Green Bank, Environmental Equity Among Climate Deal’s Winners

The launch of what would be the first U.S. green bank to help communities largely left behind by the clean energy revolution is back on track under a Senate climate deal that contains $60 billion in new environmental justice funding.

The new Greenhouse Gas Reduction Fund would be funded at $27 billion over the next decade to better leverage private sector investment and community lenders to build wind, solar, electric vehicle, and energy efficiency projects at the community level, under the deal negotiated between Sen. Joe Manchin (D-W.Va.) and Senate Majority Leader Chuck Schumer (D-N.Y.).

Green banks are typically public ...