Ecotrust and Broadstreet Launch New Partnership in Support of Climate and Community Development Financing
Partners will offer comprehensive, customized impact measurement, reporting, and evaluation services to awardees of the landmark $27B Greenhouse Gas Reduction Fund
PORTLAND, Ore.–(BUSINESS WIRE)–Together with Broadstreet Impact Services, Ecotrust is pleased to announce a new collaborative effort aimed at ensuring the historic $27 billion Greenhouse Gas Reduction Fund (GGRF) achieves its promise to tackle the climate crisis and effectively mobilize capital toward projects advancing climate justice in historically underinvested communities.
Through the newly formed Broadstreet Ecotrust Consulting Collaborative, the two organizations will support awardees and subawardees of the GGRF with impact measurement system design and implementation, reporting, and evaluation services. A comprehensive list of services can be found here.
“I am excited to leverage the respective strengths of these two organizations for the strategic goal of centering justice while deploying proceeds from the Greenhouse Gas Reduction Fund,” said Olivia M. Rebanal, Chief Impact Officer of Ecotrust. “The expertise of our two organizations combined has the opportunity to accelerate systems-level change.”
The Inflation Reduction Act authorized the EPA to implement the $27 billion GGRF to mobilize financing and private capital to combat the climate crisis, ensure American economic competitiveness, and deliver lower energy costs and economic revitalization to underinvested communities. Recently the EPA announced awards for two competitive pools of funding: the $14 billion National Clean Investment Fund, the $6 billion Clean Communities Investment Accelerator. Additional funding for clean energy projects has also been made available through the $7 billion Solar for All competition.
Through the new Collaborative, organizations that are awarded a portion of these federal funds can take advantage of comprehensive and highly customizable measurement, reporting, and evaluation services and tools that help awardees and their partners source and diligence impactful projects, monitor and evaluate impact performance, and achieve the goals and rigorous requirements of the GGRF.
Based on their decades of experience — including more than $2 billion in investments to promote social, economic and environmental progress in overlooked communities — Ecotrust and Broadstreet are able to share a powerful combination of skills in navigating complex federal programs, equitable impact measurement and evaluation, climate-justice investing, community development investing, and more.
“We are delighted to collaborate with Ecotrust to empower GGRF awardees in their efforts to decarbonize the American economy and deliver measurable benefits to underserved communities,” said Kevin Boes, CEO of Broadstreet. “By connecting our expertise in fund services and impact management to Ecotrust’s profound understanding of climate justice and evaluative strategies, we can boost the capacity of GGRF awardees to positively impact families, communities and the well-being of the planet as well.”
About Ecotrust
Ecotrust creates and accelerates triple-bottom-line innovations to benefit our region and inspire the world. Our work is rooted in the region from California to Alaska that holds productive lands and determined people. On the farm, at the coast, in the forest, and across our cities, we work in partnership towards an equitable, prosperous, climate-smart future. We recognize the legacy of colonialism and the deep inequities of this place, and we believe that radical, practical change is possible and necessary. Since 1991, we have created durable change and sparked ideas across the globe. Join us at ecotrust.org.
About Broadstreet Impact Services
Broadstreet is an impact financial services company, offering both fund management and fund administration services. We work with innovative investors to fuel social and economic impact throughout the country. We manage or administer 36 multi-asset funds, 92 single-asset entities, and $2.0 billion of capital—all of which drive equity and opportunity alongside financial performance. Over 20 years, we have developed a client base that values our customizable services platform, fund development experience, impact focus, collaborative partnership approach, and deep engagement with the community investing ecosystem. Join us at broadstreetimpact.com.
Contacts
Ariel Hargrave (ahargrave@broadstreetimpact.com)
Megan Foucht (mfoucht@ecotrust.org)
