Penrith council explains how its sustainability revolving fund is getting climate projects off the ground. Watch the zoom recording from February 23rd webinar with Krystie Race, Sustainability Research Planner, Penrith City Council below.
Webinar Agenda
– How was the fund set up & ongoing management structure
– What are the selection criteria for project funding
– How to calculate & report on savings
– Learnings for other councils
SUSTAINABILITY REVOLVING FUND OVERVIEW
Penrith City Council’s Sustainability Revolving Fund was established in 2003 and enables the savings made as a result of sustainability initiatives to be diverted into a designated fund to provide financial support for future sustainability projects.
Since its inception the fund has supported 42 projects to the value of more than $1.5 million. Combined these projects result in savings of almost $600,000 each year, along with abatement of more than 3,100 tonnes of CO2e.
Successful projects that result in financial savings are required to repay the initial project cost. In addition projects must also return the identified savings from the project back into the Fund for a minimum of 3 years. This allows the Fund to continue to support more projects into the future.
Project areas include lighting and air conditioning upgrades, installation of solar panels, heat reflective roof paint, solar hot water systems, backwash reuse at our swimming centre andLED street lighting.
The Fund is supported by guidelines that direct its administration, management and purpose.
Any employee can make an application to the Fund with all applications assessed by a group of key staff and reported annually to the Corporate Leadership Team.
View the slides as a PDF file.
