With support from green banks and other financial institutions, the $27 billion Greenhouse Gas Reduction Fund (GGRF) can help address the #ClimateCrisis and invest in underserved communities. At #ClimateWeekNYC, #AmericaIsAllIn and its Coalition Partner CDP hosted a roundtable where financial institutions, green banks, community development financial institutions, and other key partners discussed the transformative power of the GGRF. ➡️Dive into the five key takeaways from the roundtable: https://lnkd.in/gMTT4nkv
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As we continue to gain momentum in support of GGRF recipients, we often hear "can't we just build a green infrastructure platform to support green lending and EPA reporting?" And it reminds us of a wise saying. "You build everything three times. Once to figure out what you want, once to figure out how to build it, and once to build it." Over the last three years Banyan Infrastructure has invested millions in building a green infrastructure platform and the IRA/GGRF has done exactly what it was supposed to do. Given one part of the community (a team of passionate climate technologist betting on change) a historic and accelerated opportunity to do what our community is here to do. To make an impact in the lives of millions and thousands of communities in addition to being a small part of solving for climate change. We are #BanyanInfrastructure and we have been and are here to serve the community. #greenhousegasreductionfund #ggrfcommunity #createstandards #makinganimpact #inflationreductionact #partnerwithbanyan
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Inspired by the work Jahi Wise has been doing that emphasizes long-term resilience at the center. We are so proud to highlight him has one of our Champions in this movement! #BlackExcellence #STEM #Environment #ClimateJustice #Cliamtechange #EPA #USEPA #Environmentaljustice
“I always found him to be somebody who was really in the room listening to us at the CDFI level and really trying to understand what our motivations were for wanting to be a part of it.” — JCF CEO Amir Kirkwood on former Greenhouse Gas Reduction Fund director Jahi Wise A new article from ImpactAlpha highlights Wise’s pivotal role in shaping the Greenhouse Gas Reduction Fund's community-centered approach, paving the way for what could be one of the biggest expansions of community-based lending in the nation’s history. Read more: https://lnkd.in/egUVJVMA
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Recommended reading: Here are some great resources for CDFIs related to the Greenhouse Gas Reduction Fund.
We are thrilled to hear the news from EPA that $20 billion in funding to address the climate crisis will be deployed through the community development finance field! The Center for Impact Finance stands at the ready to support the CDFIs, green banks, and other mission-driven lenders in financing decarbonization projects in historically marginalized and under-resourced communities across the country. We’ll be providing capacity building, training, design, and evaluation services to the GGRF winners and their networks of partners. Learn more about this historic opportunity at: https://bit.ly/unh-ggrf #cdfis #creditunions #greenbanks #inflationreductionact #EPA #GreenhouseGasReductionFund #climatejustice
Biden-Harris Administration Announces $20 Billion in Grants to Mobilize Private Capital and Deliver Clean Energy and Climate Solutions to Communities Across America | US EPA
epa.gov
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Today, the Community Development Financial Institutions Fund (CDFI Fund) at the U.S. Department of the Treasury announced allocation of $5b in New Markets Tax Credits to spur "spur investment and economic growth in low-income urban and rural communities nationwide." The CDFI Fund also hosted their 2024 Advisory Board Meeting which featured another topic near and dear: presentations from several #GGRF recipients about how #CDFIs can lever GGRF funds from the US Environmental Protection Agency (EPA). One speaker commented about the transformative effect that the #NMTC has had on rural and LMI development. And what timing: today my colleagues Regan St Pierre and Jennifer Kirkley have an excellent piece out in Tax Credit Advisor entitled "Leveraging NMTC and GGRF: A Synergistic Approach to Community Development." It's a topic close to us at CohnReznick LLP, where our team has spent decades working on NMTC projects and most recently, have a team dedicated to exploring ways to take advantage of all these tax credit-based funding opportunities - LIHTC, HMTC, IRA 45's, Direct Pay, and many more - to leverage funds for the GGRF and accelerate national #decarbonization, #sustainability, #resilience and #equity topics. Christopher Griffin, CPA, CGMA Joel Cohn, CPA (he/him) Anton Cohen Richard Davies Cindy Fang Marshall Phillips Frank Banda, CPA, CFE, PMP Abby Rollins Jenny Brusgul Roman Castillo Geoffrey Magon Tim Bender, PMP, CPA Leah Halevy #GHG #emissions #renewables
Leveraging NMTC and GGRF
https://www.taxcreditadvisor.com
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Today, we made history. Thanks to the hard work and dedication of our partners, staff, and supporters, a national green bank is finally here! At Dream.Org, we believe using funds from the Inflation Reduction Act to create a national green bank network will have a historic impact on our communities, our environment, and our economy. Increasing access to green financing can alleviate the disproportionate health impacts low-income and disadvantaged communities suffer while creating lucrative jobs and reducing #energy costs. We mobilized thousands of you to call on the US Environmental Protection Agency (EPA) to create a national green bank, and it worked! We'll be working with the Coalition for Green Capital to ensure that the $5 BILLION in funding advances climate equity and transforms communities facing #climate inequities. We have big goals to make sure that this money reaches the #communities who need it most, but we need everyone's support to realize them. The GGRF faces regular attacks from those who misunderstand it, and we can't let misinformation disrupt progress. Read more here: https://lnkd.in/gspj92ED
