Van Hollen, Markey File Amendment to Bipartisan Energy Package to Create a National Climate Bank

U.S. Senators Chris Van Hollen (D-Md.) and Ed Markey (D-Mass.) have filed an amendment authorizing a study on the creation of a National Climate Bank to leverage public and private funds to invest in clean energy technologies and infrastructure. Their proposal – which would constitute a first step towards the Senators’ National Climate Bank legislation – would amend the bipartisan energy package being considered on the Senate floor this week.

"Increasing our investment in renewable energy technologies is a key element in addressing climate change. It will not only put us on a path to a more sustainable future but also create good-paying American jobs,” said Senator Van Hollen. “Our amendment will advance our plan to create a National Climate Bank that will ultimately help leverage private and public dollars to jump-start innovative clean energy projects. As we look to address America’s clean energy priorities with this bipartisan package, I urge my colleagues to support the inclusion of this common-sense provision."

“Investing in clean, renewable, zero emissions energy projects is an investment in climate action and an energy future free of fossil fuels. Laying the foundation for a National Climate Bank send a signal to the financial, government, and private sectors that we can work together to leverage investment in clean energy. We must continue to find innovative ways to capture and accelerate the momentum of the green economy, and a National Climate Bank will help invest in projects that are looking to decrease energy use and decrease carbon emissions,” said Senator Markey.

As envisioned by the Senators’ National Climate Bank Act, a National Climate Bank would provide financing to eligible regional, state and local green banks, make investments directly into projects that reduce carbon emission, and provide technical assistance for the start-up of new green banks around the United States. The amendment would authorize a study of this approach and lay the groundwork for its passage.