Washington, DC – The Coalition for Green Capital (CGC) today responded to the Notices of Funding Opportunity released by the Environmental Protection Agency (EPA) regarding the Greenhouse Gas Reduction Fund (GGRF).
“We congratulate the EPA on launching the opportunity to capitalize two-to-three national green banks and support a national network of nonprofit clean power lenders. We intend to apply for the maximum possible award under both programs in order to create a national green bank and support a network of local lenders that reach low income and disadvantaged communities in every community and state,” said Reed Hundt, chairman of the board and chief executive officer of CGC. “We welcome partnership and support from academic institutions, private sector partners, nonprofits and environmental justice organizations as we endeavor to make an unprecedented investment in disadvantaged communities. We know that through this winning coalition we can meet the challenge of averting the increasingly urgent climate calamity and advance the Administration’s goal of moving to a clean economy — with a crucial focus on ensuring low income and disadvantaged communities are first in line for the benefits of this new energy future.”
“We commend the EPA for its proactive engagement in the process of developing this once-in-a-lifetime investment of the GGRF and congratulate EPA for releasing these highly anticipated Notices of Funding Opportunity,” said Eli Hopson, CGC chief operating officer and executive director. “Through this thoughtful process, the Biden-Harris administration has demonstrated its commitment to combating climate change, advancing environmental justice, and maximizing the societal impact of this fund by partnering with the public and private sectors. We wholeheartedly support this initiative and recognize the tremendous possibilities it holds in driving the adoption of clean energy solutions and redressing environmental injustices. We look forward to applying for funding to launch a national green bank network and contribute to the collective effort of achieving a sustainable and prosperous future for all Americans.”
CGC, doing business as the American Green Bank Consortium (AGBC), has been building green banks for a dozen years. The AGBC consists of 20 active green banks that invested $5 billion in 2022, as well as 20 additional green banks in the start-up phase, ready to invest federal dollars in their communities. CGC is also working with an additional 16 startups that were motivated by the passage of the GGRF to create a state or local green community lender and provide coverage to all Americans for these critical opportunities. Taken together, the 56 organizations cover 41 states across the country.
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ABOUT COALITION FOR GREEN CAPITAL
The Coalition for Green Capital (CGC), doing business as the American Green Bank Consortium, is a 501(c)(3) chartered specifically to reduce greenhouse gas emissions and other forms of air pollution and redress climate and energy related environmental injustice. Green banks are a proven finance model that uses public and philanthropic funds to mobilize private investment in renewable energy, energy efficiency and other decarbonization technologies. For over a decade, the Coalition for Green Capital has led the Green Bank movement, working at the federal, state and local levels in the U.S. and countries around the world. For more information, visit: https://coalitionforgreencapital.com/.