Memo: Opportunities for Climate-Related State Investments

December 20, 2021

Two pieces of federal legislation, the Infrastructure Investment and Jobs Act (IIJA) and the Build Back Better Act (BBBA), could provide combined funding of more than $400 billion for climate-related investments, including roughly $260 billion that could be directly managed by state governments and used to accomplish a broad array of climate goals. This memorandum provides an overview of funding available to states in IIJA, and potentially available in BBBA, for climate-related investments — including formula funding and competitive grants for climate change mitigation and adaptation, natural and working lands resiliency, low-carbon infrastructure, clean energy deployment, and environmental justice — along with key considerations for states that wish to take full advantage of this historic opportunity.



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