Higher education institutions (HEIs) in England will benefit from a new fund to provide repayable grants for projects that reduce greenhouse gas emissions. Projects funded under the new scheme will reduce emissions of greenhouse gases, including carbon dioxide, from both existing and new buildings, and enable HEIs to save money in the long term and to benefit from carbon trading. Projects might include better energy management, on-site renewable energy generation, waste management, and sustainable construction and refurbishment.
This revolving green fund will be a partnership between the Higher Education Funding Council for England (HEFCE) and Salix Finance Ltd. with both parties committing significant funds. HEFCE distributes public money for teaching and research to universities and colleges, and Salix Finance is an independent, publicly funded company set up to accelerate public sector investment in energy efficiency technologies. HEFCE and Salix expect a combined total of around GBP 30-40 million to distribute over a three-year period from 2008.
The proposals for the fund, outlined in HEFCE’s consultation on the fund, will have two strands:
- An institutional small projects fund will provide higher education institutions with money to set up their own ring-fenced fund for proven energy efficiency projects.
- A transformational fund will be available for the institutions to tackle larger, innovative projects which will transform their approach to managing energy consumption and reducing emissions.
The United Kingdom has set a goal to cut its carbon dioxide emissions by at least 60% by 2050. Annual energy costs for the English higher education sector are currently around GBP 250 million, resulting in carbon dioxide emissions of around 1.6 million tonnes.
For more information, visit:
Higher Education Funding Council for England
Bristol, United Kingdom
Salix Finance Ltd.
London, United Kingdom