2024 FIR Summary

Now in its 26th year, the Financial Innovations Roundtable (FIR), located at the Carsey School of Public Policy at the University of New Hampshire, has worked to address problems related to access to capital for low- and moderate-income consumers and communities. The FIR works with a range of financial institutions, government agencies, foundations, and trade associations to access their expertise for problem-solving discussions. This year’s FIR (June 3–4, 2024) was hosted again by the Federal Reserve Bank of New York and explored opportunities for collaborative infrastructure for equitable climate finance in the context of the Greenhouse Gas Reduction Fund (GGRF). The FIR agenda was inspired by an earlier convening (April 26, 2024) in Washington, D.C., with many of the same stakeholders, shortly after the U.S. Environmental Protection Agency announced selectees of its Clean Communities Investment Accelerator (CCIA) and National Clean Investment Fund (NCIF) awards.

The Greenhouse Gas Reduction Fund, the full Inflation Reduction Act, other unprecedented Federal legislation, and growing regional and local initiatives are creating the perfect storm—a once-in-a- generation opportunity to transform communities and ignite progress and prosperity, with a particular focus on low-income and disadvantaged communities. This Financial Innovations Roundtable brought together GGRF awardees, sub awardees, and partners, as well as experienced practitioners, thought leaders, and investors from across the ecosystem needed for efficient and effective implementation. With a primary focus on the cross-cutting topics of capacity-building and market-building, participants discussed collaboration opportunities across the ecosystem.

The FIR was structured in two tracks, each addressing a key element of building a pathway—building a market and building the capacity of the field to serve that market. The event had 111 participants from a variety of sectors including community financial institutions, government agencies, philanthropic organizations, banks, technical assistance providers, and other organizations supporting clean energy and decarbonization in low-income and disadvantaged communities (LIDAC). All eight CCIA and NCIF selectees were represented.