US EPA unveils $20 billion to finance the fight against climate change
US EPA unveils $20 billion to finance the fight against climate change
It will support "green banks" funding green business ventures that might not otherwise get investors.
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"In today’s edition, we’ll cover why U.S. workers have few legal protections from extreme heat. But first:
The EPA is unveiling $20 billion for a national ‘green bank’Today the Environmental Protection Agency launches two grant competitions aimed at financing clean-energy projects across the country, particularly in disadvantaged communities that have struggled to attract private investments.
The grant competitions will dole out $20 billion under the Greenhouse Gas Reduction Fund, commonly known as a “green bank,” established by the Inflation Reduction Act. They come as the EPA races to stand up the green bank despite several obstacles, including depleted staffing levels and House Republicans intent on repealing the spending.
Yet in a short interview yesterday, EPA Administrator Michael Regan projected optimism the agency would rise above these challenges.
“We are very confident we have pulled together the staff to design and implement this program,” he said. “We have the staff on board; we have the expertise on board. And we feel very strongly that this is going to be successful.”