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Coalition for Green Capital
The Coalition for Green Capital is a 501(c)(3) organization whose mission is to establish green banks at the state, federal, and international levels in order to minimize greenhouse gas emissions and maximize the deployment of clean electricity and energy efficiency.
CGC works to establish green banks on the state, federal, and international levels by conducting in-depth analyses, leading educational campaigns, and providing specialized consulting services. CGC is a 501(c)(3) nonprofit organization incorporated by the District of Columbia in 2012.
The green bank concept is based on a simple premise: if the price of carbon-intensive energy cannot be significantly increased, then the price of clean energy must fall. This idea emerged during Reed Hundt and Ken Berlin’s tenure on the Obama-Biden Transition Team, where they were tasked with the order to incorporate low-cost, long-term financing for clean energy and energy efficiency projects into the President’s energy policies.
CGC has spent the past several years focusing on the development of green banks in states across the country. Building off of the initial momentum generated by Reed Hundt and Ken Berlin, who helped Connecticut to establish the nation’s first state green bank, CGC has played a critical role in the establishment of numerous other state green banks, such as those in Hawaii and New York. CGC is currently leading a working group in California and assisting with state legislation in order to establish a California green bank. Several other states, including Washington, Illinois, New Jersey, and Maryland are seriously considering the establishment of green bank programs and are engaged in communications with CGC. Other states that have expressed interest in green banks include: Minnesota, Massachusetts, New Hampshire, and Rhode Island.