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Deploy! | James McIntyre
Greening down payment assistance to create better homes and better mortgages

Editor’s Note: Community Finance Brief is a newsletter from Matt Posner of Court Street Group, occasionally syndicated on ImpactAlpha. An enduring and perhaps …

Greening downpayment assistance 
Low-carbon transition | Louie Woodall
Science Based Targets Initiative meets realpolitik on the path to Net Zero
Deploy! | Amy Cortese
For this Earth Day, the White House delivers a $7 billion message: Solar for All
Climate Finance | Andrea Riquier
A ‘dual debt-climate challenge’ for the world’s poorest nations
hurricane aftermath
Climate Finance | Jessica Pothering
Spring Meetings yield green shoots of development finance reform at the World Bank
World Bank Washington DC

Dealflow

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housing development South Africa
April 22, 2024 | ImpactAlpha
The Brief: Solar for all

Greetings Agents of Impact and happy Earth Day to you! In today’s Brief: Featured: Climate Finance For this Earth Day, the White House …

Today’s brief

Featured: Climate Finance

For this Earth Day, the White House delivers a $7 billion message: Solar for All. “Cheaper, faster, better” is not just for affluent households or wealthy neighborhoods. Hundreds of millions of dollars in annual cost savings from ever-cheaper solar energy are expected to flow to 900,000 low-income households under the Environmental Protection Agency’s $7 billion Solar for All program. The third chunk of the $27 billion Greenhouse Gas Reduction Program is being awarded today to states, municipalities, tribal entities and nonprofits (awards for the GGRF’s National Clean Investment Fund and the Clean Communities Investment Accelerator were announced earlier this month). The Solar for All grants cover every region and territory of the US, from Alaska to Guam, in many cases bringing solar to low-income residents for the first time. “Cheaper, Faster, Better” is the title of a new book by investor Tom Steyer on how to win the climate war. “Solar is the cheapest form of electricity – and one of the best ways to lower energy costs for American families,” said John Podesta, President Biden’s advisor for clean energy innovation. 

Dealflow: Muni Impact

Michigan raises $53 million to green its healthcare services. The five hospitals and more than 250 care sites in Michigan’s Henry Ford Health System employ 33,000 people and provide care for many low-income and underinsured Michiganders. The Michigan Finance Authority has raised $53 million as part of a $250 million green bond series to support the health system’s sustainability goals. The bond is being featured as part of ImpactAlpha’s collaboration with HIP Investor to highlight municipal bonds with environmental or social significance. The proceeds will enable Henry Ford Health System to electrify its water heating and cooling functions as part of an effort to halve its greenhouse gas emissions by 2030. HFHS is also aiming to halve its landfill waste, eliminate hazardous chemicals, and source 30% of its food locally and sustainably to “reduce operational costs while enhancing community well-being by minimizing pollution,” writes HIP’s Anna Rautenberg. HIP gives the organization a net-positive impact rating of 68.6 on a scale of 100.

Signals: Deploy!

Science Based Targets Initiative meets realpolitik on the path to net zero. An apparent reversal by one of the main arbiters of corporate climate action plans has roiled climate activists and advocates and highlighted tensions between policy pragmatism, big money donors and “science-based” climate strategies. At issue: the proper role of the $2 billion voluntary carbon market in helping corporations meet their climate targets. Nearly two weeks of drama have upended the Science Based Targets Initiative, or SBTi, one of the world’s most influential corporate climate action organizations, ImpactAlpha contributor Louie Woodall reports.

Agents of Impact: Follow the Talent

Galway Sustainable Capital adds Derek Porter, formerly with Earthrise Energy, and Steve Hane, formerly with Steelhead Composites, as vice presidents of asset management. The investment firm also adds Jennifer Simpson, previously with Anzu Partners, as chief operating officer, and Kara Parmelee, formerly with Paul Hastings, as general counsel… Rochdale Capital appoints Jessie Lee, managing director of Renaissance Economic Development Corp., to its loan committee.

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