EPA launches $20 Billion Greenhouse Gas Reduction Fund Grant Competitions
FOR IMMEDIATE RELEASE:
July 14, 2023
CONTACT
Brooke Durham
Brooke.Durham@Dream.Org
404-840-4170
DREAM.ORG COMMENDS EPA ON LAUNCH OF $20 BILLION GREENHOUSE GAS REDUCTION FUND GRANT COMPETITIONS
Creating a National Clean Financing Network will accelerate the green transition while investing in communities that have historically been left behind
Washington D.C. – Today, the Environmental Protection Agency (EPA) launched two grant competitions that will unlock access to financing for clean energy projects, especially in disadvantaged communities. Together, the $14 billion National Clean Investment Fund competition and the $6 billion Clean Communities Investment Accelerator will create a national clean financing network to leverage $20 billion in government funding into $250 billion in combined public and private co-investment over the next decade.
Dream.Org commends the EPA and the Biden Administration for prioritizing equitable, innovative climate financing programs that will accelerate the transition to renewable energy and benefit all Americans. According to a recent report, this investment is expected to reduce 850 metric megatons of greenhouse gas emissions and create one million direct jobs over the next decade. With 40% of overall funding directed toward disadvantaged communities, those most impacted by climate change will experience substantial economic and health benefits from these green lending programs.
“The positive ripple effects of the Greenhouse Gas Reduction Fund cannot be overstated,” said Jessie Buendia, Green For All National Director at Dream.Org. “By empowering communities and individuals, we will witness a wave of economic growth, improved health outcomes, and increased resilience. Dream.Org is proud to stand alongside the EPA and the Biden Administration in championing these innovative initiatives, and we are committed to working collaboratively to build a more sustainable and inclusive future for all."
“Disadvantaged communities are overlooked and have become underserved. As a consequence, the communities lack access to the resources they need to have cleaner, more affordable, and more reliable energy,” said Reginald Parker, Founder of Optimal Technology Corporation, Chairman of Freedmen Green Bank and Trust, and Dream.Org Business Council Member. “We believe that if we were to give these communities access to the energy solutions they need and the financing they deserve, it would not only improve their quality of life but their livelihood as well through the resulting economic development. This is what our Green Bank is chartered to do. Our team has first-hand experience with the impact that inclusive financing for clean energy projects can have. The Greenhouse Gas Reduction Fund is positioned to take that impact to a national scale.”
“Every community faces different obstacles to bringing clean energy projects online,” said Dr. Cassandra Little, CEO of the Fresno Metro Black Chamber of Commerce and Dream.Org Transformative Communities Partner, “but for low-income communities and communities of color, one barrier is shared: financing. The Greenhouse Gas Reduction Fund will help disadvantaged communities overcome this obstacle while providing opportunities to deploy green projects that meet their unique needs.”
Dream.Org is eager to partner with communities, lenders, and other nonprofit organizations to help implement these funding programs in a way that centers community voices, maximizes benefits for disadvantaged communities, and makes meaningful progress towards climate goals. Contact us to learn more about partnership opportunities and visit our website to get involved.
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ABOUT DREAM.ORG
The Green For All team at Dream.Org is working at federal, state, and local levels to ensure that disadvantaged communities are priority recipients of the historic $369 billion in Inflation Reduction Act funding. Working with communities, entrepreneurs, agencies, and lawmakers, we are building an inclusive green economy that uplifts minority-owned businesses, addresses systemic inequities, and promotes public health for everyone.
