On 9 December 2015, a group of six green banks and two leading non-profit groups announced they are establishing a Green Bank Network to help meet the urgent need of increasing and accelerating investment in renewable energy and energy efficiency worldwide.
The founding partners of this major clean energy initiative are the UK Green Investment Bank, the Connecticut Green Bank, NY Green Bank, the Green Fund (Japan), Malaysian Green Technology Corporation and Clean Energy Finance Corporation (Australia); the network plans to expand rapidly.
With nations around the world making new commitments to reducing heat-trapping pollution, more capital than ever will need to be deployed for clean energy solutions. Green banks can help stimulate the private investments necessary for nations to meet their commitments. Green banks represented at a summit in New York last year said they collectively expected to deploy over $40 billion in capital for investments in clean energy and energy efficiency projects over the next five years.
The Green Bank Network will increase the global impact of green banks by enabling them to collaborate more effectively, share and leverage individual bank experiences, publicise achievements and grow the ranks of green banks worldwide.
For further information, please visit the relevant Green Investment Bank website.
