State and local governments are key stakeholders in determining whether the Inflation Reduction Act is transformative for climate and industrial policy for years to come. One key provision is the Greenhouse Gas Reduction Fund, which provides $27 billion to support the proliferation of new and existing state green banks.
As the economic and financial impacts of climate change grow, it is crucial that state governments maximize the impact of this large, one-time injection of federal capital.
Building a diverse, inclusive, and accountable green bank that fosters multi-agency coordination toward a range of investment needs is imperative.
In this memo we make recommendations for how green banks can be designed in a manner consistent with this vision. Click the image below to read the full report: