Six Green Banks Receive $1.3 Million in Awards and Technical Assistance to Finance Equitable Clean Water Infrastructure
The Coalition for Green Capital (CGC), PRE Collective, and Quantified Ventures (QV) jointly announce their selection of six green banks from across the United States to receive $1.3 million in grants plus technical assistance to build a pipeline of equitable clean water infrastructure projects that directly benefit disadvantaged communities. This funding and technical assistance is a key component of an investment made by the Robert Wood Johnson Foundation (RWJF) in a strategic collaboration between CGC, PRE Collective, and QV to develop scalable financing programs for equitable water infrastructure.
CGC, QV, and PRE Collective are deploying their collective expertise to leverage the RWJF investment to support project development, provide technical assistance for implementation, and fund local staff capacity. These grants are among the programs to be implemented by CGC’s extensive green bank network to address water-related challenges, including clean drinking water, stormwater management, and flooding in disadvantaged communities. Green banks have a proven track record of removing perceived barriers and massively scaling up investments toward clean energy technology and these grants will lead the effort to replicate this approach for clean water investments to rapidly deliver benefits to communities most impacted by a changing climate.
This announcement follows the U.S. Environmental Protection Agency’s (EPA) recent selection of Coalition for Green Capital for an award of $5 billion from the Greenhouse Gas Reduction Fund’s National Clean Investment Fund competition to establish a national green bank. CGC’s national green bank represents a once-in-a-generation opportunity to shift financing interest toward other climate mitigation efforts, such as clean water infrastructure by reinforcing the critical role that green banks must play to reduce emissions, cut costs, and create jobs in communities across the country.
The six green bank initiatives that will each receive approximately $216,000 in grant funding and technical assistance are:
The Connecticut Green Bank, together with Blue Hills Civic Association and other community partners and stakeholders, will focus on opportunities to invest in equitable and climate resilient water infrastructure in Hartford. The Green Bank aims to increase stormwater management through both natural (i.e., parks) and built (i.e., homes) infrastructure solutions, to help revitalize Hartford’s parks as public health infrastructure, and to empower residents to access green solutions to increase their climate preparedness and resilience. To accomplish this the bank will leverage its Smart-E and Capital Solutions programs, expanding their financing capabilities from clean energy to include environmental infrastructure.
The DC Green Bank invests in sustainable water infrastructure projects across the District and plans to leverage this opportunity to expand access to capital and community partnerships. The bank will partner with communities in Wards 5, 7, and 8 to identify water infrastructure solutions that match their needs. Potential projects include water efficiency upgrades in affordable, multi-family housing, on-site renewable energy at local DC Water facilities, and community-based green infrastructure improvements.
Groundswell Capital‘s vision includes growing existing initiatives, such as Tucson’s Tree Equity and Storm to Shade projects, integrating cutting-edge water conservation methods into affordable housing developments, and delivering sustainable, cost-effective water-saving solutions for underserved residents. These planned initiatives extend beyond merely tackling an environmental crisis; they represent a pledge to forge a sustainable future for all Arizonans. Arizona is grappling with a severe water shortage, the result of a 22-year ‘megadrought’ impacting the Colorado River that provides almost 40% of the state’s water. This pressing situation calls for urgent action, particularly in underserved communities.
The Hawaiʻi Green Infrastructure Authority is planning to work with disadvantaged communities across the state to address water quality issues stemming from cesspools, explore energy-neutral on-site water reuse facilities, on-farm water efficiency measures, and water conservation measures that reduce residents’ energy burden. Hawai’i faces unique challenges given its remote location, geography, and prevalence of tourism.
Missouri Green Banc (MGB) is focused on helping disadvantaged communities overcome the persistent challenges they face by identifying and investing in the mitigation of barriers that prevent the implementation of sustainable solutions. The MGB will utilize Missouri DNR permit data and Missouri Rural Water Association benchmarking data to identify underperforming small public and private water systems in disadvantaged communities where investment in new infrastructure could have a significant impact.
