Partners In Hawaii, Louisiana, Rhode Island, Ohio, Maryland, Florida, Texas, Have Already Been Announced
Washington, DC— The Coalition for Green Capital (CGC) today announced the formation of more new strategic partnerships with state and regional green banks, including Michigan Saves, Colorado Clean Energy Fund, Missouri Green Bank, and Puerto Rico Green Energy Trust. The growing coalition is preparing to seek funding from the Environmental Protection Agency’s (EPA) Greenhouse Gas Reduction Fund (GGRF) to launch a nationwide green bank.
The news comes as the EPA last week announced its program design for the GGRF. The EPA made clear that the primary objectives of the GGRF are to reduce greenhouse gas emissions, drive funds and projects in low-income and disadvantaged communities, and mobilize financing and private capital to stimulate additional deployment of resources.
“We are continuing to forge strong partnerships with organizations that are at the forefront of financing clean energy and supporting low- and middle-income communities in their states,” said Eli Hopson, executive director and COO of Coalition for Green Capital. “Working with Michigan Saves, Colorado Clean Energy Fund, Missouri Green Bank, and Puerto Rico Green Energy will allow us to expand our national reach and deliver on our commitments to address climate change and bring good jobs and economic growth to underserved areas. With this coalition, we anticipate an initial pipeline of clean energy projects valued at $13B in public-private dollars over the next several years.”
“We’re excited to bring our clean energy finance experience of over a decade to this partnership with the Coalition for Green Capital,” said Mary Templeton, president and CEO of Michigan Saves. “Michigan Saves has a track record of serving low- to moderate-income residents in our state, and we look forward to collaborating with the CGC to continue to bring affordable clean energy options to our communities.”
“At Colorado Clean Energy Fund, our mission is to break down financial barriers while funding clean energy projects and reducing pollution,” said Paul Scharfenberger, CEO of Colorado Clean Energy Fund. “We welcome the opportunity to work with the CGC and its partners to advance the goal of a nationwide green bank and provide affordable and equitable lending options to businesses and residents across our state.”
“It is possible to achieve economic prosperity and address climate change at the same time,” said David Pickerill, executive director of Missouri Green Bank. “Missouri Green Bank is committed to working with CGC and its clean energy lending partners to ensure that we are fulfilling our national potential to fund sustainable development and support communities in need.”
“Puerto Rico Green Energy Trust is focused on promoting economic, social, and educational development through the use of clean energy,” said Francisco Berríos, Chair of the Puerto Rico Green Energy Trust. “With the support of CGC and the national green bank, we will be able to enhance our impact in Puerto Rico’s local communities.”
CGC recently announced similar partnerships with Finance New Orleans; the Hawaii Green Infrastructure Authority (HGIA); CleanSource Capital; the Rhode Island Infrastructure Bank; Columbus Region Green Fund (CRGF); Solar and Energy Loan Fund (SELF); the Climate Access Fund; Clean Energy Fund of Texas; Growth Opportunity Partners, Inc.; and the Community Development Venture Capital Alliance (CDVCA).
Michigan Saves is the nation’s first non-profit green bank, and is working to transition to a carbon-free Michigan while promoting accessible, equitable, and just investments in clean energy solutions.
The Colorado Clean Energy Fund aims to mitigate climate change while connecting businesses and individuals statewide with the capital they need. CCEF works to fill gaps in financing for clean energy, energy efficiency, and pollution reduction projects.
As a division of the Missouri Clean Energy District, the Missouri Green Bank works to balance the environmental, economic, and social needs of the state. This means closing the funding gap through financial tools such as loans, leases, and credit enhancements.
A 2019 law established the Puerto Rico Green Energy Trust with the mission of helping low- and middle-income communities and promoting a culture of energy efficiency. They provide loans for solar installations, microgrids in remote communities, and support for small businesses.
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ABOUT COALITION FOR GREEN CAPITAL
The Coalition for Green Capital (@CGreenCapital) is a non-profit with a mission to halt climate change and redress climate and energy-related environmental injustice 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 levels in the U.S. and countries around the world. For more information, visit: https://coalitionforgreencapital.com/.