On Thursday, June 22, 2017, US Rep. Elizabeth Esty (CT-5), Sen. Chris Murphy (D-CT), Sen. Chris Van Hollen (D-MD), Rep. Paul Tonko (NY-20), and Rep. Earl Blumenauer (OR-3) introduced versions of the Green Bank Act of 2017, which would establish a national green bank capitalized by green bonds and providing capital to subnational green banks and clean energy projects throughout the nation. Ken Berlin, president and CEO of The Climate Reality Project, released the following statement on the Green Bank Act of 2017.
“The clean energy revolution underway now will transform the American economy and way of life. What the sector needs now is smart and flexible financing to accelerate the renewable revolution. By providing capital for clean energy projects and reducing the risk of investing in clean energy technologies, green banks can help cut dangerous greenhouse gas emissions and create good middle-class jobs.
"The same leadership shown by Representative Esty, Senators Murphy and Van Hollen, and others, can be seen at work in places like Connecticut where the state’s green bank leveraged public financing at a nearly six-to-one ratio, creating more than 13,000 jobs, all while avoiding 2.6 million tons of carbon pollution.
“The Climate Reality Project is committed to solving the climate crisis, and we welcome innovative ideas like the Green Bank Act of 2017 and its efforts to make a national green bank a reality in the United States.”