Community Finance for Climate Action, is a groundbreaking collaborative between Inclusiv and SaverLife that will lift up innovative solutions that both address climate change and support the financial well-being of households with low incomes. Supporting lower-income households to shift toward a greening economy can reduce their energy cost burden, strengthen their financial stability, and increase job, business, and economic opportunity.
To achieve an equitable and green economy and ensure the benefits of the Greenhouse Gas Reduction Fund (GGRF) reach historically excluded communities, leaders in the financial health field must inform and engage low-income people and ensure our climate strategies center financial health and consumer protection. The vision for Community Finance for Climate Action (CFCA) is to:
- Convene organizations actively working in the ecosystem to coordinate our work;
- Share our results and best practices;
- And support the strategies that will best help households gain the supports, education and tools to access the opportunities presented by the GGRF.
Now is the time to invest in innovative and collaborative approaches that engage across sectors (public, private, nonprofit) and fields of practice (finance, climate, housing, transportation, entrepreneurship).
Community Finance for Climate Action will track the financial impacts of climate change on households living with low incomes and bring their experiences to light; engage with impacted households and those who serve them to identify effective solutions; and generate meaningful engagement and collaboration throughout the financial health field. CFCA will engage across sectors and fields of practice to coordinate work, share results and best practices, and support the strategies that will empower low-income households to access the opportunities presented by the Inflation Reduction Act.
Key activities over the next year include:
- Mapping the field and identifying opportunities for action, including identifying and engaging financial health leaders, climate equity leaders, private sector leaders, and policymakers as well as community lenders delivering consumer and residential clean energy project.
- Establishing baseline metrics and shared research agenda through expanding the testing and implementation of the “National Household Climate Finance Tracker” through identified community development credit unions and Financial Health service providers.
- Engaging directly with consumers and communities through working sessions with community lenders and analyzing the impact and effectiveness of messaging and outreach efforts.
- Sharing our learnings and planning for the future
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