Based in Florida, SELF (Solar Energy Loan Fund) is the nation’s first nonprofit Green Bank – Community Development Financial Institution (CDFI) that has a long history of expanding access to financing for disadvantaged communities through its inclusive underwriting methodology that is based on the applicant’s ability to pay, not credit scores. SELF is planning to explore an expansion of its existing wastewater treatment programs, while also exploring new avenues for impact.
Comments from Awardees
Trisha Miller, CEO, DC Green Bank: “DC Green Bank is excited to serve as a grant recipient under this ambitious new equitable clean water infrastructure finance program, and we are grateful to the leadership of the Robert Wood Johnson Foundation, the Coalition for Green Capital, and Quantified Ventures. Sustainable water infrastructure is a pillar of our investment approach, and this program will help take our community partnerships to the next level. We are eager to work across a network of green banks and expand access to capital for water infrastructure projects for District residents.”
Dre Thompson, President, Groundswell Capital: “Groundswell Capital’s inclusion in the first-ever Equitable Clean Water Project cohort marks a historic moment for Arizona. With additional support from the Coalition for Green Capital, Quantified Ventures, and the Robert Wood Johnson Foundation, we are poised to build sustainable, equitable, and thriving economies across the state. This initiative is expected to channel substantial public and private investments that not only conserve and protect our most critical resource – water – but also support Arizona’s most vulnerable communities, aligning with our mission for sustainable and equitable growth.”
Doug Coward, Founder and Director of National Expansion, SELF: “SELF is honored to receive support from the Coalition for Green Capital, Quantified Ventures, and Robert Wood Johnson Foundation to advance Equitable Clean Water Infrastructure projects in partnership with local governments, utilities, and contractors. SELF’s new sewer loan program is an ‘implementation tool’ to assist with septic-to-sewer conversions and lateral line and lead pipe replacement, with a focus on low income and underserved communities.”
Gwen Yamamoto Lau, Executive Director, Hawaiʻi Green Infrastructure Authority: “We are thrilled to be included in this cohort and look forward to collaborating in the design and implementation of financing programs that meet the needs of disadvantaged communities in Hawai’i and across the nation, to reduce greenhouse gas emissions and other pollutants.”
Thomas Sadowski, Chairman, Missouri Green Banc: “We are honored to receive this funding opportunity, which will enable Missouri Green Banc to further our mission of promoting sustainable water infrastructure and advancing equity in disadvantaged communities.”
Comments from Funders and Partners
Eli Hopson, Executive Director and Chief Operating Officer, Coalition for Green Capital: “By providing this funding the Robert Wood Johnson Foundation reinforces the role that a national green bank plays in mobilizing capital for climate mitigation efforts. These six green banks within CGC’s network are learning together how to deploy capital toward exciting water infrastructure projects in their pipeline that will directly benefit disadvantaged communities. Green banks have a role to play using public-private investment to mobilize capital for clean water using the playbook from the energy transition.”
Shalini Vajjhala, Executive Director, PRE Collective: “Multi-benefit, community-centered infrastructure projects are both the most exciting and challenging projects to design and finance. The Robert Wood Johnson Foundation’s investment in early-stage predevelopment with green banks is a transformational opportunity to reimagine how water infrastructure can serve as an entry point for climate action.”
Tee Thomas, CEO, Quantified Ventures: “We are thrilled to work with these forward-thinking green banks, the communities they serve, and local partners to design programs and financial mechanisms that address regional water challenges. Their commitment to addressing environmental justice needs in under-resourced communities will change the trajectory of these communities for generations to come.”
Robert Wood Johnson Foundation Director of Impact Investments Kimberlee Cornett said, “At the Robert Wood Johnson Foundation, we know that challenges brought about by climate change will continue to affect the health and wellbeing of communities that have experienced a lack of investment. We’re proud to support this cohort of green banks with a goal of growing the technical know-how and financing of water infrastructure projects that support the health and wealth of communities.”