SUSTAINABILITY UPDATE

Wells Fargo Awards HP Sustainability Solutions Two Grants Totaling $750,000

HP Sustainability Solutions, a leader in designing energy efficiency and renewable energy programs to serve disadvantaged communities, has been awarded two grants by Wells Fargo totaling approximately $750,000.

HP Sustainability Solutions was founded in 2020 by the Housing Partnership to work with developers and owners of affordable residential properties, architects, engineers and government agencies to develop and implement strategies and initiatives for improving clean energy adoption and building performance while reducing carbon emissions.

HP Sustainability Solutions received a grant of $481,000 from Wells Fargo to create a Green Bank for the state of California in partnership with LeSar Development. “This grant allows us to assess the landscape of sustainable financing in California and identify successful sustainable finance entities in other states, in addition to determining California Green Bank opportunities,” said Esther Toporovsky, President of HP Sustainability Solutions and Executive Vice President of the Housing Partnership.

A second Wells Fargo grant of $310,275 enables HP Sustainability Solutions to create a Carbon Offset Fund for Affordable Housing. “This grant will give us the opportunity to research the structuring of a carbon offset market for multifamily affordable housing in three key markets–New York, California and Washington, DC, with the goal of creating a new funding stream for investment in carbon reduction and lowering the cost burden of carbon mitigation in low-income communities,” said Ms. Toporovsky.

“Our team at HP Sustainability Solutions is uniquely positioned to analyze energy, carbon reduction and the financing needed to design effective environmental programs for low income communities,” said Dan Martin, President and CEO of the Housing Partnership.

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