In a guest column in the San Francisco Examiner on Earth Day, April 24, Robyn Purchia took the opportunity to explain why San Francisco should use every tool at its disposal, including public banks, in its efforts to radically change the culture that has brought us to the current state of climate emergency. Purchia writes:
“[A] public bank could serve people and the environment better than traditional, profit-motivated financial institutions. It could enable developers to build more affordable housing near jobs, which can also reduce traffic, air pollution, greenhouse gas emissions and suburban sprawl. It could fund more solar panels and green infrastructure projects, which would create more jobs.”
Purchia quotes Kurtis Wu, an advocate with SF Public Bank:
“A public bank can better direct capital to align with our values. It can promote clean energy, zero waste and public transit. It can even support agriculture.”
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