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Credit Unions Are Key to Reaching Climate Justice Goals

The Greenhouse Gas Reduction Fund is an opportunity to advance equity while addressing the climate crisis.

By Cathie Mahon | June 23, 2023 at 09:00 AM
Earth conservation Source: Shutterstock

The time to create equitable environmental, energy and financial policy in the U.S. is now. The Greenhouse Gas Reduction Fund (GGRF), a key component of the Inflation Reduction Act that will provide $27 billion in funding for clean energy projects and energy efficiency upgrades with a focus on “low-income and disadvantaged” communities, is not just a new capital source. It’s an opportunity to advance equity while addressing the climate crisis, and credit unions are poised to play a key role in this crucial work.

This week Inclusiv had the opportunity to testify before the Senate Climate Change Task Force to highlight how credit unions’ participation in GGRF will be critical not just to ensuring that the program reaches the low-income and under-resourced communities that Minority Depository Institution (MDI), Community Development Financial Institution (CDFI) and Low-Income Designated (LID) credit unions serve but also to meeting GGRF’s air pollution and emissions reduction goals.

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