National Climate Bank: Investing in Clean Energy and Emissions Reduction
This bill proposes establishing a National Climate Bank, an independent non-profit entity, to financially support clean energy and emissions reduction projects. The goal is to accelerate the energy transition in the U.S., create jobs, and lower energy costs for citizens, especially in low-income communities.
Key points
The Bank will finance projects in renewable energy, energy storage, low-emission transportation, energy efficiency, and other environmental initiatives.
At least 40% of the Bank's investments will be directed towards disadvantaged communities facing climate impacts.
The Bank will support the creation of local green banks in states where they don't exist and may establish a 'Cash for Carbon' program to retire carbon-intensive power facilities.
All projects directly financed by the Bank with capital costs of $100 million or more will require project-labor agreements, ensuring prevailing wages for workers.
The Bank will be governed by a Board of Directors, including government officials and experts, and will be subject to external oversight and audits.
Expired
Citizen Poll