler
Governance; Incorporation vs. non-profit: Naomi Devine
Project Selection Policy: How do we develop policy that will guide the development and decisions of the Common Energy Climate Trust and that will enable a board to make effective decisions governing the allocation of funding? How can other higher education institutions that have developed similar projects inform the policy of CECT? Heather English
Funding Sources; carbon fees: How can an environmental user-fee structure and a self-tax on GHG emissions from univerisity operations provide steady, on-going sources of revenue for the Climate Trust? Emily Keller
Governance; a comparison of different governance structures: Jamie Biggar
CECT Project Comparison Brief: An Analysis of the Return on Investments, GHG reductions, controversies, project type maturity, and other sustainability benefits of specific projects Heather English
