clean energy bond act introduced in congress--social funds
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8/12/2019 Clean Energy Bond Act Introduced in Congress--Social Funds
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April 11, 2014
Clean Energy Bond Act Introduced in Congressby Robert Kropp
The Clean Energy Victory Bonds Act of 2014 is modeled after the Treasury Bonds issued in the 1940s to support theWorld War II effort.
SocialFunds.com -- The market for green bonds is projected to more than double in 2014, to $25 billion, according to awebinar hosted earlier this year by the nonprofit organization As You Sow. Green bonds, which are fixed-income productsthat invest in clean energy and other sustainability measures, were also highlighted recently by expressions of support for the Green Bond Principles (GBP) by many of the world's largest investment banks.
Clean Energy Victory Bonds (CEVBs), a campaign of Green America introduced in 2012, are proposed US Treasurybonds whose proceeds of which will finance clean energy innovation. The bonds are modeled after Victory Bonds sold tofinance the war effort during World War II, “one of the most successful fundraising efforts in US history,” Green Americastated.
Clean Energy Victory Bonds received a boost this week when USRepresentatives Zoe Lofgren and Doris Matsui, along with 15 originalco-sponsors, introduced the Clean Energy Victory Bonds Act of 2014. CEVBs will lead to “The creation of up to $50 billion in directinvestment that could be leveraged in proven incentives to acceleratethe development of clean energy and clean energy technologies,”Rep. Lofgren stated in a press release.
“The sale of the bonds is expected to raise up to $50 billion, whichwould leverage an additional $100 billion from private investors,”according to Green America.
Readers of SocialFunds.com will be familiar with many of thenonprofit organizations and institutional investors that have declaretheir support for Clean Energy Victory Bonds. Listed among the
nonprofit supporters are 350.org, Ceres, and Earthworks. Institutionalinvestors supporting the initiative include Calvert Investments, Clean Yield, Pax World, Self Help, and Zevin AssetManagement.
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