WASHINGTON—The Biden administration today released its budget proposal for the 2022 fiscal year, which includes billions of dollars of funding for the Clean Energy Accelerator, one of the American Jobs Plan’s key climate provisions. Importantly, the White House believes 100% of the Accelerator funding should be appropriated right away in an upfront capitalization.
“The Accelerator is a bipartisan measure in the House, and enables targeting of public and private investment directed at disadvantaged communities, workforces, children afflicted by environmental harm, and consumers burdened by high costs of the existing energy platform,” said Reed Hundt, CEO of the Coalition for Green Capital.
In January, two independent reports by the Analysis Group and the Brattle Group found that a national Clean Energy Accelerator would have an outsized impact helping the United States recover from the economic effects of the COVID-19 pandemic and also speed up the country’s deep decarbonization and Environmental, Social and Corporate Governance (ESG) efforts.
About the Coalition for Green Capital
The Coalition for Green Capital (@CGreenCapital) is a non-profit with a mission to halt climate change by accelerating investment in clean energy technologies and by advocating for, creating and implementing green bank institutions. Green banks are a proven finance model that uses public and philanthropic funds to mobilize private investment in renewable energy, energy efficiency and other decarbonization technologies. For over a decade, the Coalition for Green Capital has led the Green Bank movement, working at the federal, state and local level in the U.S. and in countries around the world.