By now, most companies understand that investing in energy efficiency and renewable energy projects and “going green” can provide a variety of benefits to overall business operations. However, securing the means to do so can still be quite difficult as time, expertise, and especially budget constraints often stand in the way of moving these projects forward.
Through a cooperative agreement with the Department of Energy’s Better Buildings Initiative, this week RILA released an Implementation Model – the first of many – which outlines how global manufacturer and retailer adidas Group successfully overcame internal financing barriers to invest $5.5 million in energy efficiency and renewable energy over the last three years.
In short, adidas Group established a greenENERGY Fund in 2012 to operate like an internal venture capital fund—one that provides financing, expertise, project management, monitoring and verification to make energy efficiency investments and renewable energy projects easier– all while delivering a net profit.
Recent projects funded by greenENERGY Fund include:
- An exterior LED lighting retrofit in a distribution center
- More efficient HVAC units in a large showroom
- Wireless intelligent LEDs in a large distribution center
adidas Group gave us a breakdown of the subsequent financial and energy impact:
For more information on adidas Group’s strategy for investing in energy efficiency, including the structure of the greenENERGY Fund, outcomes and keys to creating your own successful energy fund, see the complete Implementation Model here.
For questions, contact Erin Hiatt, RILA’s senior manager, sustainability & compliance at firstname.lastname@example.org.