The Environmental Finance Center assists communities and organizations in exploring financing options for carbon offset programs and initiatives.
Duke University Carbon Offset Initiative
In June 2012, the EFC was hired to work with Duke University’s carbon offset office – the Duke Carbon Offset Initiative (DCOI) – to analyze alternatives for investment in energy efficiency carbon offset projects to help Duke reach its 2024 carbon neutrality goal. The University plans to initiate an energy efficiency employee benefit pilot program that replicates portions of the Clinton Climate Initiative’s Home Energy Affordability Loan (HEAL) program. This program will provide resources to employees that are expected to dramatically reduce energy usage in employee homes. The EFC provides financial advisory and program management support for this pilot program which is expected to reach approximately 30 employees during the four month pilot period between March and June 2014 and will serve as the foundation for a University-wide employee energy efficiency and renewable energy benefit program.
Working together to build a model that can be replicated by other colleges, universities, and organizations, the DCOI HEAL program will develop and implement an employee benefit program for Duke University employees that will include online and in-person sustainable energy educational resources, energy auditing tools, a qualified contractor network and financing options for residential energy efficiency and renewable energy projects.
Headquartered in Raleigh, NC, NC GreenPower is a nonprofit whose mission is to improve the quality of the environment in North Carolina through a statewide program that connects consumers with green energy and carbon offset providers. NC GreenPower is a well-recognized green power provider throughout the state of North Carolina. With 48 utility partnerships that enable individuals to easily make contributions to green power and carbon offsets directly through their utility bill, the organization gives customers an easy way to make an environmental investment. The EFC worked with NC Greenpower to evaluate their business model and potential alternatives for new business lines, and offered recommendations to NC GreenPower to ensure long-term financial sustainability.