Greening Community Finance
Clara Grantier
Proposal Status
Ready for Committee Review
Username
Clara Grantier
Proposer First Name
Clara
Proposer Email
clara.grantier@greenbank.ny.gov
Proposer Last Name
Grantier
Proposer Job Title
Analyst
Proposed Session Description
The unprecedented amount of public funding earmarked for climate justice over the past year will only be impactful if it is deployed effectively. NY Green Bank will share a case study of investing capital into equitable building decarbonization through existing channels – New York’s CDFIs, credit unions, and local banks that have been investing in disadvantaged communities for decades and are thus best equipped to deploy new sources of DAC-focused funds.
Why is this session important?
2 main components:
-With unprecedented amounts of public funding available for environmental justice and climate equity initiatives, many stakeholders are now turning to the next step – how to get this money out the door. How do we most efficiently and effectively deploy these funds into the communities and projects that need them? Specifically, this session will ask: how can green financing sources use existing pathways to reach disadvantaged communities?
-The worlds of climate finance and social impact finance remain largely siloed, with different financing products, parameters, standards, etc. Investing in climate justice projects requires these worlds to intersect. NYGB will share insights from its experience bridging this gap through community lender partnerships, and gather feedback from/facilitate discussion among the audience to share their perspectives.
Comments
NYGB has innovated in the way
Round 1 YES. NYGB has innovated in the way they bring capital to building decarbonization. Rather than try to figure out how to lend to smaller building projects, they will lend to the lenders that are developing these financing products. Just announced a $250mm Decarbonization Fund to lend up to $25mm per lender targeted to DAC or affordable housing. Loans will be made at 1.5% and its the first time NYGB has lent funds at below market rates. The proposal needs to be further developed.
Diversity and Inclusiveness
Session content is focused entirely on beneficial investments in disadvantaged communities. Speakers include a woman and a person of color.
Learning Objectives
Leverage existing expertise and proven strategies when facilitating the deployment of funds
Better identify opportunities for strategic partnerships with other market actors
Implement new funding programs more efficiently
Evaluate the community lending landscape in New York
Has this session been presented before?
No
Target Audiences Level of Expertise
Level 2 - Some prior knowledge helpful.
NYC 2023 Areas of Focus
Recommended Length
60-minute session
Strongest Content Connection - NYC 2023
Reviewer 1
McPike, Christina
Proposal #
171
Committee Decision
Rejected
Round 1: MaybeRound 1
Round 1: MaybeRound 1 Comments:- NY Green Bank spoke last year, and the session was generic, no details, and limited impact- Unclear what the case study is -- I think selecting this proposal should 100% depend on the case study (scale, size of funding, scope of work implemented with the funding) AND incoroprating a different perspective on the panel than NYGB