Cost savings from Council's energy-efficiency initiatives will now be reinvested in sustainability projects following Council's adoption of a Revolving Sustainability Fund (RSF) Policy last night.
The RSF will ensure future cost savings are reinvested into the delivery of new sustainability projects, guaranteeing further savings and environmental benefits to Council and the community.
Cost savings from delivered sustainability projects will be transferred into the RSF for a period of three years after the project's completion.
Over the past decade Council has implemented several sustainability projects to combat rising energy costs, including the installation of over 70 solar panel systems on Council and community buildings and the changeover of thousands of streetlights to energy efficient LED lights.
It is estimated that Council's energy efficiency initiatives delivered between 2013 and 2020 have saved Council and ratepayers $1.3 million.
The establishment of the RSF is a key action of Council's Environmental Sustainability Strategy (2018-2022). It was developed in consultation with Council's Environmental Voice Advisory Committee.
Quotes attributable to Mayor Cr Danny Goss:
"Introducing a Revolving Sustainability Fund makes sound financial sense and ensures Council can deliver further cost savings to ratepayers.
"The benefits of the RSF will be seen for years to come as Council is able to invest further in energy efficiencies, reducing its carbon footprint and increasing sustainability in Baw Baw."
