Democratic Bill Would Launch $50b National Green Bank
“Democratic Rep. Chris Van Hollen unveiled legislation yesterday that would set aside up to $50 billion for a national green bank, buffing his environmental credentials in the race for Maryland’s open Senate seat.
Van Hollen’s H.R. 5802, the “United States Green Bank Act of 2016,” would provide loans, loan guarantees and risk management to developers of clean energy and energy efficiency projects and leave discretion for project selection and management with local green banks.
The Coalition for Green Capital, Natural Resources Defense Council and Connecticut Green Bank are backing the bill.” (http://bit.ly/2aez77B)
Obama Administration Announces Clean Energy Savings for All Initiative
“Through the Clean Energy Savings for All Initiative, the Administration will work to ensure that every household has options to choose to go solar and put in place additional measures to promote energy efficiency. To continue along this track, the Administration, in collaboration with state agencies, is announcing a new catalytic goal to bring 1 gigawatt (GW) of solar to low- and moderate- income families by 2020.” (http://bit.ly/2a8fgK9)
FHA To Begin Insuring Mortgage Loans with PACE Financing
“The Federal Housing Administration will soon begin insuring mortgages that also carry liens created by energy retrofit programs, as long as the energy lien remains subordinate to the mortgage, the Department of Housing and Urban Development announced Tuesday.” (http://bit.ly/29O6zDK)
Victoria Becomes First Australian Government to Tap Green Bond Market
“Victoria’s state Labor government has become the first government in Australia to issue its own green bonds, with the launch of a triple-A rated $300 million issuance to finance a range of new and existing low-carbon projects.
The Victorian Green Bonds, issued by the Treasury Corporation of Victoria (TCV) on Monday and fully subscribed in just over 24 hours, are also the first state or federal government-issued bonds anywhere in the world to receive international Climate Bond Certification.” (http://bit.ly/2axn3gv)
Lack of Small-scale ‘Bankability’ Harming Clean Energy Progress, Finds IIED White Paper
“Traditional forms of climate financing are unsuitable for the transition required to ensure clean, low-cost and low-carbon energy access for all, argues a new white paper published by the International Institute for Environment and Development (IIED). The report’s chief argument is that, while investing in projects such as large-scale wind farms offers an undeniably more attractive guarantee of profits, a lack of similar funds for more decentralized, small-scale projects undermines clean energy progress globally.” (http://bit.ly/2afQwOo)