Soft Opening for EPA’s Green Bank Funding to Reduce Emissions

On Valentine’s Day, the EPA issued its initial guidance on the design of the Greenhouse Gas Reduction Fund (GGRF) program created by President Biden’s Inflation Reduction Act (IRA). This guidance provides direction for “eligible recipients” to apply for $27 billion in funding from the long-awaited “green bank” that that will provide “financial and technical assistance for projects that reduce or avoid greenhouse gas emissions and other forms of air pollution, with a particular emphasis on projects in low-income and disadvantaged communities.”