Catalyzing Equitable Climate Investments: Green Banks in Chicago and Philadelphia

The push for the clean energy transition occurs in the context of American cities that continue to face disinvestment in black and brown communities. An important leverage point for climate solutions will be solving the complex project deployment challenges of decarbonizing existing buildings. Given the recent increased investment and policy attention on green banks as a green finance solution, this study assesses whether the green bank model delivers their professed goals of socially equitable outcomes, market creation, and greenhouse gas emission reductions. The research discusses green bank 1) additionality; 2) organizational structure; 3) scale; and 4) demand as considerations for green bank formulation to drive building decarbonization investments and build community wealth.

Led by: Lia Downing (MCP '24)

Geography: United States, including New York