The growing green banking movement plays a key role in financing clean energy, climate solutions and resilience

GLASGOW, SCOTLAND – Two new financial institutions from Brazil and Washington, DC, today joined a growing green finance movement that uses relatively small pools of public funds to attract much larger private funds to invest in renewable energy , energy efficiency and other low-carbon technologies and projects helping to switch from fossil fuels to a climate-friendly future.

The two new members — the Minas Gerais Development Bank (BDMG) of Brazil, a state-level development bank, and the DC Green Bank of the United States, a city-level green bank established to support a prosperous and sustainable capital for all— joined the Green Bank Network at an official side event organized during the COP26 global climate discussions in Glasgow.

The event titled, Going green: the role of green banks and development finance institutions in the mobilization of private investments in climate solutions ”, was organized by Green Bank Network, Green Bank Development Platform, Inter-American Development Bank, Latin American Association of Development Financing Institutions, Minas Gerais Development Bank and NRDC (Natural Resources Defense Council.)

“All over the world, green banks are pioneers in terms of products and financing platforms adapted to the clean energy transition. Development banks have a long history of fighting poverty through financial opportunity and inclusion, helping to develop new strategic sectors and supporting small businesses ”, said Doug Sims, senior director of the NRDC. “Now the worlds of green banking and development banking come together as essential tools for sustainable and equitable development. ”

COP26 has four key objectives, one of which is to push developed countries to scale up and increase their financial contributions to a crucial international fund established to help developing countries finance clean energy projects and avoid the effects. adverse effects of climate change. Green banks are trusted local partners based in developing countries who can mobilize and direct this financing towards projects that fight against the climate and strengthen local communities.

Globally, there are 27 green banks in 12 countries around the world, mostly in developed countries. Another 20 countries, including emerging markets and least developed countries, continue to develop green banks. Public development banks are also looking to transform themselves into green finance leaders.

Green banks – a specialized stand-alone financial institution, separately managed green facilities or refurbished development banks – are a proven model that can help quickly attract private capital to climate solutions.

Since mid-2021, members of the Green Bank Network have invested or committed $ 50.4 billion in public funds to mobilize private finance that supports climate solutions around the world for a total of $ 134 billion. These investments in clean energy will prevent 48.03 million metric tonnes of carbon dioxide emissions per year, equivalent to taking 22.4 million cars off the road.

Green banks are needed because, while public investment in new projects and technologies is essential, it is not enough to limit global warming to 1.5 degrees Celsius above pre-industrial levels.

“We are delighted to join this growing group of green banks and a dynamic network focused on building a better future for all” said Eli Hopson, CEO of DC Green Bank in the United States. “We are committed to learning from our network colleagues and sharing best practices to deliver critical impact at scale. We know we cannot achieve this impact and this transition to clean energy and a resilient future unless we bring everyone with us, and that is why we are investing in accordance with our core values ​​of sustainability, inclusive prosperity. and clean economy. We look forward to working with the Green Bank Network to build a future where all investments become green investments. ”

“We are delighted to become a member of the Green Bank Network,” said Sergio Gusmão Suchodolski, CEO of the Minas Gerais Development Bank (BDMG) from Brazil. “We are particularly proud to be the first development bank to join the Green Bank Network. Green banks around the world are demonstrating their ability to leverage public and private investment in green infrastructure, and we are delighted to join our allies and add our experience, especially in financing clean energy projects. and urban mobility that advance green and social goals at the same time. ”

Support emerging green bank initiatives through direct capitalization or co-investment and technical assistance, including the creation of a green bank design platform, would leverage international climate finance and national, would develop local green economies and help stimulate a green recovery.

Information on new members of the Green Bank Network:

  • Minas Gerais Development Bank (BDMG) of Brazil. BDMG is a state-level development bank, whose main objective is to support economic, financial and social development in the state of Minas Gerais. Founded in 1962, the Bank provides financial services to businesses of all sizes in all sectors as well as for public infrastructure projects. Since 2012, BDMG has raised approximately BRL 2.5 billion (US $ 460 million) in international and national funds with the aim of supporting green, innovative and agro-industrial projects. Of this amount, around $ 182 million (from the French Development Agency (AFD) and the European Investment Bank (EIB)) is devoted to projects related to climate, sanitation, renewable energies and energy efficiency. In 2020, BDMG was also the first Brazilian financial institution to issue a green and sustainable bond in the US private placement market. The proceeds are used to support projects with environmental and social benefits.
  • DC Green Bank of the United States. DC Green Bank was established in the capital of the United States in 2018 with an expected capitalization of over US $ 100 million. DC Green Bank develops and facilitates innovative financial solutions to support businesses, organizations and district residents on their journey to a cleaner future. DC Green Bank invests in solar energy systems, energy efficient buildings, stormwater and green infrastructure, and transportation electrification in line with its values ​​of sustainability, inclusive prosperity and clean economy.


The Green bank network (GBN) is a membership organization managed by the NRDC and the Coalition for Green Capital which was founded in December 2015 to foster collaboration and knowledge exchange among existing green banks, enabling them to share best practices and lessons learned. The GBN also aims to serve as a source of knowledge and a network for jurisdictions seeking to establish a green bank. The members of the GBN are the Clean Energy Finance Corporation (Australia), Connecticut Green Bank (United States), Energy Efficiency and Renewable Sources Fund (Bulgaria), Green Investment Group (United Kingdom), GreenTech Malaysia, NY Green Bank (United States United States), Rhode Island Infrastructure Bank (United States), Tata Cleantech Capital Limited (India) and new members DC Green Bank (United States) and Minas Gerais Development Bank (BDMG). Visit us at

NRDC(Natural Resources Defense Council) is an international, non-profit environmental organization with more than 3 million members and online activists. Since 1970, our lawyers, scientists and other environmental specialists have worked to protect the world’s natural resources, public health and the environment. NRDC has offices in New York, Washington, DC, Los Angeles, San Francisco, Chicago, Bozeman, MT and Beijing. Visit us at and follow us on Twitter @NRDC.

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