The Climate United Fund (Climate United) is a coalition of three left-of-center nonprofit finance institutions, Calvert Impact Capital, the Community Preservation Corporation, and the Self-Help Credit Union, that were awarded $6.97 billion from the Biden administration’s U.S. Environmental Protection Agency‘s National Clean Investment Fund (NCIF).  ^{1 2}

The coalition seeks to deliver so-called “green technologies” across the United States and has more than 350 partners. ³ It has supported Biden administration priorities, ⁴ American transition to weather-dependent energy sources, and the far-left Justice40 program. ¹

History and Leadership

The Climate United Fund was formed in 2024 when investment firm Calvert Impact Capital decided to partner with Community Preservation Corporation and Self-Help to create Climate United. ⁵

Beth Bafford is the chief executive officer of Climate United. ⁶ She is also the vice president of strategy for Calvert Impact Capital, the lead member of Climate United. Stafford previously worked at McKinsey and Company, as a special assistant in the Obama administration’s Office of Management and Budget, and as a regional field director for Obama for America. ⁷

Climate United’s board of directors oversees the consortium’s strategy and implementation of the Biden administration’s National Clean Investment Fund awards. ⁸ Climate United’s board members include former Democratic Party of California chairman and California State Treasurer Phil Angelides, ^{9 8} Obama administration Secretary of the Department of Transportation Anthony Foxx, United Farm Workers of America co-founder Dolores Huerta, Patrice Willoughby of the Congressional Black Caucus, ¹⁰ and others with ties to the First People’s Fund, CPC, Opportunity Finance Network, and NAACP. ⁴

Activities and Funding

The Climate United Fund (Climate United) is a partnership of three nonprofit finance institutions: Calvert Impact Capital, the Community Preservation Corporation, and Self-Help Credit Union. ^{1 2} Climate United has supported Biden administration priorities, including the Inflation Reduction Act, ⁴ works in line with the far-left Justice40 program, and supports the far-left concept of equity. ¹ Its national strategy focuses on a transition to weather-dependent energy, decarbonization, and electric vehicles. ¹¹

Climate United has more than 350 implementation, deployment, and community partners including so-called “green banks,” credit unions, minority depository institutions (MDIs), community development financial institutions (CDFIs), far-left environmental justice organizations, organized labor, and others. Its partners have deployed more than $30 billion in sectors in all 50 states; deployed more than $5.2 billion in loans across 42,000 distractions since 2020; and deployed more than 60 percent of lending for people living in “Justice 40” communities. ¹¹

Climate United’s investment strategy supports Biden administration’s environmentalist policy goals and “decarbonization” of buildings at scale. ^{12 11}

In 2024, Climate United was awarded $6.97 billion from the U.S. Environmental Protection Agency’s National Clean Investment Fund (NCIF) after applying for $14 billion from NCIF, which attempts to deliver so-called “green” technologies to various regions across the United States. Climate United was one of three organizations selected to manage funds as a part of the Biden administration’s $27 billion Greenhouse Gas Reduction Fund. ^{2 3} Climate United will use the Biden administration’s White House Council on Environmental Quality’s Climate and Economic Justice Screening Tool and the Environmental Justice Screening and Mapping Tool to administer this grant. ¹³

The organization will focus at least 60 percent of its investments as a part of this program in low-income and minority communities, 20 percent in rural communities, and 10 percent on Native American tribal communities. ¹⁴ Climate United collaborators, including Opportunity Finance Network, Inclusiv, the Native CDFI Network, Appalachian Community Capital, and the Justice Climate Fund also received funding from the related Clean Communities Investment Accelerator. ¹⁵

Climate United is partnered with Navajo Power, Re-volv, and SunWealth. ¹⁶

1. “Unlocking Climate Solutions Across America.” Calvert Impact. Accessed June 26, 2024. https://calvertimpact.org/investing/climate-united.
2. Chemnick, Jean. “Here’s who wants to run the country’s $14B ‘green bank’.” E&E News by Politico. November 6, 2023. https://www.eenews.net/articles/heres-who-wants-to-run-the-countrys-14b-green-bank/.
3. Tigue, Kristoffer. “White House Awards $20 Billion to Nation’s First ‘Green Bank’ Network.” Inside Climate News. April 4, 0224. Accessed June 26, 2024. https://insideclimatenews.org/news/04042024/biden-administration-green-bank-network-disadvantaged-communities/.
4. “Climate United Announces Inaugural Board of Directors.” Calvert Impact. October 27, 2023. Accessed June 26, 2024. https://calvertimpact.org/resources/climate-united-announces-inaugural-board-of-directors.
5. Garden, Leah. “How to access $6.97 billion from the EPA’s green bank.” GreenBiz. April 26, 2024. Accessed June 30, 2024. https://www.greenbiz.com/article/how-access-697-billion-epas-green-bank.
6. Beth Bafford.” Calvert Impact. Accessed June 26, 2024. https://calvertimpact.org/about/team/beth-bafford.
7. “Beth Bafford.” LinkedIn Profile. Accessed June 26, 2024. https://www.linkedin.com/in/bethbafford/.
8. “Bour Board of Directors.” Climate United. Accessed June 26, 2024. https://weareclimateunited.org/our-people
9. “Phil Angelides.” Climate United. Accessed June 26, 2024. https://weareclimateunited.org/team/phil-angelides.
10. “Climate United Awarded $6.97 Billion Grant From National Clean Investment Fund.” Climate United. April 4, 2024. Accessed June 28, 2024. https://weareclimateunited.org/news/climate-united-award.
11. “About Us.” Climate United. Accessed June 28, 2024. https://weareclimateunited.org/about-climate-united.
12. “Home.” Climate United. Accessed June 28, 2024. https://weareclimateunited.org/.
13.  “Justice40 Communities.” Climate United. Accessed June 28, 2024. https://assets.ctfassets.net/urgx2rpiyypc/6jYuydPynFAHxN69AvEES1/a620ff4917fc99d03f3e5a97c4f5b8cd/J40_Strategy__1_.pdf.
14. “Biden-Harris Administration Announces Historic $20 Billion in Awards to Expand Access to Clean Energy and Climate Solutions and Lower Energy Costs for Communities Across the Nation. “April 4, 2024. Accessed June 30, 2024. https://www.whitehouse.gov/briefing-room/statements-releases/2024/04/04/biden-harris-administration-announces-historic-20-billion-in-awards-to-expand-access-to-clean-energy-and-climate-solutions-and-lower-energy-costs-for-communities-across-the-nation/.
15. “Climate United Awarded $6.97 Billion Grant From National Clean Investment Fund.” April 4, 2024. Accessed June 28, 2024. https://weareclimateunited.org/news/climate-united-award.
16. “Work With Us.” Climate United. Accessed June 28, 2024. https://weareclimateunited.org/work-with-us.