Driving Investments Toward Clean Water Infrastructure

CGC operates at the edge of the market, where private investment and public funding often can’t reach. Through this approach, CGC fills critical financing gaps, reduces risk, and builds market confidence so private capital can eventually take the lead.  

This is exactly what CGC did with clean water infrastructure. To demonstrate market viability and pave the way for private investment to scale clean water projects in critically impacted areas, CGC is using is nationwide network to incubate the market.

Using Philanthropic Capital to Jump-Start the Market

In 2023, with support from the Robert Wood Johnson Foundation (RWJF), CGC launched a cohort of seven green banks to build pipelines of investable water infrastructure projects. Building on this success, six additional green banks joined the cohort in 2025, expanding the strategy's reach and magnifying its impact nationwide. Each green bank in the cohort received a $50,000 grant to support the technical assistance and organizational capacity required to build these pipelines for a total of $600,000 of green bank grant support from RWJF.  

Examples of clean water investments include green stormwater infrastructure, surface water protection, energy and water conservation, and other projects that improve the sustainability and reliability of local water systems.

• Modernize outdated systems and enhance efficiency
• Improve climate resilience and reduce emissions
• Protect public health through clean, reliable water
• Support local prosperity and economic growth

Some initial successes from CGC’s water cohorts include:

• Hawai‘i Green Infrastructure Authority (HGIA): HGIA and partners brought together on-site water reuse technology companies, local developers, designers, engineers, builders, academics, and government officials for a 3-hour workshop and dialogue around the opportunities to expand on-site water reuse in Hawaii. This event successfully raised awareness and familiarity around these technologies and collectively explored new financing tools through HGIA to maximize statewide economic and environmental benefits of these systems. ‍
• Solar Energy Loan Fund (SELF): SELF is launching a program will enable local governments in Florida to accelerate private sewer lateral line upgrades and lead pipe replacement by providing accessible financing to homeowners in high-impact areas. Benefits will include improved water quality; reduced stormwater treatment volumes, costs, and emissions (through reduced inflow and infiltration via leaky private laterals); reduced wastewater system maintenance costs; and increased asset lifetimes. This product builds on SELF’s existing septic-to-sewer conversion loan program and government partnerships to provide rebates to homeowners in underserved markets to advance equitable water financing. ‍
• Montgomery County Green Bank: The Montgomery County Green Bank is finalizing cost effective financing product options that will allow nonprofit affordable housing developers to invest in building sustainability, including renewable energy, water and energy efficiency, and resilience. In addition to improving the quality of life for residents, investments will result in capital and operating cost savings through direct utility savings or through avoided costs for property owners, such as flood repairs and cleanup. ‍
• Groundswell Capital: Groundswell Capital is launching the Resilience Impact Fund, the first climate-focused pooled bond fund to adapt traditional financial instruments for climate adaptation, setting a precedent for other regions and green banks. This Fund will help close the financing gap for underserved markets, leverage private investment, and partner with local governments, nonprofits, and community stakeholders to pool resources, share risks, and drive regional climate solutions.

Driving the Next Wave of Clean Water Investment

CGC’s work to strengthen clean water infrastructure is only the beginning. After demonstrating progress through its pilot program, CGC plans to expand this model nationwide—by working with philanthropies to kickstart market interest, continuing to close financing gaps, and build market momentum for water investments.  

This work is more critical now than ever. As data centers multiply across the country, demand for reliable water supply is soaring, while much of America’s water infrastructure remains outdated and under strain. Expanding CGC’s approach will help ensure that both communities and industries have the resilient water systems they need for the future