How green banks aim to use new federal funds to accelerate low-carbon transition

In this episode of the ESG Insider podcast, we delve into a measure in the recently passed U.S. Inflation Reduction Act, or IRA, that allocates $27 billion toward green banks and other local investments via the U.S. Environmental Protection Agency's Greenhouse Gas Reduction Fund.    In an interview with Connecticut Green Bank President and CEO Bryan Garcia, we explore how green banks could use this new influx of federal funds to accelerate the low-carbon transition. The Connecticut Green Bank was the nation's first green bank and was formed in 2011.   We also talk with Reed Hundt, the CEO of the Coalition for Green Capital, a nonprofit with the goal of accelerating investment in clean energy technologies, which has helped organize a number of green banks.    To hear more about the implications of the Inflation Reduction Act, check out our recent episode on the topic here: https://www.spglobal.com/esg/podcasts/what-landmark-new-us-climate-law-means-for-emissions   And to learn more about green banks, check out this podcast episode of ESG Insider:  https://podcasts.apple.com/us/podcast/how-green-banks-can-accelerate-climate-finance/id1475521006?i=1000534974896   Register for the event S&P Global Sustainable1 is hosting during Climate Week here: https://events.spglobal.com/event/bc170867-ebf3-423d-a828-2c379780a571/summary?RefId=social&rt=suGjbadFj0uCGwHKysKQtQ   We'd love to hear from you. To give us feedback on this episode or share ideas for future episodes, please contact hosts Lindsey Hall ([email protected]) and Esther Whieldon ([email protected]).  Photo credit: Getty Images  Copyright © 2022 by S&P Global  DISCLAIMER  By accessing this Podcast, I acknowledge that S&P GLOBAL makes no warranty, guarantee, or representation as to the accuracy or sufficiency of the information featured in this Podcast. The information, opinions, and recommendations presented in this Podcast are for general information only and any reliance on the information provided in this Podcast is done at your own risk. This Podcast should not be considered professional advice. Unless specifically stated otherwise, S&P GLOBAL does not endorse, approve, recommend, or certify any information, product, process, service, or organization presented or mentioned in this Podcast, and information from this Podcast should not be referenced in any way to imply such approval or endorsement. The third party materials or content of any third party site referenced in this Podcast do not necessarily reflect the opinions, standards or policies of S&P GLOBAL. S&P GLOBAL assumes no responsibility or liability for the accuracy or completeness of the content contained in third party materials or on third party sites referenced in this Podcast or the compliance with applicable laws of such materials and/or links referenced herein. Moreover, S&P GLOBAL makes no warranty that this Podcast, or the server that makes it available, is free of viruses, worms, or other elements or codes that manifest contaminating or destructive properties.  S&P GLOBAL EXPRESSLY DISCLAIMS ANY AND ALL LIABILITY OR RESPONSIBILITY FOR ANY DIRECT, INDIRECT, INCIDENTAL, SPECIAL, CONSEQUENTIAL OR OTHER DAMAGES ARISING OUT OF ANY INDIVIDUAL'S USE OF, REFERENCE TO, RELIANCE ON, OR INABILITY TO USE, THIS PODCAST OR THE INFORMATION PRESENTED IN THIS PODCAST.