GGRF: Qualified Project Proxies

In early 2024, the following principles received directional approval by lender teams that were awarded implementation funding for two of the Greenhouse Gas Reduction Fund (GGRF) programs, the National Clean Investment Fund and the Clean Communities Investment Accelerator. Programs should aspire to:

• Require a minimum value of greenhouse gas (GHG) reductions a project must achieve.

• Not allow use of GGRF funding for the installation of new heating or cooling systems that use fossil fuels.

• Use the Department of Energy’s definition of a zero emissions buildings as a guide, and be clear on how projects will achieve net zero emissions over time.

• Manage/limit the use, volume and distribution of refrigerants being phased out by the Environmental Protection Agency.

• Reduce the energy burden/insecurity (the percentage of income spent on energy/utility costs), particularly for rental housing residents. 

• Address health and safety barriers as part of the scope of work to do no harm; for example, sources of moisture must be addressed before air sealing and adding insulation.

• Prioritize local and minority/women owned contractors.

• Seek a community-informed “localization” of the above principles, taking into account the priorities of local stakeholders.

The linked spreadsheet shows how ~30 commonly used green building rating systems align with these guiding principles. The matrix is intended to assist lenders in their assessment of projects applying for loan funding: