Senator Tom Carper (D-Del.), Chairman of the Senate Environment and Public Works (EPW) Committee, today joined Vice President Kamala Harris and Environmental Protection Agency (EPA) Administrator Michael Regan to announce the launch of the National Clean Investment Fund and the Clean Communities Investment Accelerator - two competitive $20 billion grant programs under the Greenhouse Gas Reduction Fund (GGRF).
The competitive grants will mobilize private capital into clean technology projects to create good-paying jobs and lower energy costs for American families, especially in low-income and disadvantaged communities, while cutting harmful pollution to protect people's health and tackle the climate crisis.
They were joined by Senator Ed Markey (D-Mass.), Senator Chris Van Hollen (D-Md.), Congressman Frank Pallone (D-N.J.-06), Congressman David Trone (D-Md.-06), as well as local climate leaders.
"The President and I set ambitious goals to cut our greenhouse gas emissions by half by 2030 and reach net-zero emissions by 2050—the investments announced today move our nation towards achieving these goals and a cleaner, healthier future for generations to come," said Vice President Kamala Harris. "Students, small business owners and community leaders with innovative ideas to reduce our emissions and accelerate our clean energy transition will now see their projects become reality, all while creating good-paying jobs and a clean energy economy that works for all."
"Communities on the front lines of the climate crisis will be the first to reap the benefits of President Biden's historic investments in the clean economy," said EPA Administrator Michael S. Regan. "The Greenhouse Gas Reduction Fund will spur private investment into clean technology projects and expand economic opportunity for communities that have been left behind, for families that want lower energy costs, and for workers who need good-paying jobs. This is what President Biden's Investing in America agenda is all about."
"The Inflation Reduction Act is proof that we can address the climate crisis and advance environmental justice while lowering energy costs and creating good-paying jobs across our country," said Senator Tom Carper. "When drafting the Greenhouse Gas Reduction Fund, we wanted to ensure that these unprecedented clean energy investments would benefit often overlooked communities with the greatest need. I am thrilled that the Biden-Harris administration is working quickly to responsibly implement this program that will help make clean energy a reality for millions of additional Americans."
"Today, communities around the country are getting a green light for a new historic era of green financing," said Senator Edward J. Markey (D-Mass.), Chairman of the Senate Environment and Public Works Subcommittee on Clean Air, Climate, and Nuclear Safety. "As the lead sponsor of the National Climate Bank Act, I am thrilled to celebrate the hard work of Administrator Regan and the Biden-Harris administration and herald the start of a national clean financing network, funded by the landmark investments of the Inflation Reduction Act. From clean transit to healthy housing, applicants to this program will bring life-changing projects to environmental justice and frontline communities around the country, delivering on the promise of a livable future for all."
"It's been over a decade since we first put the idea of creating a national climate bank on paper. Today, that idea is becoming a reality. With the launch of the Greenhouse Gas Reduction Fund, we are deploying powerful tools to help us address climate change through innovative new solutions while creating jobs and growing our economy. These funds will serve as a force multiplier for private investment in clean energy projects to cut emissions and promote environmental justice in underserved communities across the country. This is a win for workers, our economy, and our fight to confront the climate crisis," said Senator Chris Van Hollen (D-Md.).
"Last week was the hottest week in recorded history. I fought to enact this first-of-its-kind Greenhouse Gas Reduction Fund because the climate crisis is here, and we need to use every tool in our toolbox to equip our communities with the resources they need to combat it. Thankfully, today's announcement is a huge leap forward in the right direction," said Congressman Frank Pallone, Jr. (D-NJ-06), Ranking Member of the House Energy and Commerce Committee. "These new funding competitions have the power to transform our nation by deploying homegrown clean energy, slashing dangerous climate pollution, creating new, middle-class jobs, and ensuring no community is left behind. I'm pleased with how quickly EPA is getting this critical program off the ground and I look forward to the much-needed help it will deliver to Americans across the country."
"The Greenhouse Gas Reduction Fund is a historic program that will help us attack the climate crisis head on," said Congresswoman Debbie Dingell (D-MI-06). "The announcement of these remaining grant competitions is critical to swiftly distributing these investments to meaningful projects and communities in most urgent need, moving us closer to an equitable clean-energy economy. I applaud this announcement and look forward to continuing to work with the EPA, my colleagues in Congress, and all our partners to create good paying jobs, bring down energy costs, and reduce our carbon emissions with these investments."
Source: https://www.epw.senate.gov/