Sustainable Steps

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Sustainable Steps will organize running events to start a self-sustaining fund that will finance green retrofits of residential properties at $0 net cost to homeowners.

Standings & Awards

422 out of 422 in North America
272 out of 272 in Environment
935 out of 935 in Design
992 out of 992 in Charitable
4003 out of 4003 Overall

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VOTES

Sustainable Steps

Sustainable Steps will help reduce greenhouse gases in a way that economically benefits homeowners.

Since the Industrial Revolution, humans have been emitting GHGs into the atmosphere at an accelerating rate. Once in the atmosphere, greenhouse gases absorb thermal radiation and re-radiate it back towards Earth’s surface. This process is known as the Greenhouse Effect and has been contributing to climate change, increasing the frequency and severity of extreme weather events, contributing to sea level rise, and accelerating extinction rates. It threatens our air, water, and food, and must be addressed. Fortunately, steps are being taken to help fight climate change and reverse the Greenhouse Effect. Automobile manufacturers are improving vehicle efficiency, renewable energy is becoming more competitive with fossil fuels, and individuals are becoming more cognizant of their carbon footprints. Unfortunately, one of the largest contributors to climate change is not receiving as much attention as it should. As a sector, buildings are the largest global emitter of CO₂. In the US, buildings account for 39% of CO₂ emissions, and 70% of existing US homes were built prior to energy codes. Despite major savings from green retrofits, they are not yet mainstream. Three key barriers are responsible: (1) a lack of awareness of energy savings; (2) a lack of technical expertise for retrofits; and (3) a lack of available capital for retrofits. The third barrier is especially important; despite potential savings, many homeowners cannot afford retrofits due to associated first costs. In California, average residential green-retrofits cost $15,000, have 165% returns-on-investment, have simple paybacks of three to five years, and generate 25% savings on utility bills. Retrofits make homes more efficient, help fight climate change, and save homeowners money. A self-sustaining fund could finance retrofits and regenerate every three to five years from energy savings. The question is, how to start such a self-sustaining fund? In 2006, American runners and walkers raised $714 million for charity, a 9% increase from 2005. Despites the impressive amount of money raised, not one penny went to the environment. There are no running/walking events for the environment and no environmentally-focused charity organizations for runners and walkers to raise money for; hence the mission of Sustainable Steps – to organize running events to start a self-sustaining fund that will finance green retrofits of residential properties at $0 net cost to homeowners.

FIVE PROJECT QUESTIONS Required (60 - 90 minutes)

1. What is your innovation?

Sustainable Steps will leverage the growing use of races as fundraisers among runners and walkers to start a low-interest loan fund for green retrofits on residential properties at zero net cost to homeowners. Race profits, together with money raised by participants, will start the self-sustaining loan fund. The fund will regenerate from retrofit-related utility savings. Loans will be structured in favor of borrowers, so utility savings are greater than payments.

2. Who gains the most?

Sustainable Steps will address three demographics. The primary one is borrowers who have their homes retrofitted and enjoy lower utility costs. The second is runners and walkers; by improving their fitness, they raise money to help fight climate change. The third is the planet itself. Climate change is a global problem; unlike other environmental issues, many of which are regional, GHGs are emitted globally and the effects are worldwide. More efficient homes use less energy and emit less GHGs.

3. Who pays?

Event participants will pay for Sustainable Steps’ operations; however, if race fees only cover expenses, then races will not be able to finance retrofits. Fortunately, most races have at least one major sponsor. We will target relevant sponsors – green-building companies, and running and athletic brands looking for a better sustainability image – to help offset costs so most race revenue can go into the retrofitting fund. Participants will also raise money to help grow the retrofitting fund.

4. What is your success?

Our demographics are: (1) borrowers; (2) runners and walkers; and (3) the planet. Success for each of these will be measured in USD though utility bills, miles ran and walked, and by converting utility efficiencies to CO2 equivalents, respectively. In the 1st year we want to have 1 race distance, 1,000 racers, and retrofit 2 homes. In Year 3 we hope to have 3 race distances, 2,500 racers, and retrofit 5 homes. In Year 5 we hope to have 3 race distances, 5,000 racers, and retrofit 10 homes.

5. How will you do it?

There will be two main parts: (1) organize running events as platforms to raise money for green retrofits, and (2) identify suitable homeowners as micro-borrowers so their homes can be retrofitted at zero net cost. Eight months of the year will be spent organizing running events. Four months of the year will be dedicated to finding suitable borrowers who, without a micro loan, could not retrofit their homes. The retrofitting fund will regenerate through utility savings from retrofitted homes.