CGC in the News: Jeff Schub discusses the National Climate Bank in ENN

A new story by Lisa Prevost at Energy News Network provides an excellent overview of the opportunity for a National Climate Bank to accelerate the clean energy transition. The proposal is informed by the successful track record of existing green banks at the state and local level, including in Connecticut and New York.

CGC Executive Director Jeffrey Schub describes the model proven by existing green banks, as well as the urgency of mobilizing far greater clean energy investment:

“There’s a need to put our foot on the gas.”

CGC analysis has found that a National Climate Bank capitalized with $35 billion in federal funds could leverage as much as a trillion dollars in total investment over 30 years. Addressing the climate crisis will require transforming the energy sector and the nation’s infrastructure on precisely this large scale, and the Climate Bank would be empowered to invest across sectors in order to maximize its impact.

Check out the full story at Energy News Network. And, for even more on the proposed National Climate Bank and the achievements of existing Green Banks in the US, see the Annual Industry Report of the American Green Bank Consortium, the National Climate Bank micro-site, and the full analysis “Mobilizing $1 Trillion towards Climate Action.”

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