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Green Banks to Spend $15B on Energy Projects over 5 Years

November 24, 2014 By Linda Hardesty

NY Green Bank energy manageThe NY Green Bank hosted a two-day International Green Bank Summit with global financing organizations coming together to adopt a common framework they aim to make easily understood by private sector partners and the public-at-large.

The green banks represented at the summit collectively expect to deploy over $15 billion in capital for investments in clean energy and energy efficiency projects, which could be leveraged to over US $40 billion total investment into global and local clean energy capital markets over the next five years.

Representatives at the summit included the New York City Energy Efficiency Corporation, the UK Green Investment Bank, the Japanese Green Finance Organization, the Australian Clean Energy Finance Corporation, GreenTech Malaysia, the Connecticut Green Bank, the Hawaii GEMS Program and the New Jersey Energy Resiliency Bank. States considering developing state-sponsored clean energy financing institutions were also in attendance.

Participants agreed to reconvene for a 2015 International Green Bank Summit.

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