Considering a Green Bank

Greening the greenbacks: Reed Hundt, co-chair of the “Coalition for a Green Bank,” writes about an interesting idea — a government-run, not-for-profit “Green Bank” that will help provide financing for projects that reduce the carbon intensity of our economy. If created by Congress, the bank’s initial capital will be raised through sale of Treasury bonds. Funds will be made available to commercial banks to be used as loans for low-risk green energy projects. Although the initial focus seems to be electricity generation, we can envision it playing a role in remaking the food system, as many agricultural and food-related projects are capital intensive (like manure digesters for dairy farms, or canning facilities for farms) while the people who want to start the projects are short on capital. (TPM Cafe)

One Responseto “Considering a Green Bank”

  1. I’m dubious. Like other government agencies this will be so complicated that those who benefit most will be those who can hire the required lobbyists and lawyers to work through the system hurdles. Additionally, if they’re like other government backed agencies, they’ll frown on independent thinking and creativity. If you take their money then they’ll want you to hire their approved experts which raises the cost of every project. They won’t want to back owner built projects because, after all, you aren’t an expert.

    Let’s work to cut the federal government back to its original functions. That’s primarily external defense (not offense) and managing the between state issues. Let the states handle the in-state issues. Counties in-county issues. Towns in-town. Simpler. More direct. Local.