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Cities looking to ‘green banks’ to help fund sustainable infrastructure

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Carey L. Biron June 27, 2017 Washington, DC Citiscope see full article here

As President Donald Trump this spring moved toward a decision to withdraw the United States from the Paris climate agreement, the mayor of the U. S. capital city made her own announcement: She would seek to earmark millions of city dollars to lend to developers and others who want to bolster building efficiency, invest in renewable energy and undertake other ways to reduce carbon emissions.

In so doing, Washington Mayor Muriel Bowser was proposing to create the country’s first city-led “green bank” — a fast-growing strategy for using public money to reduce risk for private-sector investment in sustainable infrastructure and more….

Q&A:

  • What is a green bank, and are they fundamentally different than a traditional bank?
  • What are some examples of where these models have been particularly successful?
  • Have these models sparked additional interest? Are there any broad global trends on this issue?
  • What is the role of a green bank specifically within the city context, and are there any particular obstacles to cities getting involved in this approach?
  •  What are some of the key cities across the globe that have been successful in this space, and do they share any commonalities?
“The green banks are really generating a lot of data —demonstrating to the market that green investments are profitable and good business.”

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