Foundation News

Over the past two decades, the U.S. has seen significant investments into clean and renewable energy technology and infrastructure. However, many of these investments have excluded those most at risk for the negative impacts of climate change, including low-income households, communities of color, rural and Indigenous communities, and small businesses.

To help direct investments in ways that benefit those communities on the front lines of climate change, Sierra Club Foundation’s Catalytic Capital Fund (an investment portfolio carve-out for impact investing) provides catalytic capital for projects and funds that advance climate solutions, social equity, and justice. Sierra Club Foundation recently closed an investment of $1.5M in Inclusive Prosperity Capital (IPC), a nonprofit financial intermediary that provides access to clean energy finance for underserved communities. Since its start in 2018, IPC has mobilized over $30 million into clean energy projects and currently has over $100 million of projects in its pipeline. IPC partners with mission-aligned and established solar and renewable energy operators looking for debt or equity capital into “shovel-ready” projects across the commercial, residential, and nonprofit sectors. Its customers include affordable housing portfolio owners, affordable housing coalitions and nonprofits, as well as state agencies and municipalities looking to deploy clean energy projects in their communities.

IPC’s vision is to allow everyone to have access to the benefits of clean energy. They strive for change in underserved communities to achieve inclusive prosperity. Sierra Club Foundation’s investment in IPC helps them to provide access to clean energy in these communities while also realizing significant savings on their energy costs.