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Revolutionizing green financing in the Midwest

21 February 2024, 19:28 UTC 2 min read

Gillian Ertel, Program Manager, Governments and Policy, North America

Unlocking the Midwest's potential 

The Midwest, often overshadowed in discussions about the United States' environmental future, holds immense promise in our collective pursuit of sustainable development. Traditionally known for its manufacturing and agricultural sectors, this region is ripe for a transformation towards net zero. However, to catalyze this shift effectively, it's imperative that innovative green financing initiatives are prioritized. 

Catalyzing change through financial innovation 

The Inflation Reduction Act and the Infrastructure Investment and Jobs Act offer avenues for bolstering growth in crucial sectors such as renewable energy, energy efficiency, and clean technologies. Projects like the Green Recovery Alliance, a partnership between Climate Group and The Center for Climate Strategies, and Midwest Best Practices, underscore the commitment towards this transition. We're actively supporting the Midwest subnational governments in the acquisition of federal funds to address any barriers and to catalyze change. 

Harnessing abundant resources 

The Midwest boasts abundant renewable energy sources—wind, solar, and biomass—awaiting harnessing to significantly curb carbon emissions. Through innovative green financing mechanisms, we can spearhead the development of resilient infrastructure projects like wind farms and solar installations, unlocking the region's potential to emerge as a hub for clean energy production. 

energy efficiency

Prioritizing climate resilience 

As climate change escalates its impact across the nation, prioritizing climate resilience becomes paramount, even in the heartland. Green financing plays a pivotal role in supporting projects that bolster the resilience of agriculture and infrastructure against climate-related adversities. Moreover, it is imperative to prioritize environmental justice, ensuring that Indigenous communities receive the necessary funding to fortify their resilience while honoring their deep connection to the land. 

The US Climate Action Summit: A catalyst for change 

The upcoming US Climate Action Summit in April presents a pivotal opportunity for Midwest leaders to spearhead the creation of a robust green economy. This event not only serves as an educational platform but also showcases the region's strides towards sustainability. By fostering collaboration between public and private entities, we can amplify opportunities, elevating our collective commitment to transitioning to net zero. 

Towards a global paradigm shift 

By leveraging the resources and platforms provided by initiatives like the US Climate Action Summit, we’re able to go beyond bringing green funding to the Midwest; we can actively integrate the region into the global drive towards net zero emissions. Recognizing that genuine environmental progress necessitates the inclusion of every region, we afford the Midwest its moment to shine in the fight against climate change.