Sustainability Initiatives Revolving Fund | SIRF

Overview

<p>The Arizona State University Sustainability Initiatives Revolving Fund was established in fiscal year 2010 to invest in projects that foster and enable sustainability efforts and provide an economic return on investment. SIRF funds are available to all ASU community members. The SIRF is comprised of the following three tiers:</p> <p>Tier 1 University Community Sustainability Grants: Smaller projects that are designed to build a campus sustainability culture and promote student engagement. A small funding pool is set aside each year to award grants of up to $5,000, and is overseen by the director of Sustainability Practices at ASU and SIRF committee member.</p> <p>Tier 2 Fund Matching and Efficiency Loans: Medium-scale, capital-improvement initiatives that return a project’s costs within 6 years or less. These loans are ideal for departments that need to upgrade or renovate space and equipment to improve efficiency and reduce carbon emissions, and require that the department match-fund the proposed investment as well as share in the return generated.</p> <p>Tier 3 Capital Expansion Loans: All large-scale initiatives that make a significant and measurable sustainability impact and return a project’s costs within 10 years or less. These loans are targeted at strategic internal and external partnerships that reduce carbon emissions.</p> <p>The SIRF committee, composed of ASU senior management, convenes monthly to review and approve project requests. The SIRF committee established minimum financial goals that the Tier 2 and Tier 3 projects must achieve to be approved for funding. Each project’s yearly savings are incorporated into ASU’s annual and multi-year fiscal plans.</p>