Yale became one of the first universities to charge a price on its carbon emissions on Monday, according to the Yale Daily News.

ThePresidential Carbon Charge Task Forcereleased a 36-page report on Monday recommending that Yale adopt an internal fee on the carbon dioxide emissions of the university’s buildings and facilities.

Yale’s president Peter Salovey announced the implementation of carbon charge pilot shortly after, explaining the pilot is part of Yale’s commitment in researching, teaching and designing solutions to climate change.

The carbon charge pilot is to begin in 2015-16 academic year, and the pilot will be evaluated after five years to determine the efficacy of the program. For the 2015-16 academic year, the charge would be set at $40 dollars per each ton of carbon dioxide emitted, which would result in approximately $12 million dollars of carbon charge revenue per year for Yale.

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