![]() ![]() Green bank financing could play a significant role in catalyzing this investment over the next decade. ![]() ![]() 2 “ Navigating America’s net-zero frontier: A guide for business leaders,” McKinsey, May 5, 2022. ![]() To reach net zero by 2050, the United States could need an estimated $27 trillion in climate investment. The analysis also shows this financing can help mobilize hundreds of billions in investment dollars toward achieving net-zero greenhouse-gas (GHG) emissions by 2050. As the analysis in this report illustrates, well-coordinated and strategically targeted green bank financing could advance environmental justice through investment in disadvantaged communities. For more, see “About the Greenhouse Gas Reduction Fund,” US Environment Protection Agency, updated February 14, 2023. 1 The GHGRF includes a further $7 billion for states, municipalities, and tribal governments to finance zero-emission technologies in low-income and disadvantaged communities. It is also the model chosen to disburse $20 billion of the $27 billion authorized in the Greenhouse Gas Reduction Fund (GHGRF), an Inflation Reduction Act of 2022 (IRA) initiative. For well over a decade, green bank financing has channeled public dollars into private investments in green energy and climate transition in nations around the world and at the state and local levels in the United States. ![]()
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