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Montgomery County Council highlights $5 billion federal clean-investment award to Coalition for Green Capital
Summary
Councilmember Natalie Fanny Gonzales presented a proclamation recognizing the Coalition for Green Capital after the EPA selected it for a $5,000,000,000 National Clean Investment Fund award; Montgomery County Green Bank and state partners will focus investments on decarbonization, clean energy and electric-vehicle adoption with priority for low-income and disadvantaged communities.
Councilmember Natalie Fanny Gonzales presented a proclamation Sept. 24 recognizing the Coalition for Green Capital after the U.S. Environmental Protection Agency selected it to receive $5,000,000,000 through the National Clean Investment Fund competition.
"The U.S. Environmental Protection Agency has announced the award of $5,000,000,000 from the National Clean Investment Fund to the coalition for green capital under the greenhouse reduction fund competition," Gonzales said, noting Montgomery County Green Bank and state partners will help deploy the funds.
Stephen Morell, chief executive officer of the Montgomery County Green Bank, joined county and coalition representatives in the chamber, saying the award will bring federal funding "to Montgomery County and Maryland broadly." Bonnie Norman, former board chair of the Montgomery County Green Bank, noted the Green Bank has grown its project investment roughly 100-fold during her tenure and that a majority of funds this year are targeted to disadvantaged communities.
The proclamation called out three priorities for the coalition's work: building decarbonization to reduce emissions in the built environment, distributing clean energy, and electric-vehicle adoption. The proclamation also said at least 50% of investment will be targeted to low-income and disadvantaged communities and noted Montgomery County Green Bank, the Maryland Clean Energy Center and the Climate Access Fund as local partners.
The council presented the proclamation and invited coalition and bank staff to the dais for photographs.
The proclamation is ceremonial; it does not direct county spending or impose new requirements on county agencies. Additional details about how the federal award will be allocated and local program design were not specified in the council remarks and will be determined by the coalition and partners.
