The Environmental Protection Agency (EPA) awarded $20 billion in grants under the Inflation Reduction Act to eight projects under the Greenhouse Gas Reduction Fund (GGRF). The awardees have committed to reducing climate and air pollution; delivering benefits to communities, especially those that are low-income and disadvantaged; and mobilizing financing and private capital. Additionally, the majority of the GGRF recipients are either direct MacArthur grantees, such as Climate United, or longtime Foundation impact investees, in some cases dating back decades, including Calvert Impact Capital, Self Help Ventures Fund, Enterprise Community Partners, and Local Initiatives Support Corporation. Grantees United States Energy Foundation and the Hive Fund for Climate and Gender Justice also supported awardees.
The Coalition for Green Capital, both a MacArthur and Catalytic Capital Consortium Grantmaking awardee, helped make the case for what became the GGRF, and is a direct recipient of EPA support. MacArthur also supported recipients of these EPA awards through Invest in Our Future Fund which we helped to catalyze to ensure that these federal clean energy investments are deployed in an effective and equitable manner. This includes support for the Justice Climate Fund and longtime investees, the Opportunity Finance Network, and Inclusiv. These EPA awards will help individuals protect their homes from climate impacts, modernize their appliances and community infrastructure, and ensure that all communities, especially those that have been historically marginalized, benefit from the energy transition.
