Hey SPEAR-ites! See below for the official charter of the Green Fund. The Green Fund is an allotment of money that is used solely for the purpose of making Vanderbilt more sustainable.
Vanderbilt Green Fund Charter Proposal
The Vanderbilt Green Fund (VGF) will systematically reduce Vanderbilt’s greenhouse gas emissions by funding projects with both environmental and economic benefits, and engaging students, faculty, and administration in the process of transitioning to a clean and sustainable energy future.
The fund provides up-front capital to projects on campus that increase energy efficiency and sustainability efforts in the attempt to reduce energy consumption on campus. The fund is constantly revolving as it is used, earned back, and reinvested. The VGF Committee acknowledges that in many cases projects may reduce energy consumption but realize no economic savings due to increased energy costs. Vanderbilt Housing and Plant Operations will make an annual input of $75,000, as budgetary resources of Plant Operations and the Office of the Dean of Students allow. Additionally, the fund is open to any additional donations from administrative reallocations, student fees, university departments, grants, alumni, payroll deduction for employees, and the University endowment.
III. Eligible Projects:
Projects for the VGF should aim to accomplish at least one of the following:
- Reduce greenhouse gas emissions
- Reduce energy use
- Install clean sources of energy
- Reduce water use
- Reduce sewage or pollutants
- Spur behavioral change to reduce energy or material consumption through education VGF Committee will give preference in funding projects that have both environmental and economic benefit to Vanderbilt University. IV. Committee Structure: The Vanderbilt Green Fund Committee will be comprised of six administrators, six students, and one faculty member. Together, they will come to make recommendations on viable projects for implementation. • Administrative representation on the Committee will include a representative from the Sustainability Office (Andrea George), Plant Operations (Mark Petty), Campus Energy Manager (Darren Bevill or Mitchaell Lampley), Director of Housing (Jim Kramka), and representatives from the Dean of Students (Jack Davis & Clayton Arrington). • Student representation on the Committee will include the President of VSG of their designee, the President of SPEAR or their designee, the President of the Alternative Energy Club or their designee, the VSG Environmental Affairs Co- Chair, and two students appointed by VSG through an application process. Vanderbilt Student Government will be responsible for selecting the student representation for the committee through an application process administered by VSG.
• Faculty representation on the Committee will be the presiding Chair of the VU Environmental Advisory.
• The Sustainability and Environmental Management Office will convene meetings and organize the activities of the board.
V. Decision-making Process:
The committee of thirteen members will take careful consideration of logistical and economic concerns for each project. Any student, faculty, or group associated with the university can propose a project by submitting it to the VGF Chair. The VGF committee will implement projects that gain consensus when funds are available and will meet at least once a semester regardless of current progress on projects, with additional meetings called as needed by the VGF Chair.
Proposed projects will be reviewed based on responses to seven factors:
- The Project Description: A basic description of the project that identifies preliminary material, location and informational requirements.
- The Project Goal: A statement of which principle of eligibility the project falls under and a description of how this project will meet that goal.
- The Environmental Impact: The projected impact the project will have on the university’s energy consumption, carbon footprint, and general sustainability.
- The Resource and Cost Savings: The projected annual resource, and therefore projected monetary savings of the project.
- The Cost: An anticipated budget of: construction costs, design costs, construction management costs (if applicable), demolition costs (if applicable), inspection fees and other extraneous costs.
- The Payback Period: The projected payback time based on the calculated savings.
- The Schedule: The projected schedule and timeline for design and implementation of project.
Whereas the purpose of the Vanderbilt Green Fund is to conserve utility expenditures, the fund shall incentivize this type of conservation. Each type of utility that can be conserved is quantifiable with a monetary value. If a project has measurable utility savings, 30% of that conservation’s monetary value every year is donated to the Vanderbilt Green Fund from Plant Operations or whatever other entity is experiencing utility savings. This action is to be taken annually after thorough measurement without regard to the size of the savings. Plant Operations, Green Fund organizers and the students who propose the projects will agree before implementation on how to establish the utility savings of each project to determine the 30% payback into the Fund.