Photo courtesy of the Clean Energy Credit Union, a member of Inclusiv.
From the Center for Impact Finance and the Natural Resources Defense Council
The Equitable Greenhouse Gas Reduction Strategy Series
Through six strategy guides and accompanying webinars focused on traditional lending lines of business in key market sectors, we make the case for how EPA's Greenhouse Gas Reduction Fund (GGRF) can deliver equitable greenhouse gas reduction in and for low-income and disadvantaged communities (LI/DACs), as well as "co-benefits" such as an economic development, quality jobs, resilience, affordable housing, sustainable food systems, and more. Each sector-focused webinar featured a seasoned lender, a community advocate, and an industry expert. These discussions were guided by findings from strategy guides developed through a "sprint" design lab process led by the Center for Impact Finance (CIF) and the Natural Resources Defense Council (NRDC). Each design lab engaged a cohort of experienced lenders, developers, and thought leaders reflective and the project development and finance process for that market sector. Many thanks to all who participated!
Check out the sections below to download the equitable strategy guide and view the accompanying webinar for each sector. Please send feedback to Tina Poole Johnson, Deputy Director. Your insights and expertise will be much appreciated!
Kickoff, Introductory Webinar
held June 22, 2023
Moderator: Sarah Dougherty, NRDC
Speakers:
- Damon Burns, CEO of Finance New Orleans
- Sylvia Chi, Senior Policy Analyst at Just Solutions Collective
- Abby Corso, Chief Strategy Officer at Elevate Energy
- Cathie Mahon, CEO of Inclusiv
Webinar: Greening the Small Residential Market Sector for Low-Income and Disadvantaged Communities
held June 29, 2023
Moderator: Eric Hangen, Center for Impact Finance, Carsey School of Public Policy, UNH
Speakers:
- Duanne Andrade, Executive Director of SELF
- Sage Briscoe, Director of Federal Policy at Rewiring America
- Cynthia Finley, Vice President for Workforce Strategy and Innovation of Interstate Renewable Energy Council (IREC)
- Kerry O'Neill, CEO of Inclusive Prosperity Capital
Webinar: Greening the Affordable Multifamily Market Sector for Low-Income and Disadvantaged Communities
held July 6, 2023
Moderator: Adam Kent, NRDC
Speakers:
- Lauren Ahkiam, Director at Los Angeles Alliance for a New Economy (LAANE)
- Mark James, Founder of Urban Green LLC & Heleos LLC
- Bomee Jung, Co-Founder/CEO of Cadence OneFive Inc.
- Sadie McKeown, President of Community Preservation Corporation (CPC)
Webinar: Equitable Community Solar for Low-Income and Disadvantaged Communities
held July 13, 2023
Moderator: Eric Hangen, Center for Impact Finance, Carsey School of Public Policy, UNH
Speakers:
- Jon Abe, CEO and Founder of Sunwealth
- Farudh Emiel, Policy Manager at Vote Solar
- David Wright, Vice President of Energy Programs at Groundswell
- Adewale OgunBadejo, Vice President of Workforce Development at GRID Alternatives
Webinar: Greening Commercial Real Estate and Commercial Facilities for Low-Income and Disadvantaged Communities held July 20, 2023
Moderator: Tina Poole Johnson, Center for Impact Finance, Carsey School of Public Policy, UNH
Speakers:
- Mark Kresowik, Senior Policy Director at The American Council for an Energy Efficient Economy (ACEEE)
- Daphany Rose Sanchez, Executive Director at Kinetic Communities Consulting
- Curtis Probst, CEO of New York City Energy Efficiency Corporation (NYCEEC)
- Becky Regan, CEO of Capital Link
Webinar: Electric Vehicles (EVs) and Green Transportation for Low-Income and Disadvantaged Communities
held July 27, 2023
Moderator: Tina Poole Johnson, Center for Impact Finance, Carsey School of Public Policy, UNH
Speakers:
- Terea Macomber, Senior Program Associate at Clean Energy Works
- Bryn Grunwald, Carbon-Free Transportation Associate at RMI
- Michelle Corson, Founder/CEO of On the Road Companies
- Randy Chambers, President of Self-Help Credit Union
Webinar: Greening the Small Business Sector for Low-Income and Disadvantaged Communities
held August 3, 2023
Moderator: Hannah Vargason, Center for Impact Finance, Carsey School of Public Policy, UNH
Speakers:
- Keith Bisson, President of Coastal Enterprises Inc (CEI)
- Stephen Morel, CEO of Montgomery County Green Bank
- Lynn Abramson, President of Clean Energy Business Network
- Cortney Piper, Founder and Executive Director of Tennesssee Advanced Energy Business Council (TAEBC)
BUILDING AN EQUITABLE CLEAN ENERGY TRANSITION THROUGH EVERY INVESTMENT, EVERY BUILDING, EVERY BUSINESS, EVERY PROJECT, EVERYWHERE, FOR EVERYONE.
Our Goal:
To ensure that all communities—especially communities of color, Native Nations, and those that are economically disadvantaged--build resilience and fully realize the benefits of the clean energy revolution, resourced by their fair share of the Greenhouse Gas Reduction Fund capital as well as equal access to other sources of responsible capital, on terms that they can afford, propelled by the opportunities of the Inflation Reduction Act generally.
