InsideEPA: Green Banks Seek $12 Billion From EPA Clean Energy Finance Program

A green bank advocacy group is proposing to manage nearly half of EPA’s $27 billion clean energy finance program as a national entity, arguing such a move would leverage massive amounts of private capital to deploy various low-carbon energy projects and help achieve the Biden administration’s climate goals.

Should EPA approve the Coalition of Green Capital’s (CGC) $11.9 billion application under the Greenhouse Gas Reduction Fund (GHGRF), the group could help finance projects that account for 4 percent of the administration’s goal to halve U.S. emissions by 2030, according to remarks from CGC’s CEO Reed Hundt on an Oct. 12 press call.

“The GHGRF has enormous potential to advance the U.S.’ climate goals by leveraging low-cost financing to accelerate the deployment of clean energy,” added CGC board member David Hayes, who was a former Biden White House climate advisor.

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