Next City’s Senior Economics Correspondent, Oscar Perry Abello, wrote recently about green banks:
“Green banks are part of a long tradition of using public or collective dollars to sway private investment into serving markets that it hasn’t served, or providing products it hasn’t provided before. Neither they nor the private sector can fund everything that’s needed to address climate change, but green banks exist to bring the private sector’s attention and resources to the issue in ways that it isn’t or can’t otherwise.”
Next City is a nonprofit news organization that believes journalists have the power to amplify solutions and spread workable ideas from one city to the next city. Their mission is to inspire greater economic, environmental, and social justice in cities. Next City’s civic-minded reporting makes urban places more effective, equitable and sustainable.