green bank

[green bangk]

noun

1. a public, semipublic, or nonprofit financing organization that is dedicated to investing in projects intended to help the environment, such as renewable energy or carbon reduction.

Word History and Origins

Origin of green bank¹

First recorded in 1990–95, for an earlier sense; 2005–10, for the current sense

Example Sentences

The awards came from the Solar for All program, part of the $27 billion “green bank” created as part of a sweeping climate law passed in 2022.

Read more on Seattle Times

The taxpayer-funded green bank has faced Republican opposition and concerns over accountability for how the money gets used.

Read more on Seattle Times

But the taxpayer-funded green bank has also faced opposition, notably from Republicans in Congress, who have called it a “slush fund” and voiced concern over accountability and transparency on how the money is used.

Read more on Seattle Times

Recipients were awarded competitive grants from two of the three programs overseen by the “green bank” created in the Biden administration’s landmark climate law, the Inflation Reduction Act, passed in 2022.

Read more on Seattle Times

The Democrat first introduced legislation to create a national green bank 15 years ago.

Read more on Seattle Times