View source for A Public Bank as a Green Bank

[[PPBC Docs|Back to Public Bank Documents]]
----
'''RE/EE''' 

'''Issue:        Rapidly adopt renewable energy and energy efficiency technology.'''

Coordinated implementation of technologies for renewable energy and energy efficiency (RE/EE) can create jobs and support economic development while providing energy that is cleaner, more reliable, and less expensive.

'''Need:        Increase and coordinate private capital flow to develop the green economy.'''

The City should assure the availability of financing for both public and private RE/EE projects that are in the public interest.  To build financing capacity, the City should leverage its resources by engaging private investors.

Development of a RE/EE-powered economy requires planning and coordination.  To expedite expansion of PV solar installation, for example, a pipeline for worker training, subsequent employment, installation company operating capacity, and consistent project flow must be ramped up; and each aspect of that pipeline requires available financing.

'''Solution: Create a Philadelphia Public Bank to function as a Green Bank.'''

In conjunction with the Philadelphia Energy Authority, a Philadelphia Public Bank can work with private-sector investors to provide low-cost, long-term, sustainable financing for programs and specific projects that develop the RE/EE economy.  The PPB could help to nurture a green impact ecosystem within the City and develop a portfolio of RE/EE and other sustainability investments across the public and private sectors.

The PPB could also issue green bonds and/or climate bonds, financial instruments applied for RE/EE, climate-related, and/or environment-sustaining projects.  The proceeds of such bonds would provide a pool of capital that, with or without partner banks and/or investors, could build and maintain momentum for development of a green economy. 

The Connecticut Green Bank provides a model for accelerating the growth of RE/EE technology implementation in the residential, commercial, industrial, institutional, and infrastructure sectors of the economy.