Center for Environmental Finance (CEF)

The Environmental Financial Advisory Board (EFAB) provides advice to the Environmental Protection Agency's Administrator and Program Offices on "how to pay" questions for environmental protection.

History and Background

The Environmental Financial Advisory Board (EFAB) was chartered in 1989 under the Federal Advisory Committee Act (FACA). It was established to provide advice and analysis to EPA's Administrator on paying for the growing costs of environmental protection and how to increase investment in environmental infrastructure through the leveraging of public and private resources. EFAB provides EPA with a cross-media, intergovernmental perspective on environmental finance that integrates environmental and economic goals, while emphasizing cost-effective, risk-based approaches and public-private partnerships. The Board has made significant contributions to EPA's efforts to address the critical environmental financing challenges of the 21st Century.

EFAB's membership includes prominent experts from all levels of government, including elected officials; the finance and banking communities; business and industry; and national organizations. Board members meet semi-annually; the meetings are open to the public and are announced in the Federal Register. The Board has also produced a number of advisories on important environmental financing issues.

The Environmental Financial Advisory Board has adopted three environmental financing goals:

• Lower the costs of environmental protection by removing financial and programmatic barriers that raise costs and by improving the efficiency of investments needed to close the gap between limited resources and increasing mandates;
• Increase public and private investment in environmental facilities and services as a spur to sustainable development, job creation, productivity, and tax revenues; and
• Build state and local financial capacity necessary to carry out environmental mandates so that gains made to date are secured and further environmental progress can be made.

EFAB serves a unique role, assisting the EPA in providing a credible and significant response to the increasing concerns over how to pay for federal and state environmental mandates. EFAB's expertise and advice focus on cross-media financing, particularly on the "how to pay" issue of environmental mandates. This is of critical importance as the nation has invested billions of dollars in environmental facilities and programs over the last thirty years. While progress has been made, this work is far from complete.

Purpose

Environmental legislation reauthorized or enacted by Congress in recent years has placed significant additional resource requirements on all levels of government, increasing their infrastructure and administrative costs. At the same time, limited budgets and changes in Federal tax laws have constrained traditional sources of capital. Growing needs and expectations for environmental protection, as well as increasing demands in all municipal service areas, make it increasingly difficult for governments to find the resources to meet their needs.

The Environmental Financial Advisory Board operates under the Federal Advisory Committee Act, 5 U.S.C. App.2 [sec.] 9(c). The purpose of the Environmental Financial Advisory Board is to provide authoritative analysis and advice to the EPA Administrator on finance issues to assist the Agency in carrying out its environmental mandates.

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EFAB Strategic Action Agenda:

• Fiscal Years 2009-2010 (PDF)(5 pp, 159K)
• Fiscal Years 2008-2009 (PDF)(5 pp, 106K)
• Fiscal Years 2007-2008 (PDF)(6 pp, 49K)
• Fiscal Years 2005-2006 (PDF)(4 pp, 26K)
• Fiscal Years 2004-2005 (PDF)(5 pp, 163K)
• Fiscal Years 2003-2004 (PDF)(7 pp, 30K)
• Fiscal Years 2002-2003 (PDF)(9 pp, 28K)
• Fiscal Years 2001-2002 (PDF)(10 pp, 28K)
• Fiscal Years 2000-2001
• Fiscal Years 1999-2000

Download the EFAB Brochure