Dive Brief:
- Rep. Debbie Dingell, D-Mich., introduced on Thursday a House version of a Senate bill to establish a National Climate Bank, which the federal government would capitalize with $35 billion over six years.
- The bank is meant to mobilize up to $1 trillion in private investment over a decade, enabling the creation of more green banks in the country and supporting efforts of existing state and local green banks. Dingell’s state green bank, Michigan Saves, has been around for nearly a decade and needs additional funding to support energy efficiency and clean energy programs, its president and CEO, Mary Templeton, told Utility Dive.
- The bill matches a Senate version introduced this summer by a group of Democratic senators. Stakeholders see the bill as an opportunity to consider the policy in broader climate solutions discussions in hopes of getting enough traction for passage in 2021.
Utility Dive
by Iulia Gheorghiu
December 16, 2019