By Kristoffer Tigue, Photo: Anna Moneymaker/Getty Images, Inside Climate News, July 29, 2022
For 13 years, Reed Hundt has chased the idea of a national green bank, but to no avail.
As CEO of the Coalition for Green Capital, a global incubator for green banks, Hundt has long believed in the green bank financial model of leveraging limited public resources to attract private investors for clean energy projects that governments have been reluctant or can’t afford to support by themselves.
He worked with lawmakers in Colorado, Maryland and Massachusetts to introduce bills to Congress and drum up support in financial circles. In fact, the U.S. House of Representatives passed legislation to fund a green bank three separate times, in large part because of Hundt’s efforts, and President Biden included some $27 billion in his initial spending package last year for such a measure. But victory had eluded him, including when West Virginia Sen. Joe Manchin twice torpedoed Biden’s Build Back Better Act.
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