The "green project" at BFA aims to reduce waste and costs by examining paper and printing resource usage. Current annual costs include $13,750 for paper, $15,000 for printing, $11,592 for color printing overages, and $90,000 for copiers, totaling $130,342. Steps to make a difference include thinking before printing, reducing printing amounts and switching to color only when needed, and distributing documents digitally instead of printing.