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WTF is a green bank?

  • Green banks are state-level financial establishments that aim to fight climate change by funding renewable energy projects.
  • In December, there was talk of a national green bank coming into the picture under the Biden Administration.
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WTF is a green bank?

Green banks are state funded banks designed to fight climate change by funding projects that have the potential to decrease the global carbon footprint and increase the use of renewable energy sources.

There are several green banks in the U.S already. They’ve helped mobilize almost $3 billion in public and private capital for these projects.

Globally, the green bank network, an organization consisting of nine green banks, invested 59% of its lending portfolio in renewable energy projects, like wind. This amounts to avoiding 4.6 million metric tons of CO2EQ emissions or the equivalent of taking 19 million cars off the road.

 


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