What does Connecticut Green Bank do?

The Connecticut Green Bank is the first green bank in the United States, established in 2011 as a quasi-public agency. Its mission is to accelerate the green economy by leveraging public funds to attract private capital, making clean energy more affordable and accessible. The organization aims to create resilient and equitable communities while addressing climate change. In 2021, its focus expanded to include climate adaptation, land conservation, and environmental markets. The Green Bank employs a public-private financing model that emphasizes sustainable financing over subsidies. It has deployed $3.11 billion in capital for clean energy projects, attracting significant private investment. Key achievements include the deployment of over 732.2 MW of renewable energy, energy cost reductions for more than 69,000 families and 8,500 businesses, and the creation of nearly 12,000 clean energy jobs. The Green Bank also prioritizes investments in vulnerable communities, ensuring that the benefits of green initiatives are inclusive and widespread.