Finance Working Group
Overview of the Finance Working Group
The Green New Deal Virginia, much like its predecessor, the New Deal, is designed as a series of policy changes that will create good-paying jobs and improve the quality of life for all Americans. Both the public and private sectors of the economy will benefit from the new shift to an economy fueled by renewable energy, but how are these changes to be paid for? GNDVA is developing a state-centric approach that avoids the use of taxpayer funds by leveraging the use of low-cost bank credit and ready private investments.
The Finance Working Group is led by Marc Armstrong of the Public Banking Institute and Mike Grimm of CarbonNegative OÜ. The workgroup is prioritizing the creation of a Public Bank of Virginia that democratically provides low-cost credit to public financing and the ethical use of approaches such as project finance and competitive tenders to enable communities, independent power producers, and entrepreneurs to develop and fund infrastructure projects supporting 100% renewable energy goals.