Efforts will focus on addressing professional training, networking, and database development requisites that will accelerate the use of SROI to wide audiences, while setting the stage for acceptance and standardization. A detailed plan of action, including steps toward the production of initial symposiums, boot-camps and certificate-focused classes, will begin by Fall 2010. Work was completed and ready for presentation by July 2010. To date, SROI-based economics principles have been applied to support (through a clearer articulation of costs and benefits) nearly .7 billion in ARRA (Stimulus Bill) grant applications
This commitment will enable the measurement of the degree or amount of 'green' associated with a given project, product, or initiative. By creating a measurement system linked to a common monetary unit, comparisons can be made, priorities established, and investments guided in a direction that yields the greatest financial and Sustainable Return on Investment. Given the sound success of the first version of this framework, the expanded version of the methodology will include performance-measuring, monitoring, and reporting capabilities to track progress over time. New applications of the model, for the private sector and the retail sector specifically, are being developed as a scale up of the original commitment.
This commitment is divided into 7 specific steps or tasks:
1. The formation of a new collaboration team (by 11.1.09)
2. The development of an integration plan to combine the SROI framework with an emissions measurement and reporting tool, and a pilot scale product-rating system (by 1.1.10)
3. The identification of beta implementation projects (local and federal applications and a pilot product line by 2.01.10)
4. A third party review of the beta testing results (5.1.10)
5. Documentation of Findings in a technical paper suitable for publication (6.1.10)
6. Presentation of findings to C40 Cities and the U.S. Conference of Mayors (6.15.10)
7. Work with CGI community to share the methodology and tools with a global audience (9.20.10)
Measuring Green: SROI V2.0 is an expansion of the successful 2008 CGI Commitment to Action entitled 'Creating the Sustainable Return on Investment Public Decision Tool.' This 2009 Commitment involves the original collaborators of HDR, Columbia University and the City of Boston, as well as new partners, including a major information technology company and GE Ecomagination. The partners are focused on equipping public officials with management and decision support tools that will help them navigate emerging requirements for sustainability, transparency, and competitive funding programs that will be associated with the new economy. To date, no single tool has been developed to satisfy the need for comprehensive sustainability impact assessment. The members of this CGI Commitment to Action will do their part to fill the gap. They will build on two prior commitments to fulfill this vision. First, they will expand the SROI Public Decision Tool to also include sophisticated energy and emissions measurement, monitoring, and reporting software developed by a major information technology company. The goal is to enable public officials to track and report on their efforts to save energy, improve energy efficiency, and reduce carbon emissions while showing the monetary value of those efforts, so that their communities can see the Sustainable Return On Investment (costs and benefits of social, environmental and economic outcomes) associated with each initiative. This tool will provide measurement and monitoring capabilities that help state and local governments identify and make corrections to projects that fail to live up to their original promises. In addtion, this Commitment intends to show that SROI ratings can be adopted by the manufacturing sector. The plan is to identify a pilot target product of interest to public sector clients and to work with GE and their ecomagination initiative to examine the potential to apply SROI performance ratings. The goal is to demonstrate how public/private partnerships can be used to procure SROI-rated equipment and services. The collaborative venture is currently in discusions with GE to develop this feature.
While SROI has been used with great success by governments at all levels and by major players in the utility and transportation industries, it would be helpful to have an opportunity to demonstrate how SROI can make the SMART Grid even smarter (and how product manufacturers can make a better case for the merits of their offerings
SEEKING: implementing partners, best practice information, media and marketing opportunities. Input sought from major players in the material manufacturing, distribution, sales, recycling and disposal sectors.
OFFERING: implementing partnership, best practice information. Technical, scientific, planning and economics sectors as related to the built and natural environments.