Center  for
Environmental  Finance
       U.S. Environmental Protection Agency
        Office of the Chief Financial Officer
About the CEF

Welcome to the inaugural issue of the Center for Environ-
mental Finance (CEF) Quarterly Newsletter. Through this
communication, we will share news and information cover-
ing the projects and activities of the Office of the Chief Fi-
nancial Officer's (OCFO) Environmental Finance Program.
The CEF is  responsible for managing the Environmental
Financial Advisory Board (EFAB),  an independently and
federally chartered advisory committee, and the Environ-
mental Finance Center Network (EFCN), a grant program.

Both the EFAB and the EFCN provide unique services to
the nation  in terms of helping communities find ways to
pay for  environmental programs  and creating incentives
that promote environmental stewardship.  Together, within
the Environmental Finance Program, these entities seek to
lower costs, increase investment, and build capacity by cre-
ating partnerships with state and local governments and the
private sector to fund environmental needs.

EFAB was established in 1989 to advise EPA on environ-
mental financing challenges facing the nation. The Board
is  composed of approximately 30 members appointed by
the Deputy Administrator, representing state and local gov-
ernments; the banking,  finance,  and  legal  communities;
business and industry, academia, and nonprofit environ-
mental organizations.

The EFCN, composed often centers  located throughout the
nation, is  the  only university-based organization  in  the
country that  provides innovative  solutions to  communities
to  help manage the cost of environmental  protection.  The
network  works with both the public and private sectors to
promote  a sustainable environment by addressing the diffi-
cult issue of how to pay. The Centers are located at the fol-
lowing universities:

  University of Southern Maine
  Syracuse University
  University of Maryland
  University of North Carolina at Chapel Hill
  University of Louisville
                                                                                         March 2010
                                                                                         Volume 1, Issue 1
  Cleveland State University
  New Mexico Institute of Mining and Technology
  Wichita State University
  Dominican University of California
  Boise State University

This first issue includes two articles, one about an EFAB
report to the Agency on an innovative financing mecha-
nism  called  Voluntary Environmental Improvement
Bonds (VEIBs), and the  other about a new green build-
ing into which the  Syracuse University Environmental
Finance Center  recently moved.   We hope you enjoy
this and future issues and your comments are welcome.
Please visit us at
 Syracuse EFC Moves into New Green
 In January,  the  Environmental  Finance  Center
 (EFC) at Syracuse University moved into the Syra-
 cuse  Center of Excellence (Syracuse CoE) Head-
 quarters Building, a state-of-the-art  green office
 building in Syracuse, New York.  The Leadership
 in Energy and Environmental Design (LEED) rat-
 ing for this 5 story building is expected to be plati-
 num.  In addition to providing space  for the EFC,
 this building provides offices, classrooms, public
 spaces, and research labs for Syracuse CoE and its
 academic and industry partners.  The building has
 many features that help reduce its environmental
 impact and  create an indoor environment that is
 good for the health of its occupants.   Environ-
 mental contamination associated with previous in-
 dustrial uses of the three-acre construction  site,
 which was designated as a "brownfield," was reme-
 diated before construction began.

                        (continued on page 2)

Green Building (continued from page 1)

The green features of the building include photovoltaic panels that
enable it to generate its own electricity and extensive window panels
providing natural light to occupants in most of the indoor spaces. In
addition, ventilation below the foundation prevents underground va-
pors  from entering  the building, eliminating a potential  source of
contaminants in indoor air.  The building provides a good example
of how other similar buildings could be constructed for the benefit of
the environment and public health.  A ribbon cutting ceremony will
take place in March 2010. The EFC is online at
VEIB Reports Well Received
by the Agency
The  Environmental Financial  Advisory  Board (EFAB) was
pleased to receive positive feedback from the EPA on two re-
ports recently released to the Agency examining an innovative
environmental finance concept called Voluntary Environmental
Improvement Bonds (VEIBs). These reports present a concept
and implementation plan for a VEIB program that can be used
by homeowners to finance the  installation of solar panels and
other property improvements.  This program has the potential
to recruit thousands of citizens  to the cause of reducing green-
house gas emissions; and it supports Administrator Jackson's
priorities of taking action on climate change and improving air
   The new green building that houses the
   Syracuse Environmental Finance Center
    "This program has the potential to recruit
    thousands of citizens to the cause of reduc-
    ing greenhouse gas emissions"

Upcoming Events:
Council of Infrastructure Financing Authorities
(CIFA) Federal Policy Conference, April 26-27,
Washington, DC, see
In addition to solar panels, other installations that VEIBs can be
used to finance include: insulation, energy efficient water heat-
ers, and wood stoves certified by EPA as having reduced par-
ticulate emissions.  In the reports, EFAB highly commended
the VEIB concept to EPA and made specific recommendations
for the Agency to encourage states and local governments to
adopt VEIB programs.  In response to these recommendations,
the EPA Office of Air and Radiation (OAR) has committed to
exploring the potential of VEIBs to finance a variety of envi-
ronmental programs, including the replacement of wood stoves
with EPA-certified devices.  The reports are available online at
rovementBondsReports .pdf.
Newsletter Staff: Susan Emerson, Vanessa Bowie
Contributor: SaraPesek

  Page 2
Environmental Finance Center Seminar Series at
EPA in Washington, DC, featuring:
Boise State University EFC (April 28)
University of North Carolina EFC (May 12)

Syracuse Environmental Finance Center Event,
Smart Management for Small Communities,
April 20-22, Blue Mountain Lake, NY, see
http ://efc .syracusecoe .org/.
  Center for Environmental Finance Newsletter