Innovative Institute of Business (IIB) has decided to be the first green campus in India. IIB Administration has advised all campus residents to reduce carbon footprints. IIB faculty members did a brainstorming and came up with the following suggestions:
I. Replacing electricity source for street lights with solar panels.
II. Replacing the existing buildings with environment friendly buildings.
III. Organizing a seminar on ‘Towards a Sustainable Future’ involving all students, staff, and experts from around the country.
IV. Introducing a compulsory course on sustainability to increase awareness among students.
V. Conducting an initial energy audit to explore where IIB can reduce carbon footprints.

Which of the following options would be the most preferred sequence of actions to reduce carbon footprints on campus?