Green Bank Network (GBN)

Information presented in this profile is for reference only. The Climate Action in Financial Institutions Initiative does not guarantee as to the exhaustiveness of this information and invites you to contact the Secretariat (contact@mainstreamingclimate.org) if you wish to propose any modifications.

By including this profile, the Initiative, its Supporting Institutions and the Secretariat do not endorse the activities described below nor the guidance and information provided in this profile.

Last updated: July 2018

Website: greenbanknetwork.org/

Contact: greenbanknetwork.org/contact-us/

Summary: Launched in 2015 the Green Bank Network (GBN) is “a membership organization formed to foster collaboration and knowledge exchange among existing Green Banks, enabling them to share best practices and lessons learned. The GBN also aims to serve as a source of knowledge and a network for jurisdictions that seek to establish a Green Bank”.[1] The GBN aims to increase the investment flows dedicated to low-carbon and climate-resilient infrastructure projects.

What are the objectives of the initiative?                  

“Our primary focus is on helping the founding members effectively share information to advance their missions, establishing a robust and efficient organization structure and developing content on Green Bank products and best practices.”[2]

Who launched it? Who is participating?

The creation of the GBN was announced at COP21 in 2015 by the Clean Energy Finance Corporation (Australia), Connecticut Green Bank (U.S.), Green Finance Organisation (Japan), GreenTech Malaysia, NY Green Bank (U.S.), and Green Investment Group (UK). It was officially launched in 2016. These Green Banks are working with two non-profits, the Coalition for Green Capital and the Natural Resource Defense Council as Secretariat. [3]

What is a Green Bank?

“A Green Bank is a publicly capitalized entity established specifically to facilitate private investment into domestic low carbon, climate resilient (LCR) infrastructure and other green sectors such as water and waste management. These dedicated green investment entities have been established at the national level, state level, county level and city level. While Green Banks differ in name, scope and approach, they generally share the following core characteristics: a mandate focusing mainly on mobilizing private LCR investment using interventions to mitigate risks and enable transactions; innovative transaction structures and market expertise; independent authority and a degree of latitude to design and implement interventions; and a focus on cost-effectiveness and performance.”

source: greenbanknetwork.org/

Why has this been put into place?

“While clean energy markets have made tremendous advances in recent years, immature and illiquid markets are still a major barrier to realizing the full extent of the shift in global energy investment. Green Banks and Green Bank-like entities are uniquely positioned to help “mainstream” LCR investment. […] The Green Bank Network will collect, organize and share Green Bank know-how through virtual and in-person platforms to facilitate the exchange of information.” [4]

What are the main work streams/areas of work?

The Green Bank Network is proposing knowledge sharing activities through a series of webinars, a knowledge center and by organizing and taking part in events gathering Green Banks and other partners.

Webinars organized until now covered the following issues:

– Unlocking Clean Energy Investment in the Commercial & Industrial Sectors;
– Community Solar: NY Green Bank’s Financing Approach and NYSERDA Programs;
– How Do Green Banks Assess and Report Impacts, and Why Is It Important?;
– Accelerating clean energy in public buildings: lessons from Rhode Island Infrastructure Bank;
– Opportunities for Public and Private Finance to Accelerate Growth of the Electric Vehicle Market;
– Financing Clean Energy in Affordable Housing Through Green Banks: CT Green Bank Approaches;
– CEFC’s approach to investing in small-scale energy efficiency & clean energy;
– Green & Resilience Banks: How the Green Investment Bank Model Can Scale Up Climate Finance in Emerging Markets.

In 2018, the GBN launched a “Transaction Takeaways” series highlighting notable features of Green Bank deals.

“Over time, the GBN aims to increase the flow of capital to LCR infrastructure by helping private sector investors and developers further partner with Green Banks; driving standardization of deal structures, contracts and metrics; increasing visibility and transparency of Green Banks; and tracking progress made with key indicators.”[5]

What are outcomes of the Initiative linked with the 5 Principles?

The GBN measures its impact in LCR investments:

source: greenbanknetwork.org/gbn-impact/

Have intermediate or final reports / guidance been issued?

  • Principal publications of the Green Bank Network:
    • How Green Banks Assess And Report Impacts (2018) – This issue brief discusses how GBN members approach impact assessment, monitoring, and reporting, as well as related challenges.
    • Transaction Takeaway: Kennedy Energy Park (2018) – The brief paper presents on specific AUS$160 million project, which received an AUS$94 million senior secured loan from Australia’s Clean Energy Finance Corporation. The project developed by Windlab Limited and Eurus Energy Holdings Corporation, integrates 43 MW of wind, 15 MW (AC) of solar, and 2 MW of lithium ion battery storage.
  • The GBN has created a Knowledge Center on its website with white papers, reports, slide decks, webinars, videos and standardized documents of specific interest to its membership on climate-related topics. The GBN Knowledge Center is a central repository for information on Green Bank transactions, financial products, organizational and program structures, and impacts. It includes information collected from Green Banks around the world, helping other Green Banks and related financial institutions understand the purpose, mechanics and impact of actual Green Bank investments.

Calendar and milestones

Associated Supporting institutions of the Climate Action in Financial Institutions Initiative:

Supporting institutions are not members of this network.


[1] https://greenbanknetwork.org/about-gbn/

[2] http://greenbanknetwork.org/wp-content/uploads/2017/01/Green-Bank-Network-Bulletin-June-2016-Public.pdf

[3] https://greenbanknetwork.org/about-gbn/

[4] https://greenbanknetwork.org/about-gbn/

[5] https://greenbanknetwork.org/about-gbn/

Links with the 5 Voluntary Principles for Mainstreaming Climate Action

This section aims to support discussions on the implementation of the 5 voluntary Principles for Mainstreaming Climate Action. Information provided in this section is for reference only; the Climate Action in Financial Institutions Initiative, its Supporting Institutions and the Secretariat do not endorse the activities nor the guidance and information provided in this section.

The webinars organized by the GBN present case studies and focuses on how to address barriers and promote climate smart investments in specific sectors:

– Unlocking Clean Energy Investment in the Commercial & Industrial Sectors;

– Community Solar: NY Green Bank’s Financing Approach and NYSERDA Programs;

– Accelerating clean energy in public buildings: lessons from Rhode Island Infrastructure Bank;

– Opportunities for Public and Private Finance to Accelerate Growth of the Electric Vehicle Market;

– Financing Clean Energy in Affordable Housing Through Green Banks: CT Green Bank Approaches;

– CEFC’s approach to investing in small-scale energy efficiency & clean energy