green investment bank

Graphic courtesy The Next System Project

As young people continue to mobilize around climate action, a new report just published by The Democracy Collaborative’s Next System Project, presents a detailed proposal for a publicly-owned, democratically-run U.S. Green Investment Bank. Written by Thomas Marois, a Senior Lecturer at the University of London, and Ali Rıza Güngen, a Carnegie Mellon University political scientist, the report argues that such an institution is a necessary cornerstone to building a just transition to a healthy planet:

“There is no hope of this type of green and just transition without financial institutions that can be democratically commanded to function in the public interest. … Collectively we must face climate change and the disasters it is bringing as a result of human activity, exacerbated by the exploitative, productivist, and consumption-driven nature of capitalism. People have a chance to change the future. Finance will be at the forefront of this change, for better or for worse. It is a choice society must make. … By democratizing the GIB [Green Investment Bank], it is possible to have a green and just financial institution that is both commanded by and working for the public good.

[Read the full report]