John,

If you have only 30 seconds to spare, read this:

Ok, climate financing isn’t the easiest concept to understand. Even we at Dream.Org need help to make sense of these terminologies and all the investment lingo. Luckily we have climate finance experts like our very own Daniela Nyiri to help us navigate through its complexities and understand one of the most important climate initiatives to date — the Greenhouse Gas Reduction Fund (GGRF).

Watch Now: Learn About The GGRF

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If you have 2 minutes to spare, read this:

Daniela, what is the Greenhouse Gas Reduction Fund?
In August 2022, President Biden signed the Inflation Reduction Act into law allocating $369 billion to tackle the climate crisis. It is the biggest investment the US has ever made to fight climate change. 

Out of that $369 billion, the IRA allocated $27 billion toward the Greenhouse Gas Reduction Fund (GGRF). The primary goal of the GGRF is to cut emissions in half by 2030 and help us reach net zero by 2050, and it consists of three major grant competitions:

1. $14 billion National Clean Investment Fund: This is all about making our public bucks bring in even more private investment, funding clean energy projects through partnerships with big-time “green” banks. 
2. $6 billion Clean Communities Investments Accelerator: This fund's mission is to spread climate financing far and wide, especially in communities that really need it, through lending hubs across the country.
3. $7 billion Solar for All Competition: It's exactly what it sounds like — getting solar energy into homes in low-income and disadvantaged areas, with grants for state and local governments, territories, tribes and non-profits.

Unlike most government programs, the GGRF is a one-time public investment to help mobilize private capital towards a clean energy transition and help incentivize our focus on the clean energy sector. Because let's face it, right now, our economy still depends on oil and gas. Sure, we have more electric vehicles, but a majority of Americans still drive gas-fueled cars.

This fund wants to change that. The GGRF is a $27 billion down payment to incentivize the private sector to make clean energy investments and expand its reach so that its impact can be felt by communities everywhere.

Want to learn more? I have two easy-to-understand videos out for you to watch and continue the conversation. First, check out my 2-minute GGRF overview on Instagram. And for more, I recommend watching my second video where, in under 5 minutes, I dive deeper into this amazing program.

Get The Overview On GGRF

Interested In Learning More? Check Out This Deeper Dive Into The GGRF

We're this much closer to a world that's green for all. Thank you for your continued support and engagement in our journey towards a more sustainable future.

In solidarity,
— Daniela Nyiri, Dream.Org Green Bank Policy Consultant