R2: Resolution to Promote Energy Efficiency at Cornell by Establishing a Revolving Loan Fund for Energy Efficiency and a Small Energy Project Fund

Whereas President David Skorton has commended the University Assembly for “taking a leading role in advocacy for sustainable practices” and has encouraged the UA to present “fresh perspectives” on how those practices can be put in place at Cornell; and

Whereas the UA has charged its University Sustainability Committee (USC) with making recommendations to the UA concerning the “development and implementation of community sustainability issues, policies and programs”; and

Whereas the University faces an increasingly tight budget; and

Whereas traditional investments no longer have the certainty they once did; and

Whereas energy efficiency projects have a near certain and often significant, return; and

Whereas President David Skorton has signed the American College and University Presidents Climate Commitment, hereby pledging to make Cornell University’s campus carbon neutral; and

Whereas there are many cost-effective ways to increase energy efficiency on campus, and these improvements would save both money and energy;

Be it therefore resolved that the University should establish a Revolving Loan Fund for Energy Efficiency which will present the following opportunities for establishing sustainable practices in the university:

• This fund will be a specified pool of money available in the form of loans to the Utilities Department to invest in energy efficiency projects;
• These projects will reduce the operating costs of the central utilities allowing them to pay back the loan through their energy savings over an established time period;
• The fund will be managed in a way consistent with the source of revenue, be that in the Budget Office or by a separate committee or staff person designated by the University.

Be it therefore further resolved that the University should establish a Small Energy Project Fund which will present the following opportunities for establishing sustainable practices in the university;

• This fund will be a pool of money available in the form of loans to any department wishing to invest in energy efficiency projects;
• These projects will reduce the operating costs associated with the patron department, allowing the Budget Office to pay back the loan based on estimated energy savings over an established time period;
• The fund will be managed in a way consistent with the source of revenue, be that in the investment office or by a separate committee or staff person designated by the University. Students, faculty, and staff will be included in the management process, both to include voices from across the Cornell community and to serve as a learning process.