The Clean Energy Future Blog

By Coalition for Green Capital

In a special report from Smart Cities World, CGC Executive Director Jeff Schub explains how the trend towards Green Banks is relevant to cities, while also driving clean energy investment at state and national levels. 

Jeffrey Schub, executive director at the Coalition for Green Capital (CGC), the non-profit, which incubates local clean energy finance institutions, told SmartCitiesWorld that the core value provided by green banks is similar whether city-, county-, state-, or entire country-scale.

“Public dollars available for investment in green energy projects are limited, and policy-makers, of course, want to maximise the impact of each dollar of investment,” he said. “Green banks accomplish this in a unique way, blending public, private and philanthropic investment in clean energy projects that would otherwise struggle to find capital. Green Banks can also help to meet needs in hard-to-reach markets, such as those serving low-income customers.”

The piece also highlights the track record of success established by existing Green Banks, and calls out the National Climate Bank Act as a sign of Green Banks’ growing momentum.

Read the whole thing in Smart Cities World here.

By Coalition for Green Capital

This post originally appeared on the site of CGC’s campaign for a federal Green Bank.

Jay Inslee stands out among Democratic Presidential candidates for his focus on climate change, and has been a proponent behind the idea of a national Green Bank to send a powerful wave of investment into the clean energy transition.

In an NYT op-ed on Sunday, he emphasizes what he’s learned from his extensive political career, as well as his time on the campaign trail:

“Americans see climate change in the floodwater in their homes, the choking smoke from wildfires that envelop their skies and the devastating storms that hit their communities each year. They want us to act.”

He provides an antidote to the outdated idea that we must choose between a livable climate and a thriving economy. The switch to clean energy can create jobs and support local economies, including low-income communities, rural communities, and those affected by the transition away from fossil fuels.

See the full piece here.

By Coalition for Green Capital

The core value provided by green banks is similar whether at the scale of a city, county, state, or the entire country. Public dollars available for investment in green energy projects are limited, and it makes sense to maximize the impact of each dollar of investment in order to reduce greenhouse gases.

Cities are a part of the trend, with Green Banks in places like London, New York, and Washington D.C. Establishing a city-specific green bank is also not the only way for cities to participate in the green bank movement- cities can engage with state and county-level Green Bank institutions to invest in local projects.

Today, CGC Executive Director Jeff Schub will be speaking at the Clean Cities Renewable Power Procurement conference, discussing Green Banks as a tool to boost renewable energy and benefit local economies and communities.

By Reed Hundt

Public support is high for programs that address climate change by investing government money in green jobs and energy-efficient infrastructure. The National Climate Bank is a key tool to bring about this investment and accelerate clean energy transition.

As most recently covered in Greentech Media, polls asking the public about green investment proposals including the Green New Deal have met with approval. One Yale survey found that 81% of registered voters either “strongly” or “somewhat” support the plan, including 64% of Republicans.

This may seem very surprising to those who have followed the increasing partisan polarization of change discussions over time. A relevant point lies in how the Yale’s question was posed, which begins:

“Some members of Congress are proposing a ‘Green New Deal’ for the U.S. They say that a Green New Deal will create jobs and strengthen America’s economy by accellerating the transition from fossil fuels to clean, renewable energy.”

The question notably does not prime respondents that the Green New Deal “belongs” to any political party. While the researchers acknowledge that the inclusion of political cues would likely change the responses, the results show that job-creating, money-saving clean energy investment policies like the National Climate Bank have the potential for broad support.

See Greentech Media and the Yale Program on Climate Change Communication for more on the results.

By Coalition for Green Capital

In today’s Morning Consult, CGC CEO Reed Hundt writes in support of the bill recently introduced to create a National Climate Bank:

Many plans have called for increased investment in clean energy; this bill provides a realistic framework to connect dollars with projects and to do it fairly so that economic benefits accrue to those who need them most.

The National Climate Bank could directly finance clean energy projects, as well as capitalizing state and local Green Banks. Read the entire piece here.

For more on the National Climate Bank, see Senator Ed Markey’s press release, and CGC’s press release and bill summary.

By Coalition for Green Capital

Head over to the ClimateWorks blog for a post from Ilmi Granoff, Director of Sustainable Finance at ClimateWorks. Based on a speech given at the US Green Bank Summit, he lays out a strong argument for establishing a federal Green Bank in the US:

Whether you believe that U.S. climate policy is achieved through innovation policy or New Deal-style public mobilization, a national green bank is a crucial policy tool whose moment in the U.S. has arrived.

Read more here: The Case for a US Federal Green Bank

The conversation also continues at NRDC, with a post from Sarah Dougherty and Ann Shikany giving an in-depth introduction to the National Climate Bank concept, including its methods and the types of projects in which it could invest. They conclude:

All this is to say, we are really excited about this National Climate Bank bill. If passed, this bank would be a catalyst for exciting, innovative climate solutions. It would build up local climate leadership and implement equitable solutions around the country.

See the full post here: Introduction: National Climate Bank