Spruce Root and the Coalition for Green Capital have joined forces to assist Alaska entrepreneurs in accessing federal funds from the Environmental Protection Agency’s Greenhouse Gas Reduction Fund. This partnership forms part of CGC’s nationwide network of community development nonprofits.
Sitka spruce trees flourish best on rocky sites near the coast where salt spray helps prevent stem rot. Old-growth forests of Sitka spruce can be found in Queets, Hoh, and other Olympic National Park river valleys in Washington and Pacific Rim and Carmanah Pacific Provincial Parks in British Columbia.
Spruce Root’s Strategic Partnership with the Coalition for Green Capital
Spruce Root, a non-profit community development financial institution founded by Sealaska Corporation, has joined forces with the Coalition for Green Capital to assist Alaska communities in accessing funding available through EPA’s Greenhouse Gas Reduction Fund. Through this collaboration, national green bank networks and local CDFIs will combine to make sustainable energy projects more accessible to communities throughout Alaska and beyond.
The Coalition for Green Capital is at the forefront of green bank movements worldwide. Their mission is to reduce greenhouse gases and other forms of air pollution, address climate and energy-related environmental injustice, and foster vibrant economies by investing locally in renewable and energy efficiency investments. They operate under an independent nonprofit status known as 501(c)(3).
Green spruces are hardy trees that thrive in cooler climates. Popular uses for this tree include decorating homes or as Christmas trees, paper and timber production, and dense foliage that makes for hardiness against disease and insects, drought, frost resistance, and frost tolerance. Cultivated for over 1000 years globally!
Recent surveys reveal that consumers prioritize affordability, transparency, and speed when closing on a home. To meet these demands, Spruce Root has developed innovative technologies to facilitate a faster real estate transaction process – such as title insurance coverage nationwide, closing and recording services through proprietary technology and central teams, and offering robust mortgage loan processes that meet industry best practices while still being tailored specifically for each market.
Despite these innovations, Spruce Root still faces challenges in the real estate industry. One is homeowners not having enough information about mortgage options to make informed decisions that can avoid expensive surprises down the line. Furthermore, lenders do not always disclose the fees they charge upfront.
Red Spruce Capital LLC increased its holding of Zscaler Inc (NASDAQ: ZS – Free Report) shares by 5.2% during the second quarter. Now, it comprises approximately 1.9% of its portfolio.
Spruce Root’s Strategic Partnership with the Alaska Green Bank
Spruce Root, a community development nonprofit serving Southeast Alaska, recently announced a partnership with the Coalition for Green Capital (CGC). This international network assists entrepreneurs in accessing funds from the Environmental Protection Agency’s Greenhouse Gas Reduction Fund and developing climate-warming emission-reducers. This alliance will benefit Alaska entrepreneurs by decreasing costs associated with sustainable infrastructure investments.
CGC is an innovative way to leverage federal funding for clean energy and climate resilience ventures. They aim to bring these projects to underserved communities that might otherwise go uncovered by traditional private capital sources. Spruce Root will be invaluable as it assists local communities in understanding and implementing grant processes and finding local partners capable of providing capital.
Black Spruce is a deciduous conifer species most frequently seen on wet lowlands and dry uplands in cold regions. It thrives in sandy loam soils, clay soils, permafrost, permeable permafrost areas, and sandy loam soils. It produces needle-like needles, typically green, but may range from light blue to nearly black in the shade; its seeds are stored within semi-serotinous cones that open and disperse upon maturity .
Fire’s ability to burn away organic soil layers influences postfire succession in black spruce ecosystems. Suppose organic layers remain undisturbed after fires have burned them off. In that case, the postfire line tends to favor long periods of graminoid or shrub dominance, while exposed mineral soil supports the growth of hardwood trees.
Spruce Root’s investment in the MLS Capital Fund II shows its dedication to developing a diverse global portfolio that addresses critical global challenges head-on. Through our partner Xeraya Capital, investments have been made in companies with technologies aimed at combatting climate change, food and water security concerns, population aging issues, and sustainability – a fascinating time to be an investor! As we expand our portfolio further, we remain dedicated to providing exceptional services for all investors.
Spruce Root’s Strategic Partnership with the EPA’s Greenhouse Gas Reduction Fund
Spruce Root’s success in supporting community development and environmental sustainability is unsurpassed, providing lending and technical assistance to Southeast Alaska communities, small businesses, and individuals through non-profit Community Development Enterprise (CDE) lenders as well as supporting initiatives that incorporate Indigenous knowledge of land stewardship values into community projects. Their partnership provides the Coalition an ideal opportunity to leverage federal funding for clean energy projects in local communities while furthering both groups’ respective missions to strengthen communities while decreasing pollution levels.
The Global Green Recovery Fund is a $27 billion investment to mobilize financing and private capital in response to climate change, maintain our country’s economic competitiveness, reduce energy costs, and bring economic revitalization to communities left behind. It will be implemented through three grant competitions: National Clean Investment Fund, Clean Communities Investment Accelerator, and Solar for All. EPA recently published draft implementation frameworks for these competitions.
This implementation framework ensures continued transparency and outlines vital parameters of the GGRF. It will act as a roadmap for stakeholder engagement leading up to each competition’s formal launch in June 2023. It is committed to rigorous transparency, risk management, and accountability measures when investing through this mechanism.
Red Spruce Capital LLC (“Red Spruce”) is an investment advisor registered with the Securities and Exchange Commission. Red Spruce offers customized advice in states where it has written and by state regulations. Any information provided herein should not be taken as investment advice, as investing can involve risks, including possible principal loss.
Spruce Root’s Strategic Partnership with the National Green Bank
Spruce Root Community Development Financial Institution provides programs and support services for Southeast Alaska communities and small businesses as they work toward building a regenerative economy. Their lending resources focus on Indigenous knowledge of land stewardship; additionally, they offer coaching to entrepreneurs seeking a sustainable business model.
Spruce Root’s strategic partnership with the Coalition for Green Capital allows them to leverage federal funding and increase community impact throughout Alaska. As part of a more significant effort to establish a national green bank that would give local entrepreneurs greater access to federal dollars while being better placed to address climate resilience challenges, this collaboration allows Spruce Root to maximize the impactful use of federal dollars for Alaska.
Sealaska Corporation provides support to entrepreneurs of rural and Native-owned companies in Alaska. Through this collaboration, the company’s first investment will be in partnership with them – this will provide loans that help offset diesel fuel’s high costs while simultaneously developing renewable energy projects that could decrease reliance on fossil fuels.
A national green bank will create an efficient channel for regional entrepreneurs to leverage billions in federal funds more effectively than through traditional grants administered by agencies like Agriculture or Commerce. The funds will then be invested in projects that improve climate resilience, reduce greenhouse gas emissions, and strengthen communities.
Spruce Root was honored to be selected as the official title partner for the Coalition’s application to the Environmental Protection Agency’s Greenhouse Gas Reduction Fund (GGRF), marking another step in our partnership that will assist regional community development organizations like Spruce Root in unlocking billions in public-private dollars.
Spruce Root’s partnership will enable it to implement sustainable economic and environmental projects with an Indigenous focus in Alaska, such as clean energy generation, water infrastructure developments, or initiatives that reduce fossil fuel dependence.
Zigg Capital led its latest fundraising round for this company, providing an investment that will allow it to expand its proptech solution offerings and scale operations. Their proprietary platform integrates title insurance, closing, escrow, and recording services that meet consumer expectations for affordability, transparency, and speed – an affordable model suitable for forward-thinking lenders, real estate investors, and proptech companies nationwide.