Hartford, Connecticut, Dec. 15, 2021 (GLOBE NEWSWIRE) -- CGB Green Liberty Notes LLC, a subsidiary of the Connecticut Green Bank, proudly announces their new Green Liberty offering, a crowdfunding campaign launched in partnership with Raise Green, a regulation climate tech marketplace for local impact investing. This new program allows citizens to invest in the Green Bank’s mission to confront climate change. The Green Liberty offering will support Eversource’s Small Business Energy Advantage (SBEA) program, administered through the Conservation and Load Management Plan.
As a result of the climate benefits associated with this program, the offering has been reviewed and verified for its environmental attributes by Kestrel Verifiers.
“Climate change is an existential threat, and massive amounts of capital investment are needed to help combat its effects,” said Bryan Garcia, President and CEO of the Green Bank. “To grow our impact, we need investment support from everyday people – from families in Connecticut to citizens across the country.”
The SBEA program enables small businesses to reduce their energy costs by making energy efficiency upgrades in their office, shops, restaurants, and factories, using zero interest loans. Participants in the SBEA program can borrow up to $100,000 to address these measures at zero interest and repay their financing on their electric bills. In 2019, the Green Bank closed on a financing structure that brought cheaper capital from the market to the program, thereby reducing the ratepayers’ subsidy, by lowering the cost of the capital in the program through a public-private partnership between the Green Bank and Amalgamated Bank.
“Millions of people are alarmed about the climate crisis and are looking for something they can do to make a difference. Taking direct action on the climate crisis can be as simple as investing a few hundred dollars into climate solutions,” said Franz Hochstrasser CEO and Co-Founder of Raise Green. “With Raise Green, we make it easy to invest in climate solutions so everyone can take direct action on the climate crisis and help make real climate projects happen.”
For more information about the crowdfunding opportunity, please visit invest.ctgreenbank.com.
About the Connecticut Green Bank
The Connecticut Green Bank was established by the Connecticut General Assembly in 2011 as the nation’s first green bank and has since supported the creation of more than 23,000 green energy jobs in the state, while reducing the energy cost burden on over 55,000 families, businesses, and nonprofits. The Green Bank’s vision is a planet protected by the love of humanity and its mission is to confront climate change and provide all of society a healthier, more prosperous future by increasing and accelerating the flow of private capital into markets that energize the green economy. This is accomplished by leveraging limited public resources to scale-up and mobilize private capital investment into Connecticut. In 2017, the Connecticut Green Bank received the Innovations in American Government Award from the Harvard Kennedy School Ash Center for Democratic Governance and innovation for their “Sparking the Green Bank Movement” entry. To date, the Green Bank has mobilized nearly $2.3 billion into the State’s green economy. This has reduced the energy costs for thousands of families and businesses, and reduced greenhouse gas emissions that cause climate change and worsen public health.
For more information about the Connecticut Green Bank, please visit www.ctgreenbank.com
About Raise Green
Raise Green is the first marketplace in the U.S. for local and inclusive impact investment into climate solutions. On Raise Green's investor marketplace, anyone (individuals and institutions) can invest in community-focused climate infrastructure and resilience projects across a varied range of project scales and minimum investments. Raise Green gives solar developers the tools to cut soft costs and easily access financing for up to $5M per year. Investors can create quantifiable impacts in local communities, as well as receive financial returns if the project is successful.
