Story thread · 4 reports / 3 sources

A Second Act for Biden’s Green Banks?

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One of the Biden administration’s most interesting — and contentious — climate programs might get a second lease on life. Earlier this week, the D.C. Circuit Court of Appeals ruled that the Trump administration could not end the $20 billion Greenhouse Gas Reduction Fund program, which would have capitalized several national green banks. The court also ruled that the Environmental Protection Agency needed to give the nonprofits access to the funds while the case proceeded. That would amount to a victory — if it holds. But the ball is now in the EPA’s court. If the agency appeals the ruling in the next week, then the case will go to the Supreme Court, setting up what could be a major battle over the program, according to The New York Times. My colleague Emily Pontecorvo wrote about the background to the case last year, when the nonprofits looked more likely to lose: Congress created the grants, known as the Greenhouse Gas Reduction Fund, as part of the Inflation Reduction Act in 2022. It

First report: Appeals court blocks Trump from rescinding green bank funds — thehill.com, 7d