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Green bank
Financial institution providing funding exclusively for decarbonization projects / From Wikipedia, the free encyclopedia
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A green bank (sometimes referred to as a green investment bank, a state investment bank, a clean energy finance authority, or a clean energy finance corporation[1]) is a financial institution, typically public or quasi-public, that employs innovative financing techniques and market development tools in collaboration with the private sector to expedite the deployment of clean energy technologies.[2] Green banks use public funds to leverage private investment in clean energy technologies that, despite their commercial viability, have struggled to establish a widespread presence in consumer markets.[3] Green banks aim to reduce energy costs for ratepayers, stimulate private sector investment and economic activity, and expedite the transition to a low-carbon economy.
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In the United States, green banks have been established at the federal, state, and local levels. The United Kingdom, Australia, Japan, New Zealand, and Malaysia have all established national banks dedicated to leveraging private investment in clean energy technologies.[4][5] Collectively, green banks around the world have facilitated approximately $30 billion in clean energy investment.[6]