Fitts Quoted on $27-Billion EPA-Led Green Bank

Partner Sarah A. W. Fitts was quoted on the US Environmental Protection Agency’s (EPA) Greenhouse Gas Reduction Fund, a first-ever federal green bank authorized by the Inflation Reduction Act that will distribute $27 billion to clean energy and greenhouse gas emission-reduction projects, particularly in low-income and disadvantaged communities.

Sarah said that while several state and local green banks exist, they pale in size to what the EPA is being asked to set up. This level of institutionalized financing has traditionally been carried out by agencies such as the US Department of Energy.

"A green bank could be so many different things,” Sarah said. “It could be a lender, an equity holder, subordinated lender, lots of things that commercial lenders won't do. But the EPA hasn't done this before."

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