Biden to award $20 billion for green energy projects to counteract the so-called "climate crisis"

The Biden administration is pursuing policies related to what it calls the "climate crisis." The president will launch a new public funding competition valued at $20 billion to promote the production of green energy, that is, energy that does not produce any type of pollution or CO2 emissions when it is generated.

"The funding is part of the Environmental Protection Agency’s Greenhouse Gas Reduction Fund," intended "to combat the climate crisis by catalyzing public and private capital for projects that slash harmful climate pollution in communities across the country," the White House said in a press release published this Friday.

Specifically, these funds will be distributed through the National Clean Investment Fund (NCIF) and the Clean Communities Investment Accelerator (CCIA). Of the $20 billion, $14 billion will be used for grants "to support two-to-three national clean financing institutions" for green energy projects that they do in conjunction with private entities and the private sector. The remaining funds, $6 billion will be granted to "non-profit organizations."

This announcement by the Biden administration is one more step in its intense desire to transform the energy field and fight the "climate crisis." In the release, it argues that, with its agenda, it is "reducing energy costs for working families, strengthening America's energy security, creating hundreds of thousands of good-paying jobs, promoting environmental justice, and bolstering community-driven climate resilience across the country."