Could California’s Public Banks Finance a Statewide Green New Deal?
As in many climate discussions, the promises of balancing economic goals with the winding down of fossil fuel production and the ramping up of new infrastructure are often received with skepticism and raised eyebrows. Soon, climate action numbers in the scale of trillions are thrown into the debate in an attempt to align climate ambition with “achievable” solutions. But fortunately, California can bypass this misguided set of choices. Enter the state’s secret weapon: public banks.