Today, the Environmental Protection Agency (EPA) released its initial guidance on the design of the Greenhouse Gas Reduction Fund (GHGRF) program, created by the Inflation Reduction Act, found here.
The Community Builders of Color Coalition led by the African American Alliance of CDFI CEOs commends the EPA for its thoughtful approach in announcing plans to award Greenhouse Gas Reduction Funds to multiple entities. By allowing diverse participation, the EPA ensures that organizations engaged in serving low-income and disadvantaged communities will have an opportunity to deliver green energy solutions to communities that have historically lacked access to such investments.
The Coalition will fight to ensure that the BIPOC-led financial institutions who are embedded in these communities will not be overlooked.
About the The Community Builders of Color Coalition
The Community Builders of Color Coalition (The Coalition), led by the Alliance, is a group of 11 national BIPOC financial institutions urging the U.S. Environmental Protection Agency (EPA) to ensure that minority communities can benefit equally from the Greenhouse Gas Reduction Fund (GHGRF) as authorized by the Inflation Reduction Act. The Coalition advocates for equity in all aspects of the GHGRF implementation, and that at least 40% of awarded capital goes to community financial institutions such as CDFIs, MDIs and credit unions.
The Coalition is comprised of 11 member organizations below:
- African American Alliance of CDFI CEOs
- The Chisholm Legacy Project
- National Bankers Association
- Native CDFI Network
- National CAPACD
- National Association for Latino Community Asset Builders
- Oweesta Corporation
- Prosperity Now
- US Black Chambers
- National Urban League
For more information, visit our Coalition page.