The National Climate Bank Act released last week in the House by Rep. Debbie Dingell of Michigan is a landmark event for the green bank movement, showing broad momentum and support. News publications spoke with CGC Executive Director Jeff Schub for context and perspective on the new bill.
Smart Cities Dive focused on green banks at the city level, and the ways that a National Climate Bank could provide capital to help these institutions even better serve their communities. From Smart Cities Dive:
The smaller banks can help target investment in certain communities that need it, but the national bank would help mobilize investment on the necessary scale — and faster than the private sector could, CGC Executive Director Jeffrey Schub told Smart Cities Dive.
Utility Dive took a national perspective on the prospects of the legislation and explored how the National Climate Bank could directly finance projects as well as helping to capitalize state-level green banks like Michigan Saves. From Utility Dive:
Without a national bank commitment, green banks are limited from financing available innovations in emerging clean energy markets, like transportation electrification, Schub said. Local green banks could help finance charging infrastructure buildout and EV leasing in underserved communities, as well as battery swap structures and other “necessary” financial innovations on the transportation side, he said.
Check out both stories for important perspective on the National Climate Bank Act.