‘Green Bank’ Network To Fund Climate Projects

The federal government announced a $20 billion investment to support low-interest loans for climate and clean energy projects.

1 minute read

April 8, 2024, 10:00 AM PDT

By Diana Ionescu @aworkoffiction


Two workers in white hard hats looking up at large photovoltaic solar panels.

agnormark / Adobe Stock

A new ‘green bank’ network created by the Biden administration will provide low- or zero-interest loans to fund climate and clean energy projects, with a focus on historically underserved communities.

According to an article by Kristoffer Tigue in Inside Climate News, “Under the Environmental Protection Agency’s Greenhouse Gas Reduction Fund—also known as the country’s first national green bank—eight community development banks and nonprofit organizations will receive that federal funding to go toward rooftop solar installations, energy efficiency upgrades and other projects that help reduce greenhouse gas emissions.”

The program falls under the federal Justice40 initiative, which requires that 40 percent of benefits from certain federal programs go to disadvantaged communities. Carla Walker, director of environmental justice and equity for the World Resources Institute’s U.S. branch, calls the $20 billion investment “a crucial step toward addressing longstanding inequities and barriers to accessing much-needed capital for the communities that need it most.”

Thursday, April 4, 2024 in Inside Climate News

portrait of professional woman

I love the variety of courses, many practical, and all richly illustrated. They have inspired many ideas that I've applied in practice, and in my own teaching. Mary G., Urban Planner

I love the variety of courses, many practical, and all richly illustrated. They have inspired many ideas that I've applied in practice, and in my own teaching.

Mary G., Urban Planner

Get top-rated, practical training

Bird's eye view of manufactured home park.

Manufactured Crisis: Losing the Nation’s Largest Source of Unsubsidized Affordable Housing

Manufactured housing communities have long been an affordable housing option for millions of people living in the U.S., but that affordability is disappearing rapidly. How did we get here?

March 25, 2025 - Shelterforce

U-Haul truck on road with blurred grassy roadside in background.

Americans May Be Stuck — But Why?

Americans are moving a lot less than they once did, and that is a problem. While Yoni Applebaum, in his highly-publicized article Stuck, gets the reasons badly wrong, it's still important to ask: why are we moving so much less than before?

March 27, 2025 - Alan Mallach

Rusty abandoned oil well and equipment with prickly pear cactus next to it in West Texas.

Using Old Oil and Gas Wells for Green Energy Storage

Penn State researchers have found that repurposing abandoned oil and gas wells for geothermal-assisted compressed-air energy storage can boost efficiency, reduce environmental risks, and support clean energy and job transitions.

March 31, 2025 - Pennsylvania State University

Downtown Los Angeles skyline viewed from a distance with freeway and trees in foreground.

Updating LA’s Tree Rules Could Bring More Shade to Underserved Neighborhoods

A new USC study finds that relaxing Los Angeles’ outdated tree planting guidelines could significantly expand urban tree canopy and reduce shade disparities in lower-income neighborhoods, though infrastructure investments are also needed.

April 3 - USC Dornsife

Aerial view of Claifornia aqueduct with green orchard on one side.

California's Canal Solar Projects Aim to Conserve Resources and Expand Clean Energy

California’s Project Nexus has begun generating electricity from solar panels installed over irrigation canals, with researchers and state agencies exploring statewide expansion to conserve water and boost clean energy production.

April 3 - Turlock Journal

Close-up of older woman's hands resting on white modern heating radiator mounted on wall indoors.

HHS Staff Cuts Gut Energy Assistance Program

The full staff of a federal program that distributes heating and cooling assistance for low-income families was laid off, jeopardizing the program’s operations.

April 3 - The New York Times