CGC In the News: Jeff Schub Discusses Green Banks and the National Climate Bank Act

With the National Climate Bank Act introduced in the Senate, interest is growing in how Green Banks can fight climate change and finance the clean energy transition. Yale Insights interviewed CGC’s Executive Director Jeff Schub where he explained how and why Green Banks can have such a great impact:

Hundreds, if not thousands, of very large financial institutions—often backed by governments—are financing fossil fuels. If we’re going to counteract that, we need a climate-focused, mission-driven financial institution.

The discussion touches on why the private sector needs help in order to transition the energy sector at the speed required to avoid the worst impacts of climate change, and how existing Green Banks have already demonstrated successful methods to do so.

The conversation also emphasized the social and environmental justice concerns which existing Green Banks are already working on, and which the National Climate Bank would be empowered to prioritize. Low-income households already devote a greater portion of their income to energy, so it’s especially necessary to take their needs into account.

Read the full piece at Yale Insights.

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