Eight nonprofits to administer $20 billion in federal climate funds

Eight nonprofit agencies will administer $20 billion in federal funds designated to combat climate change and reduce pollution.

The Biden administration previously announced that these funds, included in Democrats’ 2022 Climate Change, Taxes and Health Care Act, would be administered by a combination of large national agencies and smaller local agencies.

But it was unclear which organizations would be responsible or how many of them would do so.

The eight selected agencies will be formally announced Thursday by Vice President Kamala Harris and EPA Administrator Michael Regan.

Targeted institutions are Climate United Fund, Coalition for Green Capital, Power Forward Communities, Opportunity Finance Network, Inclusiv, Justice Climate Fund, Appalachian Community Capital, and Native CDFI Network.

“The grants announced today will help ensure families, small businesses and community leaders have access to the funding they need to make climate change and clean energy projects a reality in their neighborhoods.” Harris he said in a written statement.

The Biden administration said in a press release that these organizations have helped thousands of people, businesses and community groups access funding for climate-friendly projects.

He added that the federal capital would enable the construction of tens of thousands more projects.

Federal funding is under scrutiny by Republicans, who criticize it. “Secret money” and proposed to abolish it. If Republicans regain control of both chambers of Congress and the White House, they could seek to repeal the bill, which could be more difficult if it has already been distributed to outside groups.

Meanwhile, environmental groups say the funding is an important way to strengthen climate action across the country.

“This is an unprecedented investment in climate action and communities,” said Adam Kent, director of blended finance at the Natural Resources Defense Council.