Washington.- The United States Environmental Protection Agency (EPA) has awarded this Thursday $20 billion in subsidies to promote the development of “green” energy projects throughout the country.
The money will come from the new National Fund for Clean Investments and will be given to eight community development banks and non-profit organizations to finance everything from programs to make homes more energy efficient to creating electric vehicle charging networks.
Specifically, the fund will allocate $14 billion to three nonprofit organizations that will work with state governments and the private sector to provide affordable financing.
The rest, $6 billion, will be delivered to five institutions that will provide communities with access to technical assistance as well as project financing.
Climate Action Campaign (CAC), an umbrella organization made up of groups such as Sierra Club, Union of Concerned Scientists and National Hispanic Medial Association, has called the initiative a “progressive and high-impact fund.”
“This is a smart investment in the people who are close to the problems and can implement appropriate solutions that reduce costs, save us energy and move us toward a clean energy future,” said Margie Alt, executive director of CAC.
EPA says in a statement that financing thousands of projects will mobilize private capital “to reduce climate and air pollution while reducing energy costs, improving public health and creating good-paying green energy jobs.” “.
US Vice President Kamala Harris said that the grants “will ensure that families, small businesses and community leaders have access to the capital they need to make climate and clean energy projects a reality.”
GreenLatinos, a nonprofit organization that advocates for “green” policies in the US Latino community, estimates that the grant program will provide “economic opportunities” in more underserved areas and social groups.
Irene Burga of GreenLatinos stated that the announced funds “provide the key financial support needed to implement clean energy and pollution reduction projects.”
For her part, Deputy Executive Director of Climate Power in Action, Antonieta Cadiz, said that “the investments announced today will generate cleaner air, lower energy costs and quality jobs for the communities most affected by the toxic legacy of pollution.” corporate”.
The US Government indicates that the objective of the program is to reduce emissions in the country by up to 40 million tons of carbon dioxide annually.
President Joe Biden's administration has committed that by 2030, the country's emissions will be reduced by up to 52% below 2005 levels to achieve net zero emissions in 2050.
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