Short answer: Green Banks are mission-driven institutions that use innovative financing to accelerate the transition to clean energy and fight climate change.
What are Green Banks?
A Green Bank is a financial institution that aims to accelerate the deployment of clean energy and sustainability projects by leveraging public and private funds to provide affordable financing. These banks play a crucial role in reducing greenhouse gas emissions, promoting renewable energy, and driving economic growth through environmentally friendly investments.
Groundswell Capital serves as Arizona's first Green Bank, dedicated to advancing economic justice and climate resilience. By focusing on small business support and sustainability, Groundswell Capital mobilizes capital for projects that foster a resilient and equitable Arizona.
Supporting Small Businesses & Entrepreneurship
Groundswell Capital provides essential financial support to small businesses, especially those owned by women, minorities, and monolingual Spanish speakers. Initiatives like the AVANZA Empowerment Fund and Semillas Microloan Fund are tailored to empower underrepresented entrepreneurs, ensuring they have the resources needed to grow and succeed.
Promoting Sustainability and Climate Resilience
Groundswell Capital addresses Arizona's pressing water and energy challenges by developing innovative financial products for clean energy projects, water resilience, and climate adaptation. Through partnerships with national and local organizations, Groundswell Capital aims to make sustainability initiatives accessible and affordable for all.
Major Coalitions and Achievements
Groundswell Capital is a key player in several major coalitions and initiatives:
Coalition for Green Capital: As a member, Groundswell Capital collaborates with other Green Banks to share best practices and drive impactful change.
American Green Bank Consortium and G-50: These partnerships enhance Groundswell Capital’s ability to leverage the Greenhouse Gas Reduction Fund (GGRF) for Arizona's benefit.
Equitable Clean Water Grant: Selected as one of six Green Banks to improve drinking water safety, stormwater management, and drought resilience in Arizona.
Impact on Arizona
The establishment of Groundswell Capital as a Green Bank represents a significant step towards a sustainable future for Arizona. By addressing critical issues such as water scarcity and renewable energy, Groundswell Capital is not only improving the environment but also fostering economic growth and resilience across the state. This initiative ensures that underserved communities have access to the financial resources needed to participate in and benefit from the green economy.
Groundswell Capital's innovative approach and commitment to sustainability position Arizona as a leader in clean energy and climate resilience. By empowering communities, supporting small businesses, and promoting sustainable practices, Groundswell Capital is creating a legacy of environmental stewardship and economic prosperity for future generations.
For more information, visit our website at www.groundswellcapital.org .
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