As the first state level green bank, Connecticut’s model has mobilized more than $2 billion in private investment in the green economy – reducing energy costs for families and businesses, especially those in vulnerable communities, and avoiding greenhouse gas emissions.

HARTFORD, Conn (July 14, 2023) – The Connecticut Green Bank is excited by the U.S. Environmental Protection Agency’s (EPA) announcement today regarding the launch of two Notices of Funding Opportunity (NOFOs) under the $27 billion Greenhouse Gas Reduction Fund: the $14 billion National Clean Investment Fund (NCIF) and the $6 billion Clean Communities Investment Accelerator (CCIA).

The NCIF will make two to three awards to national nonprofits that will provide financing to businesses, communities, community lenders and others to deploy low- and zero-emission projects with at least 40 percent of investments benefitting low-income and disadvantaged communities.

The CCIA will make two to seven awards to hub nonprofits that will expand the clean finance ecosystem by providing funds to experienced community lenders to rapidly deploy capital in underserved markets. The entire CCIA is dedicated to projects that benefit low-income and disadvantaged communities.

Both NCIF and CCIA projects will target the decarbonization of existing buildings, the decarbonization of transportation, and distributed power generation.

“We know that the benefits of clean energy can have a profound impact on the lives of families in low-to-moderate income communities by reducing their energy burden and improving air quality,” said Bryan Garcia, President and CEO of the Connecticut Green Bank. “We have begun to see this impact in Connecticut, and we are excited that these NOFOs will help us further mobilize private investment to increase access to clean energy to reach more of those who need it most.”

“Connecticut has long positioned itself as a leader in clean energy deployment through bipartisan policies and actions that include creating the first state-level Green Bank in 2011,” said Lonnie Reed, Chair of the Connecticut Green Bank. “Along with our partners, we stand ready to ensure that our disadvantaged communities gain access to these historical funds and benefit from much healthier environments.”

Since 2011, the Connecticut Green Bank has been positioned between the state’s strong public policy goals and the private market, leveraging public dollars to mobilize multiples of private investment to confront climate change by avoiding the emissions of greenhouse gases and local air pollution.

This increased investment has led to the deployment of clean energy for families and businesses – especially those in vulnerable communities – helping them reduce energy costs, create jobs, and improve public health. Through innovative partnerships with local banks, credit unions, and community development financial institutions, the Green Bank strives to ensure that no less than 40 percent of investment benefits vulnerable communities, including low-and-moderate income households, Community Reinvestment Act eligible communities, and environmental justice communities.

Learn more about the Connecticut Green Bank at www.ctgreenbank.com. Learn more about the green bank model at www.ctgreenbank.com/strategy-impact/societal-impact/. Learn more about our impact (click here), including in vulnerable communities (click here).

Through Raise Green’s award-winning online platform, anyone can invest as low as $100 to help combat climate change and support small business energy efficiency upgrades  

Hartford, CT (June 27, 2023) – CGB Green Liberty Notes LLC, a subsidiary of the Connecticut Green Bank, proudly launches its seventh Green Liberty offering today. The crowdfunding campaign is made possible in partnership with Raise Green, an award-winning online marketplace for impact investing. Through this offering, Connecticut residents and citizens nationwide can invest as little as $100 to support small businesses in improving their energy efficiency and reducing energy costs.  

“We are pleased to see demand for these offers increasing, as shown by our new and continuing investors, most of whom are from our home state of Connecticut. Through our six offerings, we’ve raised $1.25 million, which help small businesses lower their energy costs and allow our investors to earn a competitive return while combating climate change,” said Bryan Garcia, President and CEO of the Connecticut Green Bank.  

Notes may be purchased through the online platform without a broker, with a $100 minimum. The previous Green Liberty offering was the fourth consecutive offer to surpass its maximum raised amount, so interested investors are encouraged to act quickly. To date, 67% of investments have been $1,000 or less, with buyers from 35 states nationwide, and more than half of the investors have been Connecticut residents.  

Investors from the third round of Green Liberty Notes in July 2022 can reinvest their principal and interest in this latest offering. Anyone who invested in the third round and invests in this offering, either by reinvesting their principal and interest or by investing a different amount, will receive an interest rate increase as a thank-you for their early support of the Green Liberty Notes. 

Investments in the Green Liberty offering support Eversource’s Small Business Energy Advantage (SBEA) program, which enables small businesses in Connecticut to reduce their energy costs through efficiency upgrades and zero-interest loans.  

As a result of the climate benefits associated with the SBEA program, this Green Liberty offering has been reviewed and verified for its environmental attributes by Kestrel. 

For more information about the investment opportunity, please visit invest.ctgreenbank.com.