The landmark USD 27 billion to be disbursed by the Greenhouse Gas Reduction Fund (GGRF) presents a historical opportunity to address the climate crisis, ensure economic competitiveness, and promote energy independence while delivering lower energy costs, economic revitalization, and climate resilience to communities that have historically been left behind.

Created under the U.S. Inflation Reduction Act in 2022, the GGRF is set to disburse grants by the summer of 2024 to mobilize financing and private capital to projects that reduce GHG emissions in the United States. The funds will be made available to state, local, and Tribal governments, as well as non-profit institutions, especially for low-income and disadvantaged communities (LIDACs) to address the climate crisis.

How can different stakeholders in the GGRF ecosystems work together to ensure that these funds catalyze the maximum benefits for all? 

Climate Policy Initiative hosted a virtual panel discussion on Tuesday, February 26 2024 to explore how to harness the fund’s transformative potential.

Introduction: Mercedeh Mortazavi, Vice President, Global Philanthropy, JPMorgan Chase & Co.

Moderator: Stewart Sarkozy-Banoczy: Founder, Precovery Labs; Board of Directors, Four Bands Community Fund;  Member, NDN Fund Loan Committee and Steering Committee

Panelists: 

• Dan Adler: Deputy Director for Climate Finance, California Infrastructure and Economic Development Bank (IBank) 
• Duanne Andrade: Executive Director at SELF (Solar and Energy Loan Fund) 
• Jessel Amin, Executive Director, Senior Commercial Banker, Community Development Banking – Intermediaries Lending, J.P. Morgan

The webinar built on recent findings from CPI research on recommended actions to ensure the GGRF’s effectiveness as well as on related investment needs, barriers, and opportunities.

Watch REcording