WASHINGTON—The U.S. Environmental Protection Agency (EPA) has released new details about the design of the $27-billion Greenhouse Gas Reduction Fund (GGRF), a “first-of-its-kind,” national-scale competitive grant program created by the President’s Inflation Reduction Act.
As CUToday.info has reported, several credit union trade groups, and especially Inclusiv, have stated there are lending opportunities to be had for credit unions in the GGRF.
“This program, part of the Investing in America agenda, will leverage public investment with private capital and finance clean energy projects that reduce pollution and energy costs, increase energy security, and create good-paying jobs, especially in low-income and disadvantaged communities and places that have historically shouldered the burden of harmful pollution,” the EPA said. “The GGRF will catalyze investment in thousands of clean energy projects, build the capacity of community lenders to drive local economic growth, and deploy cost-saving solar energy on rooftops and in communities across the country.”
The EPA added the release of the GGRF implementation framework comes as it marks Earth Week and the “unprecedented investments” in “protecting the planet and American families and communities as part of President Biden’s Investing in America agenda.”
The EPA further said the implementation framework follows the initial guidance it released earlier this year and outlines a clear vision for the three grant competitions EPA will administer under the GGRF program, including preliminary descriptions of key parameters, application requirements, and reporting obligations.
Intent of Framework
The EPA said the implementation framework is intended to provide continued transparency and respond to stakeholder requests for additional information on EPA’s anticipated program design and application requirements in advance of the Notices of Funding Opportunity that will formally kick off the application process as early as June 2023 and reflect EPA’s final determinations on program priorities and requirements.
Comments on the framework can be submitted through May 12. Over the next two weeks, the EPA will hold listening sessions – details will be made available online – and the agency plans to begin the GGRF application process in June, the agency said.
Feeling the FOMO Fever? CUToday.info Has a Prescription
Are you missing out on the latest news in credit unions? Missing the trends and developments you need to be aware of? We can help. Each morning CUToday.info delivers its daily Fresh Today news update offering the latest headlines and breaking news right to your email, with the easy-to-read headlines format allowing you to click on the stories that interest you most in order to learn more.
And it’s free!
If you haven’t yet signed up for the new email solution on which CUToday.info has partnered with ResponseGenius, you can do so here. Signing up requires less than one minute of your time—and it’s free!
Please note that after signing up you may need to go to your Spam/Junk folder and mark the morning headlines email as safe. CUToday.info does not provide its list of readers and emails to outside parties, and we will not be contacting you to sell you an extended warranty or sending you any links so you may cash in on an inheritance you didn’t know was coming.
And did we mention it’s free?
Please note and/or make your IT department or email administrator aware the emails will be coming from the domains CUTodayinfo.com and CUTodayinfoReply.com