As practitioners and building owners “deconstruct” decarbonization, we find that it depends on the availability and rapid deployment of capital to support retrofits and new construction at a large scale. Moreover, the types of retrofits (including electrification, deep efficiency and onsite renewables) and new construction (including deep levels of "green"), are still unfamiliar to many building owners and lenders. Even if consultants, engineers and contractors know how to retrofit and build low-carbon buildings, and if the policy context creates necessary carrots and sticks, available financing represents a critical third leg of support for scaling up decarbonization. Lenders, housing agencies and capital sources - on which almost all multifamily buildings depend - must become fluid in the technology, language, process, and financial math of decarbonization to make it happen in the coming decades. There is no silver bullet to financing decarbonization. No single mortgage product, niche financing vehicle (e.g. PACE), or new incentive (even the IRA) can serve the entire market. Instead, the industry must evolve to include decarbonization in the types of normal loans and financial transactions through which the largest financial institutions deploy billions of dollars each year to support multifamily real estate. Recent years have seen significant innovation, including green mortgages deployed to thousands of properties nationally through GSE (Fannie and Freddie) green loans. Programs and incentives for passive house and deep retrofits have creating dozens or hundreds of successful projects, but often with un-scalable subsidies in states such as NY, MA, PA and CA. But with LL97 going into effect in 2024 (and similar laws in other cities) it is still not clear how the majority of buildings requiring significant upgrades will finance these investments in the near and medium term. This panel will convene a handful of folks working on the cutting edge of financing multifamily decarbonization. Panelists are currently working to stand up new loan and grant programs, update underwriting standards and process to drive low-carbon housing, and working to collect and surface the data needed to make decarbonization legible and understandable to financial institutions. Ideas and tools shared and debated will be informative to the audience, and may spark connections and new ideas needed to solve this industry-wide puzzle. Examples of current initiatives in which proposed speakers are involved/ playing leading roles include: HCR's Climate Friendly Homes Fund which is being deployed by CPC The HPD-NYSERDA Retrofit Electrification Pilot Future Housing Initiative, a new endeavor launched by Bright Power and Building Energy Exchange to help drive the transition to low-carbon, multifamily housing which includes building a dataset of low-carbon multifamily performance to support underwriting CPC VeriFi, a new tool for underwriting low-carbon multifamily developed in partnership with Bright Power Fannie Mae's development of an Electrification and Decarbonization Roadmap MassCEC's Passive House Design Challenge Building Energy Exchange collaborations creating and disseminating pathways and playbooks for multifamily decarbonization.