Our Impact
CGC has led the Green Bank movement for over a decade, working at the federal, state, and local levels in the U.S. and countries around the world to expand the presence and capability of green banks and accelerate clean energy adoption.
Since 2011, CGC has supported or created over 40 green banks, and the 2023 cumulative public-private investment facilitated by CGC’s expansive network of green banks and partners now stands at $21.8 billion, up from the $14.8 billion reported in CGC’s 2022 annual report. CGC has developed a pipeline of qualified projects with a demand exceeding $30 billion of public capital in the first year alone, with more than half of those projects being located in low-income and disadvantaged communities. CGC’s proven track record in clean energy acceleration demonstrates that we are instrumental in driving the transition toward clean energy and environmental justice.
State and Local Green Bank Formation and Support
Green bank institutions directly supported by CGC have collectively mobilized over $21 billion in public and private capital into clean energy projects. And CGC is working across many other jurisdictions today to evaluate green bank opportunities and support implementation. CGC worked closely with policymakers and market participants to support green bank formation across the country, including in:
- Connecticut
- New York
- Rhode Island
- California
- Nevada
- Colorado
- Montgomery County, Maryland
- The District of Columbia
International Green Bank Formation
US Federal Advocacy
CGC’s work first began in 2009 to create a national green bank in the U.S., and that work has continued for over a decade. In 2009, CGC worked with leaders on Capitol Hill to secure bi-partisan passage of green bank legislation in the House of Representatives, and bi-partisan support in committee in the Senate.
Though legislation was not ultimately passed, this work sparked the green bank movement at the state and local level that we see today. Green Bank Acts were again introduced in the House and Senate in 2014, 2016 and 2017, each incorporating important updates based on the evolving landscape.
Successful efforts to establish a national green bank were made possible with the EPA’s Greenhouse Gas Reduction Fund competition, a program originally created from the Inflation Reduction Act of 2022.
Using Green Banks to Catalyze Clean Water Infrastructure Investments
Green banks fill market gaps and mitigate perceived risk to increase the demand toward clean energy investments. This means that they can be an effective tool to help accelerate investments towards other green solutions, like projects in the water, agriculture, and land conservation sectors that have struggled to attract the financing support needed to make them viable.
Through a collaborative partnership between Quantified Ventures and Pre-collective, funded by a $1 million grant by the Robert Wood Johnson Foundation, CGC’s green bank network will play a pivotal role in catalyzing investments in clean water infrastructure. Through their concerted efforts, CGC will demonstrate how green banks can serve as catalysts for transformative change, facilitating the rapid deployment of resources towards essential water infrastructure projects that enhance public health, promote resilience, and drive economic growth in communities across the nation.