Environmental Financial Advisory Board (EFAB)

The Environmental Financial Advisory Board (EFAB) provides ideas and advice to EPA's Administrator and program offices on ways to lower the costs of and increase investments in environmental and public health protection.

EFAB's work focuses on:

Lowering the cost of environmental protection;
Removing financial and programmatic barriers that raise costs;
Increasing public and private contribution in environmental facilities and services; and
Building state and local financial ability to meet environmental laws.

EFAB's membership consists of:

officials from state and local governments;
leaders from the finance community and other business industries;
selected federal employees; and
members of environmental, tribal and non-governmental organizations.

Current List of EFAB Members (pdf) (148.07 KB)

On this page:

Upcoming EFAB Public Meetings and Webinars
Recent EFAB Public Meetings and Webinars
EFAB Workgroups
EFAB Charter and Guidance
EFAB Activity Summaries, Publications, and Reports

Upcoming EFAB Public Meetings and Webinars

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Recent EFAB Public Meetings and Webinars

November 2024 Webinar for EFAB’s Greenhouse Gas Reduction Fund Workgroup

EFAB held a public webinar on November 12, 2024. The purpose of the webinar was to explore strategies for mobilizing private capital in distributed energy generation projects to leverage the government's recent historic $27 billion Greenhouse Gas Reduction Fund (GGRF). The webinar featured a discussion on the conditions required to attract private capital into distributed generation projects and leveraging GGRF resources, including innovative financing models, risk mitigation strategies, and opportunities for scaling up investments. This webinar was the third in a three-part series that explores strategies for leveraging GGRF resources to attract private capital into GGRF priority sectors.

View the Meeting Materials

October 2024 Public EFAB Meeting

EFAB held a public meeting with webcast October 15 and 16, 2024. The purpose of the meeting was for the EFAB to discuss current advisory charges, provide updates on previous EFAB deliverables, and to learn more about the Administration’s infrastructure investment opportunities.

View the Meeting Materials

September 2024 Webinar for EFAB’s Greenhouse Gas Reduction Fund Workgroup

EFAB held a public webinar on September 19, 2024. The purpose of the webinar was to explore strategies for leveraging Greenhouse Gas Reduction Fund (GGRF) resources to attract private capital investment in zero emissions transportation projects, with particular focus on low-income and disadvantaged communities (LIDACs). Zero emissions transportation refers to modes of transport that do not produce any direct emissions of pollutants or greenhouse gases during operation. This includes a variety of technologies and approaches aimed at reducing the environmental impact of transportation.

During the webinar, invited financial experts discussed innovative financing models, risk mitigation strategies, and opportunities for scaling up investments in this sector. This webinar was the second in a three-part series that explores strategies for leveraging GGRF resources to attract private capital into GGRF priority sectors.

View the Meeting Materials

July 2024 Webinar for EFAB’s Greenhouse Gas Reduction Fund Workgroup

EFAB held a public webinar on July 30, 2024. The purpose of the webinar was for the EFAB to support the Greenhouse Gas Reduction Fund (GGRF) charge workgroup. This webinar addressed mobilizing private capital across a single GGRF priority sector, Net Zero Buildings, providing concrete examples of deals and transactions that have been successful.

View the Meeting Materials

Public Listening Session for EFAB’s Water Reuse Tax Incentive Workgroup

EFAB held a public listening session in May 2024 for its Water Reuse Tax Incentive Workgroup. The purpose of the listening session was for the EFAB to solicit public comment to inform its formulation of recommendations to the EPA on the public benefit of a potential Federal investment tax credit to support private investment in water reuse and recycling systems. An investment tax credit would focus on encouraging investment in equipment at privately owned industrial facilities to enable the use of municipally provided recycled water and/or enable onsite treatment and reuse of different sources of water within an industrial facility. The Board sought public comment on how a potential investment tax credit could be structured to achieve the maximum public benefit and minimize any externalities or unintended consequences, and how that structure may differ for industrial onsite reuse versus industrial use of treated recycled water.

View the Meeting Materials

April 2024 Public Meeting with Webcast

A public meeting of EFAB with webcast was held April 10-12, 2024. The purpose of the meeting was for the EFAB to discuss current advisory charges, provide updates on previous EFAB deliverables, and to learn more about the Administration’s infrastructure investment opportunities. The meeting was conducted in a hybrid format of in-person and virtual via webcast.

View the Meeting Materials

Public Listening Session for EFAB’s Water Affordability Workgroup

EFAB held a public listening session in February 2024 to solicit public comment on research, data, and case examples that demonstrate approaches to reduce the capital intensity of meeting communities’ water and wastewater service needs.

View the Meeting Materials

Past EFAB Meetings

EFAB Workgroups

Greenhouse Gas Reduction Fund Private Capital Mobilization

The Board accepted a charge from EPA’s Office of the Greenhouse Gas Reduction Fund (GGRF) on May 15, 2024. With this charge, the agency seeks the advice of the EFAB regarding GGRF’s execution and achievement of the third main program objective: mobilizing financing and private capital to stimulate additional deployment of greenhouse gas and air pollution reducing projects. The workgroup members are:

Stacy Brown
Lori Collins, Workgroup Co-chair
Zachary Davidson
Jeffrey Diehl, Workgroup Co-chair
Sonja Favors
Eric Hangen
Barry Hersh
Craig Hrinkevich
George Kelly
Joanne Landau
Lawrence Lujan
Sanjiv Sinha
Gwen Yamamoto Lau

EFAB Charge: Greenhouse Gas Reduction Fund Private Capital Mobilization (pdf) (122.27 KB)

Water Affordability

The Board accepted a charge from EPA’s Office of Water on October 25, 2023. With this charge, the agency looks to support communities in their affordability efforts and requests the Board to provide recommendations in ways EPA could accomplish this goal. The workgroup members are:

Courtney Black
Angela Montoya Bricmont
Matthew Brown
Albert Cho
Janet Clements, Workgroup Co-chair
Jeffrey Diehl
Phyllis Garcia
Cynthia Koehler, Workgroup Co-chair
Lawrence Lujan
MaryAnna Peavey
Dennis Randolph
David Wegner
Gwen Yamamoto Lau

EFAB Charge: Water Affordability (pdf) (141.01 KB)

Final Deliverable: Advancing Water Affordability Nationwide: A Framework for Action (January 2025) (pdf) (2 MB)

Investment Tax Incentive for Water Reuse Infrastructure

The Board accepted a charge from EPA’s Office of Water on October 25, 2023. The Bipartisan Infrastructure Law established the Water Reuse Interagency Working Group and the Consolidated Appropriations Act, 2023 then tasked the agency and working group with conducting “a study on the public benefit of a potential federal investment tax credit to support private investment in water reuse and recycling systems." The proposed charge asks the Board to conduct that study. The workgroup members are:

Angela Montoya Bricmont, Workgroup Chair
Albert Cho
Janet Clements
Jeffrey Diehl
George Kelly
Cynthia Koehler
Dennis Randolph
David Wegner

EFAB Charge: Investment Tax Incentive for Water Reuse Infrastructure - Statement (pdf) (144.3 KB)

Final Deliverable: Investment Tax Incentive for Water Reuse Infrastructure (pdf) (438.99 KB)