Clean Energy Victory Bond Push in Congress Would Steer $150 Billion to Clean Energy
As US Engages in Climate Talks in Paris, Bill Would Spur Over 1 Million Jobs, Energy Security, Energy Efficiency
WASHINGTON, DC – December 3, 2015 – With all eyes on the U.S. at the climate talks in Paris, the Clean Energy Victory Bonds Act of 2015 has been introduced in Congress. The legislation would go a long way towards helping the U.S. meet its climate goals, while creating over 1 million new jobs at home. Available in denominations starting as low as $25, this proposed new U.S. Treasury bond will enable Americans to invest in the nation’s clean energy future.
The bill was introduced by U.S. Reps. Zoe Lofgren (D-CA) and Doris Matsui (D-CA).
The bill is endorsed by Green America and the American Sustainable Business Council, which together represent half a million consumers, companies, organizations and investors. For more information, visit http://www.CleanEnergyVictoryBonds.org.
Clean Energy Victory Bonds will create the following major benefits:
- Leverage $50 billion investment to provide up to $150 billion in public and private financing to fund the production of innovative energy technologies, at a time when the U.S. is falling behind other countries in clean energy manufacture and installation.
- Help create at least one million competitively-paying jobs in the U.S.
- Support America’s clean energy sector, helping to ensure that the U.S. remains a world leader in this increasingly crucial and competitive industry.
- Reduce U.S. dependence on foreign sources of energy, enhance national security, and limit price increases and fluctuations.
- Provide a secure, competitive, government-backed investment vehicle for average Americans and investment institutions alike seeking a safe place for their money.
- Offer flexible redemption options at interest rates superior to most bank accounts.
- Help all Americans to invest in the future of their country and benefit from their investments.
- Promote a cleaner environment through the financing of clean energy technologies.
- Protect the health and safety of Americans by reducing local air and water pollution throughout the country.
Todd Larsen, executive co-director of Green America, said: “This bond fills a real need for individual and institutional investors, offering them a low risk opportunity to invest in clean energy sectors such as solar, wind, second generation biofuels, electric vehicles, and residential and commercial energy efficiency programs. It will also provide the incentives companies need in the clean energy sector to maintain the United States’ leadership and create over 1 million jobs in the U.S.”
“Clean Energy Victory Bonds will be a huge boon to the growing clean energy and energy efficiency sectors,” said Fran Teplitz, executive co-director of Green America. “Investors and business need steady incentives in order to invest in the clean energy industry in the U.S.”
Tax incentives for renewable energy come and go, often without predictability, leaving investors and industry scrambling. The Clean Energy Victory Bond would extend vital tax credits for a decade, giving emerging industries the support they need to develop and become increasingly competitive.
“The Clean Energy Victory Bond also has a key role in protecting human and environmental health by supporting energy sources that reduce climate emissions,” added Elizabeth O’Connell, consumer advocacy director, Green America. “The United States needs to shift to zero-emissions energy sources by 2050 in order to limit temperature increases to two degrees Celsius.”
“From a business perspective, the Clean Energy Victory Bond makes great sense,” said Richard Eidlin, co-founder & VP of policy for the American Sustainable Business Council. “The market is speaking, and it's speaking in favor of clean energy. As the world comes together in Paris to address climate change, it is more important than ever for renewable energy industries to have a new source of investment capital to build the market momentum."
ABOUT THE GROUPS
Green America works to harness economic power—the strength of consumers, investors, businesses, and the marketplace—to create a socially just and environmentally sustainable society. The organization has a national membership of 200,000 consumers and a green business network of 3,000 companies and investment firms screened for the social and environmental impacts. Green America has a long-standing program dedicated to advancing our clean energy economy. More information at www.GreenAmerica.org and at www.CleanEnergyVictoryBonds.org.
The American Sustainable Business Council advocates for policy change at the federal and state level that supports a more sustainable economy. The Council spans a growing network of business associations across the United States, which in turn represents over 200,000 businesses and 325,000 business executives, owners, investors, and others. The Council communicates to businesses, policy makers, and the media how a sustainable economy based on triple bottom line principles (people, planet, and profit) is good for business and good for America.
MEDIA CONTACT: Max Karlin, (202) 997-3035, or firstname.lastname@example.org.