New Agriculture Finance Sustainability Coalition partners with multi-billion dollar awardee of the EPA’s National Clean Investment Fund

(Washington, D.C. – April 4^th, 2024) The Agriculture Finance Sustainability Coalition, a new partnership between agriculture, environmental groups and financial institutions, supported a significant awardee of the U.S. Environmental Protection Agency's $14-billion National Clean Investment Fund. Climate United secured $6.97 billion, which it will use to mobilize financing and private capital and accelerate market activity to combat the climate crisis.

The Agriculture Finance Sustainability Coalition includes members Akiptan, Compeer Financial, Couser Cattle Company, Environmental Defense Fund, Farmers Business Network, Farm Credit Council, Farmer Mac, Growers Edge, Intertribal Agriculture Council, National Council of Farmer Cooperatives, National Milk Producers Federation, Native Agriculture Financial Services and Soil and Water Outcomes Fund.

Farmers and ranchers consistently cite financial barriers as an impediment to their adoption of climate-smart agriculture practices and technologies. Together, the members of the coalition are collaborating to identify climate-smart agriculture projects that meet the qualified project criteria of the National Clean Investment Fund, and agricultural finance institutions that are positioned to deploy financial solutions to farmers across the country.

“Farmers and ranchers are essential allies in generating climate solutions, but they need the right kind of financial support to do so,” says Maggie Monast, senior director for climate-smart agriculture at Environmental Defense Fund. “Funding from the National Clean Investment Fund will de-risk and catalyze replicable, scalable and equitable financial solutions that accelerate climate-smart agriculture implementation. The EPA’s announcement is a major step forward and will generate benefits for farms, ranches and rural communities across the nation.”

Agricultural climate solutions that may be financed through this opportunity include renewable energy technologies, farm energy efficiency upgrades, technologies to capture or reduce livestock methane emissions, farming practices that reduce nitrous oxide emissions from fertilizer use on crops, and more.

The National Clean Investment Fund places a strong emphasis on equity, and reaching communities that face challenges in accessing mainstream sources of capital. The coalition will use this funding opportunity to assist farmers and ranchers who face barriers in accessing capital and support them in expanding access to essential financial services. For example, Akiptan is a Native American Community Development Financial Institution that provides loans and technical assistance to those in Native Agriculture.

“Akiptan's mission is to transform Native agriculture and food economies by delivering creative capital, leading paradigm changes, and enhancing producer prosperity across Indian Country. We support producers holistically with flexible, long-term capital and the technical assistance they need to succeed. The partnerships we will develop with farmers and ranchers as part of the National Clean Investment Fund will allow Akiptan to expand our patient approach to capital with the producers we serve, enabling them to grow their businesses and thrive,” says Skya Ducheneaux, executive director at Akiptan.

Several members of the coalition are prepared to deploy financial solutions to farmers, which will leverage private capital and enable farmers to access the flexible financing they need to adopt climate-smart agriculture practices and technologies.

“Farmers are already operating on thin margins, and access to appropriate financing is essential for them to navigate the pressures of the future – including climate change. The flexible capital offered through the National Clean Investment Fund offers an opportunity for Farm Credit cooperatives to tailor their financing to the needs of their farmer member-owners who are leading the way in implementing climate solutions. Our collaboration in the Coalition is a natural outgrowth of Farm Credit’s mission to support rural communities and agriculture with reliable, consistent credit and financial services, today and tomorrow,” mentions Todd Van Hoose, president of Farm Credit Council.