Local Infrastructure Hub releases Guide to EPA's Greenhouse Gas Reduction Fund
New resource for cities at the Local Infrastructure Hub
The Greenhouse Gas Reduction Fund (GGRF), established under the Inflation Reduction Act (IRA) as a $27B investment, is a pivotal initiative aimed at mobilizing financing and leveraging private capital for clean energy and climate projects. The focus extends to reducing pollution nationwide, with a special emphasis on ensuring these benefits reach low-income and disadvantaged communities (LIDAC).
Administered by the Environmental Protection Agency (EPA), the GGRF will channel financing through green banks and financial intermediaries to support climate action projects in cities. This initiative encompasses innovative financing mechanisms such as direct lending, credit enhancements, loan aggregation, co-investment, and green bonds. Comprising three distinct but complementary programs, the GGRF is poised to significantly impact the landscape of clean energy investments across the country.
Earlier this week, the Nowak Metro Finance Lab, in collaboration with Accelerator for America and the Local Infrastructure Hub, published an Introduction to the Greenhouse Gas Reduction Fund resource with:
an overview of what GGRF is and its component programs,
a guide to how cities can prepare for GGRF Financing, and
details on eligible projects.
In the last several months, the Nowak Lab has been partnering with Accelerator for America to publish Transformative Projects Case Stories with the Local Infrastructure Hub, highlighting how cities are leveraging new sources of federal funding authorized by the IIJA and IRA, with more to come as federal funding from this legislation continues to flow to cities.
Key Links:
Introduction to the Greenhouse Gas Reduction Fund
For a full list of currently available grant programs under the Infrastructure Law and other helpful tools, take a look at our Helpful Resources page.