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VEIC is a proud partner of the Justice Climate Fund and want to thank the Biden Administration and the EPA for selecting the Justice Climate Fund (JCF) to begin award negotiations for the Greenhouse Gas Reduction Fund (GGRF) Clean Communities Investment Accelerator (CCIA) program. These federal investments will help our country meet climate goals and reduce air pollution, advancing a better future for rural and urban families alike, including the communities we serve. In addition to reducing carbon emissions, the investments will also deliver greater economic security, creating better-paying jobs and opportunities for small businesses across America while also fostering financial inclusion via America’s Main Street financial institutions — the very community lenders that have delivered, for decades, financial opportunity, security and prosperity to struggling Americans. JCF’s network of community lenders serves 281 million Americans — or almost 86% of this nation — and includes more than 1,000 CDFIs across every state in the nation and multiple territories. #strongertogether Read more here: https://lnkd.in/djbzzr9D
Justice Climate Fund
justiceclimatefund.org
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REPORT 📔 | The Resilient Communities Fund got emergency support to community businesses at pace, implementing energy resilience projects in response to climate change and the cost-of-living crisis. The evaluation report by New Local shows that: 1️⃣ Community businesses are at the forefront of addressing the local impacts of the #climatecrisis. They deliver energy efficiency improvements, support local people with the climate crisis's impacts, and implement sustainable practices. The fund has helped safeguard local business, protect jobs and services, and build financial headroom. 2️⃣ The flexibility and simplicity of the fund was critical to its success and impact. This empowered community businesses, freeing them up from funding restrictions and day-to-day challenges and allowing them to tackle immediate pressures and plan for longer-term resilience. 3️⃣ Community businesses and the communities they support, are highly susceptible and exposed to climate change. They need flexible financial support& technical bespoke advice to build towards environmental sustainability. Read more about what we learned from funding projects in this way 👇 https://lnkd.in/enArfCyz
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CDFIs: Unlock the Full Potential of GGRF Funding The Little Big Project invites you to an exclusive two-part webinar series, Logic Models for CDFIs Leveraging the GGRF. This series is designed to empower Community Development Financial Institutions (CDFIs) to create impactful programs and develop metrics that align with the Greenhouse Gas Reduction Fund (GGRF). Whether you're launching new green lending initiatives or expanding technical assistance programs, these sessions will give you the tools to maximize impact and meet equity and compliance goals. What to Expect 🗓️ Webinar 1: Building Logic Models for GGRF Success 📅 Date: Tuesday, December 3, 2024 ⏰ Time: 10 a.m. PST / 1 p.m. ET (1 hour) Key Takeaways: ✅ Learn how to build robust logic models that connect your resources to measurable impact. ✅ Best practices for aligning your programs with GGRF priorities, including equity and emissions reduction. ✅ Get templates and tools to kick-start program design tailored to green lending and technical assistance. 🗓️ Webinar 2: Developing Metrics & Ensuring Compliance with GGRF 📅 Date: Thursday, December 5, 2024 ⏰ Time: 10 a.m. PST / 1 p.m. ET (1 hour) Key Takeaways: ✅ Create indicator tracking tables for logic models. ✅ Strategies for aligning with Justice40 equity goals and meeting compliance requirements. ✅ Practical tools for demonstrating impact to funders and stakeholders. Who Should Attend? CDFI staff and managers Program officers Technical assistance providers Community partners in green lending Let’s build greener, more equitable communities through smart program design and impactful metrics. Don’t miss this opportunity to align your programs with GGRF priorities and achieve your goals! 🔗 Register today: https://lnkd.in/gCHfwTwN #CDFIs #GGRF #GreenLending #Justice40 #CommunityDevelopment #EquityGoals #ImpactMetrics #TheLittleBigProject
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We’re thrilled to share our latest impact report today and the incredible milestones we’ve achieved. Thanks to the support of our customers, investors and anyone who’s raised a Toast! Read the full report here: https://lnkd.in/dWibMi45 A snapshot of some of our impact 👉 🥪 Bread Saved 🥪 We’ve saved 3,313,241 slices of surplus bread from going to waste. If you piled all these slices up, they’d reach over 4.8x the height of Mount Everest! 🌿 Carbon Emissions Avoided 🌿 We avoided 70.1 tCO2e emissions, which equates to 26 million phone charges. 💧 Water Saved 💧 We saved 422,445 litres of water – the equivalent of 9,184 showers! 🌾 Land Freed Up 🌾 We freed up land equivalent to 1,474 tennis courts! That’s 288,104 m² of land. #BCorp #ImpactReport #ToastBrewing #NaturesTakingOver
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On November 13, Shelterforce is hosting a webinar on how the Greenhouse Gas Reduction Fund will drive positive impacts for affordable housing residents and community development organizations. Featuring leading voices in community development, including from JCF Coalition Partner the African American Alliance of CDFI CEOs, the webinar will explore: 1) What is the Greenhouse Gas Reduction Fund, and how do the three funding streams (Solar for All, Clean Communities Investment Accelerator, and National Clean Investment Fund) differ from one another? 2) How will these funds benefit low-income communities, and what mechanisms are in place to ensure they reach their intended recipients? 3) Since the funds were distributed, what progress has been made? Learn more and register here: https://shorturl.at/Yc5fU
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