Coalition for Green Capital
The Coalition for Green Capital is a 501(c)(3) non-profit that works with governments at the international, national, state and local level to establish green bank finance institutions to accelerate the deployment of renewable energy, energy efficiency, and sustainable transport.
Activities
CGC partners with governments throughout the U.S. and abroad to design and launch green banks tailored to the specific needs of each market. Through partnerships with existing green banks and research, CGC investigates and develops new ways that green banks can grow clean energy markets. CGC also works with policymakers, industry associations, and other key stakeholders to share information about the green bank concept, and what Green Banks have already achieved. As a non-profit, CGC is primarily funded by many of the leading climate and energy focused-foundations.CGC lists its on-going work on its website.
History
CGC was created as an outgrowth of Reed Hundt and Kenneth Berlin's efforts with the 2008 Obama-Biden Transition Team to promote financing for clean energy and energy efficiency, and initially focused on advocating for a federal-level green bank.The green bank concept was included in the Waxman-Markey climate change bill that passed the US House of Representatives in 2009. However, climate change legislation was unable to pass the Senate, and the CGC turned its attention to creating a state-level green bank.
The CGC helped newly elected Governor Dannel Malloy re-purpose the Connecticut Clean Energy Fund to create the nation's first green bank. The Connecticut green bank has since demonstrated the power of the green bank model, using limited public funds to attract over $491.2m of private investment in the Connecticut clean energy economy from 2012 to 2015.
Since that time, and based on Connecticut's success, interest in the green bank concept has grown significantly. CGC now works in over a dozen states that are at some state of green bank development or consideration. CGC continues to work at the federal level, supporting the introduce of the Green Bank Acts of 2014 and 2016. CGC works increasingly at the international level, particularly with the formation of the Global Green Bank Network.