WASHINGTON, CT - Today, during a roundtable discussion with representatives from the Securities Industry and Financial Markets Association and members of the financial services industry, U.S. Senator Chris Murphy (D-Conn.) vowed to expand “green bank” financing systems – such as Connecticut’s Clean Energy Finance and Investment Authority (CEFIA) – to promote economic prosperity, job growth, and energy security nationwide.

Green banks are organizations that provide limited public dollars to attract larger, private investments in clean energy projects. During the roundtable, Murphy announced his plans to reintroduce the Green Bank Act, which creates a national green bank that provides direct financial support for clean energy businesses and initiatives across the United States. Connecticut’s CEIFA – the first green bank in the country – has, with $165 million in public financing, attracted over $490 million of private investment in clean energy, created over 3,000 job-years, and reduced approximately 1.4 million tons of CO2 emissions over the life of the projects it has financed.

Murphy said, “We’re really proud of the fact that in Connecticut, we were the first state to launch a state-chartered green bank. It’s amazing because it seems like just yesterday – it was 2011 – when Connecticut launched our green bank, and since then, there have been 6 states that have moved forward with their own green banks. Between Connecticut and New York, those two green banks together have sparked over $1 billion in clean energy investments. That’s an extraordinary number for a very short period of time. As we think about the future and how we implement the Paris Climate Change Agreement, there’s absolutely no way to do that without a robust public sector and private sector commitment to green finance.”

U.S. Representatives Carolyn Maloney (D-N.Y.), Chris Gibson (R-N.Y.), and Paul Tonko (D-N.Y.) also participated in the roundtable discussion today.