The U.S. is about to get its first national accelerator for green banks, which are institutions that use innovative financing to accelerate the transition to clean energy. It is time for our city officials to claim these funds for Chicago. The Inflation Reduction Act unlocked a nearly $370 billion budget allocated to a range of programs that address the climate crisis.
One of these programs is the Greenhouse Gas Reduction Fund, a $27 billion accelerator for financing projects that will reduce greenhouse gas emissions. Importantly, a percentage of the funds must be used to benefit disadvantaged communities. However, in order to receive these funds, our local officials must apply through the EPA.
