Green Banks Coming

Gov. Tony Evers signed Executive Order #195 on April 19, creating the Green Ribbon Commission on Clean Energy and Environmental Innovation to advise on creating the state’s first Green Innovation Fund, also known as “green banks.”

The Green Innovation Fund and its partners will leverage public and private financing to invest in projects that provide environmental and clean-energy solutions to businesses, reduce pollution, lower energy costs for families, and expand access to clean, affordable energy options. 

In addition to private financing for the fund, the federal Inflation Reduction Act created the Greenhouse Gas Reduction Fund and allocated $27 billion in competitive funding for states and nonprofit entities that collaborate with community financing institutions such as green banks to support projects that will combat the climate crisis, invest in innovative clean-energy development and create good-paying jobs. Additional details on the fund will be available in the coming months.