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 (GGRF) programs, the and the . 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 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:
For more information, please see on .
Work funded in part by NRDC, and done in collaboration with BEEx, IMT, Elevate and VEIC