Transportation Pollution Reduction Highlighted in the EPA’s Greenhouse Gas Reduction Fund Implementation Framework
By Trevyr Meade
The EPA’s $27 billion Greenhouse Gas Reduction Fund was created as part of the Inflation Reduction Act with the goal of mobilizing private capital for clean energy and climate projects. In its recently released Implementation Framework, the EPA called out projects, technologies, or activities that support zero-emissions transportation modes as one of three priority categories for $20 billion of the funding. The EPA expects to allocate this $20 billion to up to 10 nonprofits that will partner with private capital providers and community lenders to deploy the funds into climate projects. This is an exciting development for those passionate about decarbonization within the parking and mobility industry.
The EPA is accepting comments on its Implementation Framework until this Friday, May 12th. It intends to open grant applications for funding this summer and award all the funds in 2024. More information on the Fund is available on the Greenhouse Gas Reduction Fund website. While the funds won’t be deployed into actual projects for some time the website is a helpful resource for staying up-to-date on when and how the funds will be deployed.
Trevyr Meade is a program manager with the Green Business Certification Inc. (GBCI) and is a member of IPMI’s Sustainable Mobility Task Force. He can be reached at tmeade@gbci.org.