HOPE Submits Comments to Greenhouse Gas Reduction Fund

February 7th, 2023

November 23, 2022

Low-resourced communities often experience the most damaging effects of climate change. When disaster strikes, communities in the Deep South are often situated in precarious and poorly protected areas. Public resources are also often slow to reach these areas. The Greenhouse Gas Reduction Fund (GGRF) provides an opportunity to change this pattern – to engage and invest in low-income communities and people of color with a proactive focus on long-term solutions. Community Development Institutions like HOPE are uniquely equipped and have a long track record of deploying public funding for climate-inflicted disaster response.

HOPE has published comments in response to the Environmental Protection Agency’s (EPA) request for information on the GGRF. The spirit of these comments is to ensure that the people and communities most in need are not only able to receive resources, but also meaningfully participate in the process.

The following are key recommendations addressed in that comment.

Structure & Eligibility

When structuring the program, the EPA should invest in multiple applicants of diverse backgrounds and leadership. Applicants should have a strong track record of deploying funds and familiarity with serving communities of color in economic distress. This will allow resources to be deployed to neighborhoods quickly and provide opportunities to reach underserved neighborhoods— who rely on a variety of news sources and strong local ties.

Financial Technical Assistance & Outreach

To reach intended climate outcomes, the EPA should provide direct, affordable, flexible financing to low-income people, technical assistance to lenders and borrowers to facilitate the accessing of resources and subsidies, and targeted outreach to communities of color to raise awareness around financial benefits of clean energy solutions.

HOPE’s full comment is available here.