Young, Gifted & Green Celebrates Biden-Harris Administration’s Historic $20 Billion Investment in Clean Energy and Climate Solutions

Apr 4, 2024 | BM4F Spotlights, Events, Policy Statements | 0 comments

Uplifting a Historical Moment for Building Green Wealth in Black Communities

FOR IMMEDIATE RELEASE

Contact:

LaTricea D. Adams | media@younggiftedgreen.org

April 4, 2024

Young, Gifted & Green, a leading black women-led and founded national environmental justice organization, commends the Biden-Harris Administration on its announcement of $20 billion in awards to expand access to clean energy and climate solutions, while lowering energy costs for communities across the nation. This groundbreaking initiative, funded through the Environmental Protection Agency’s Greenhouse Gas Reduction Fund, represents a significant step towards tackling the climate crisis and promoting environmental justice.

“This announcement is a game-changer for communities that have historically been left behind and burdened by pollution. By targeting low-income and disadvantaged communities, this funding will not only reduce harmful climate pollution but also improve air quality, lower energy costs, and create good-paying jobs. It is a testament to the Biden-Harris Administration’s commitment to equity and environmental justice.”

LaTricea D. Adams, Founder, CEO, and President of Young, Gifted & Green, and White House Environmental Justice Advisory Council Appointee

The $20 billion in awards will be distributed through two programs under the Greenhouse Gas Reduction Fund— the $14 billion National Clean Investment Fund (NCIF) and the $6 billion Clean Communities Investment Accelerator (CCIA). These initiatives will establish a national network of mission-driven, community-led financial institutions to finance climate and clean energy projects, with a particular focus on low-income and disadvantaged communities.

Through the NCIF, selected applicants will partner with the private sector and community organizations to provide accessible and affordable financing for new clean technology projects nationwide. The three NCIF selectees include Climate United Fund, Coalition for Green Capital, and Power Forward Communities. These organizations bring a wealth of experience and a strong track record of success in investing in low-income and disadvantaged communities, rural communities, and Tribal communities.

The Clean Communities Investment Accelerator (CCIA), will support the establishment of hubs that provide funding and technical assistance to community lenders financing clean technology projects in low-income and disadvantaged communities. The five selectees of the CCIA are Opportunity Finance Network, Inclusiv, Native CDFI Network, Justice Climate Fund, and Appalachian Community Capital.

Notably, at least 70% of the announced funds—over $14 billion—will be invested in low-income and disadvantaged communities, including communities of color, rural communities, and Tribal communities. This commitment to justice and inclusivity aligns with the Biden-Harris Administration’s Justice40 Initiative, which aims to ensure that 40% of the benefits from federal climate and clean energy investments flow to disadvantaged communities.

Young, Gifted & Green is thrilled to witness the implementation of the Greenhouse Gas Reduction Fund and looks forward to the positive impact it will have on communities nationwide. This bold initiative marks a crucial milestone in the fight against climate change and the pursuit of environmental justice.

Read the official White House announcement HERE and the official EPA press release HERE.

About Young, Gifted & Green

Young, Gifted & Green (Formerly Black Millennials 4 Flint) is a national civil rights and environmental justice organization that aims to unite like-minded organizations to advocate against the crisis of lead exposure and environmental injustice in disadvantaged communities.

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