Your Voice is Needed: Greenhouse Gas Reduction Fund


A Message from Maurice Smith, Esq.

Dear Credit Union Friends,

I imagine that you, just like me, have been inundated with emails, from across the credit union and CDFI fields on the Greenhouse Gas Reduction Fund (GGRF). I have had the opportunity and pleasure during much of my credit union career to collaborate with Inclusiv on matters that affect us all. I wanted to take a few minutes to share with you the reasons why I am supporting the Inclusiv GGRF application:

I imagine that you, just like me, have been inundated with emails, from across the credit union and CDFI fields on the Greenhouse Gas Reduction Fund (GGRF). I have had the opportunity and pleasure during much of my credit union career to collaborate with Inclusiv on matters that affect us all. I wanted to take a few minutes to share with you the reasons why I am supporting the Inclusiv GGRF application:

  1. Inclusiv is the leader in credit union clean energy and climate finance. In 2019, Inclusiv launched its Center for Resiliency and Clean energy, which included free green lending training programs for credit unions, as well as other community lenders, interested in developing affordable financing solutions for green projects in their communities. This training was the first of its kind in the United States. It quickly grew to train more than 500 lenders from over 200 community-based financial institutions. Since launching the Center for Resiliency and Clean Energy, the Inclusiv team has built internal expertise, strategic external partnerships, and a robust alumni program, which includes ongoing green lending education and support. Inclusiv will use the GGRF to build on its already strong foundation of credit union green lending.
  2. Inclusiv has a clear vision for how to bring the benefits of clean energy and reduced greenhouse gas emissions to low-income communities and communities of color. The GGRF represents a once-in-a-lifetime opportunity to make sure the benefits of solar, energy efficiency, and other clean energy technologies reach the communities and members that Inclusiv’s network of credit unions serve – those who are most impacted by climate events, poor air quality and rising utility bills. Inclusiv will be able to quickly and equitably mobilize its credit union network to provide GGRF funding to build a green loan program, including, for individual lenders, grants of up to $10 million for capitalization funding and up to $1 million for technical assistance.

We have a once in a lifetime chance to raise and channel substantial investment that will accomplish joint goals of creating more inclusive, equitable and sustainable economies. Inclusiv is well positioned to deliver on this promise by catalyzing credit unions to deliver affordable clean energy loans to low-income and disadvantaged communities across the United States.

If you are a credit union and want to join me in supporting Inclusiv’s GGRF application, please submit a letter of interest (template here). Please email your letters to hkramer@inclusiv.org by Friday, September 29th. These letters are non-binding, and you can submit to multiple GGRF applications.

If you are a league or industry member, please consider writing a letter of support for Inclusiv’s application (template here). Please email your letters to hkramer@inclusiv.org by Friday, September 29th. These letters are non-binding, and you can submit to multiple GGRF applications.

Inclusiv is also proud to be a part of the Justice Climate Fund (JCF) Coalition, which is led by the Community Builders of Color Coalition, and designed to provide capital, leverage resources, and support zero-emission technologies in low-income and disadvantaged communities across the United States. The coalition members have over 100 years of collective experience focused on diverse communities of color and high poverty regions. If you are a lender interested in scaling your green loan program, please sign this letter of commitment (template here). Please email your letters to hkramer@inclusiv.org or sign-on to JCF’s portal (HERE). The deadline to submit is Monday, October 2. These letters are non-binding, and you can submit to multiple GGRF applications.

I hope you’ll all join me in supporting Inclusiv’s GGRF application.

In cooperation,

 

 

 

Maurice Smith, Esq.

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