Unprecedented Opportunities
The Inflation Reduction Act (IRA) includes unprecedented funding and opportunities to fuel greenhouse gas reduction for low-income and disadvantaged communities. To maximize equitable greenhouse gas reduction and "co-benefits" such as economic development, quality jobs, resilience, affordable housing, sustainable food systems, and more, community development financial institutions (CDFIs), community development banks and credit unions, Minority Depository Institutions, Green Banks, and other mission lenders must join together with other organizations across the project development, financing, and implementation ecosystem. If we coordinate, cooperate, and collaborate, each contributing our expertise, experience, trusted relationships, and other strengths and leveraging those of others, we can achieve rapid, impactful deployment of clean energy investments to low-income and disadvantaged communities. That ecosystem—community development finance entities, their investors and partners, project developers, contractors, and workforce development entities—are well-positioned to leverage the Federal opportunities into real estate development and revitalization, business expansion, community facilities, and every other community-based project that has or is seeking financing.
Together, we can develop a new type of value engineering—one that seeks to increase the impact of every loan, every building, and every business by identifying opportunities to reduce and avoid greenhouse gas emissions and build equitable resilience.
Business as Usual Is No Longer Enough
Communities of color, Native communities, and those that are economically disadvantaged are disproportionately impacted by the risks and realities of climate change. Homes and farms are damaged. Workers and businesses face the impact of on-going economic shifts. Lives and livelihoods are at stake. We need to reinvigorate the community development field through deep commitment to resilience and climate change mitigation and begin to structure investments to ensure that resilience and greenhouse gas reduction are engineered into every investment, every building, every business, every project, everywhere, for everyone.
Maximize Benefits for Communities
The Center for Impact Finance (CIF) is working to maximize benefits for communities through coordination, cooperation, and collaboration across the project delivery and financing ecosystem. By activating and supporting the strong existing community development networks and helping build relations with other key market players, we hope to achieve rapid, impactful, and equitable implementation of the Greenhouse Gas Reduction Fund and other key climate programs. Here, we describe the opportunity, the challenges we aim to address, and our plan to support interested stakeholders. We will continue to update this webpage with new information and resources as they develop.
Background on the Guides
Since late 2022, in partnership with the Natural Resources Defense Council (NRDC), we have been developing "Equitable Strategy Guides" to inform equitable greenhouse gas reduction through traditional lending lines of business in key market sectors. Through this "sprint design lab" process, supported by UNH / NRDC staff and consultants, expert teams have been sharing knowledge and developing recommendations for community development, Green Banks, and other mission lenders on how to (1) integrate and normalize greenhouse gas reduction into development services, financing, and asset management and (2) coordinate/collaborate on the most impactful ways to deploy Greenhouse Gas Reduction Fund (GGRF) dollars to scale clean energy financing in low-income and disadvantaged communities. Recommendations are grounded in deep, hands-on expertise, developed through working groups of relevant market participants and stakeholders who together will estimate the investment opportunity in each market sector, identify barriers and potential solutions to scaling the particular lending line of business, build collaborations necessary for project development, and discuss funding priorities. To download the six equitable strategy guides and view the accompanying webinars click here.
We will continue to update this webpage with new information and resources as they develop—so check back regularly and follow us on LinkedIn for updates!
Our Pitch to You:
- You are needed—every deal, every building, every business, everywhere makes a difference.
- Your organization has unique abilities, strengths, and community relationships to bring to the table, critical to an equity-centered approach to GHGR.
- The most sustainable and impactful play requires coordination, cooperations, and collaboration with other organizations across the project delivery and financing ecosystem—don't waste time and resources on unproductive competition.
For more information about how you can get involved and to access new resources/tools, contact Tina Poole Johnson, Deputy Director.
Learn more about the Greenhouse Gas Reduction Fund, other climate programs of the Inflation Reduction Act, and why and how community development and environmental justice go hand in hand:
- Building Trust, Building Demand for Buildings Energy Improvements: Working Paper #1: Summary of Approaches and Interview Themes
- Text of the Inflation Reduction Act of 2022
- EPA's Implementation Framework for the Greenhouse Gas Reduction Fund
- Center for Impact Finance's Response to the EPA's Request for Information is available for download here
- Speadsheet of IRA programs
- "Green Bank" in climate bill to provide catalytic capital for renewable energy and community resilience, Impact Alpha, August 10, 2022
- EPA Greenhouse Gas Reduction Fund Page - includes opportunities for public comment as well as to learn more about the program
- Letter to EPA Administrator Michael Regan from Michael Swack, Director, Center for Impact Finance, University of New Hampshire
- Summary of the 2022 Financial Innovations Roundtable, "Advancing Clean Energy", held June 16-17, 2022 in partnership with the Federal Reserve Bank of New York
- Clean Energy Project Development for Low-Income Communities Strengthening the Ecosystem for Delivering: Solar Energy and Deep Efficiency Retrofits, Eric Hangen
- Scaling Equitable Solar Finance, Eric Hangen, Rebecca Regan, and Sarah Boege
- Financing Equitable Resilience CIF
Sponsors:
The Equitable Greenhouse Gas Reduction Webinar Series and the equitable startegy guides have been developed by the Center for Impact Finance at the Carsey School of Public Policy, University of New Hampshire, and the Natural Resources Defence Council (NRDC). The work of the Center for Impact Finance is supported by Wells Fargo Foundation and the work of NRDC is supported by the Climate Imperative Foundation and the MacArthur Foundation.
