An investment bank to help the US prosper

A National Climate Bank, based on green banks in countries such as Australia as well as in the states of New York and Michigan, passed the House of Representatives as part of the Moving Forward Act. Because specific opportunities and challenges differ across the country, it should have regional bran...

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Bibliographic Details
Published in:	FT.com
Main Author:	Griffith-Jones, Stephany
Format:	Newspaper Article
Language:	English
Published:	London The Financial Times Limited 11-11-2020
Subjects:	Clean technology Climate change Commercial banks Coronaviruses COVID-19 Financial institutions Institutional investments Recessions Small & medium sized enterprises-SME United States > US
Online Access:	Get full text
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Summary:	A National Climate Bank, based on green banks in countries such as Australia as well as in the states of New York and Michigan, passed the House of Representatives as part of the Moving Forward Act. Because specific opportunities and challenges differ across the country, it should have regional branches and work with municipal bond issuers and local financial institutions, such as state green banks and commercial banks. Working alongside commercial banks and institutional investors, it would share knowledge as a public not a proprietary good, so critical risk and performance data make it to market quickly.