California's Green Bank
Safeguarding the Golden State’s well-being and prosperity means protecting our environment and strengthening our climate resilience. The State Treasurer’s Office does its part by serving as California’s Green Bank. The office invests a portion of funds from the Pooled Money Investment Account (PMIA) in bonds that finance green projects throughout the world. It also operates two authorities charged with financing and administering programs that promote green jobs and green California industries, keep our air and water clean, and support greenhouse gas (GhG) reduction by facilitating financing for energy efficiency and encouraging the use of alternative energy.
The California Alternative Energy and Advanced Transportation Financing Authority (CAEATFA) and the California Pollution Control Financing Authority (CPCFA) help industry and government build qualified renewable energy, energy efficiency, pollution reduction and waste recycling projects. Both authorities administer a wide variety of programs to help businesses and consumers while reducing GhG emissions.
Assisting Businesses
Supports reduced greenhouse gas emissions by providing incentives to California-based manufacturers that promote alternative energy, recycling, advanced transportation and clean jobs creation.
Makes it easier for small businesses to comply with California’s clean air regulations by expanding their access to loans they can use to buy new diesel trucks or buses or to retrofit their existing vehicles.
Tax-Exempt, Private Activity Bonds
Provides companies with low-interest, tax-exempt financing to complete projects that reduce greenhouse gases and other forms of pollution, turn waste into energy, improve wastewater treatment, provide high-quality drinking water and improve the environment in a variety of other ways. Actively issuing Green Bonds for pollution control and other environmental projects meeting commonly accepted standards for climate investments.
CALReUSE Brownfields Assessment and Remediation
Paves the way for cleaning up and developing contaminated properties by providing loans and grants to assess and remediate contamination so that vacant and underutilized properties can be transformed to expand California’s housing inventory and accelerate local economic development opportunities. Currently seeking additional funding since existing funding is exhausted.
Makes it easier for small businesses to obtain loans for electric vehicle charging stations, Americans with Disabilities Act compliance, seismic safety and more.
Small Business Energy Efficiency Financing
Encourages small businesses to invest in energy-saving upgrades by expanding their access to private capital for energy efficiency upgrades.
Affordable Multifamily Energy Efficiency Financing
Facilitates attractive private capital financing for energy efficiency improvements to multifamily properties serving lower-income Californians.
Helping Consumers
Property Assessed Clean Energy Loss Reserve
Encourages communities to allow their residents to pay for clean energy improvements on their property tax bills by mitigating the potential risk to lenders.
Residential Clean Energy Loans
Helps California residents improve the energy efficiency of their homes by facilitating attractive rates and terms on loans for approved energy retrofits.
Investing in Clean Energy
Since April 2009, the Treasurer’s office has used funds from the Pooled Money Investment Account, which it uses to manage the state’s cash flow and strengthen the financial security of local governments, to purchase $1,500 million of World Bank Green Bonds. These bonds combat climate change by financing renewable energy, energy efficiency and mass transportation projects throughout the world.