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Will Public Banking Bring More Clean Energy Programs to California?

By Nithin Coca - Sharable, September 28, 2017

At a recent forum at Oakland City Hall, experts from the public banking and community energy sectors explored how the creation of a public bank could help communities transition to clean energy while creating economic opportunities.

"We need to build a more sustainable world, we need to be using energy that is positive for the environment and community, and we need to do it a way that support local jobs," said Rebecca Kaplan, Oakland City Councilmember Rebecca Kaplan who is leading the public bank creation efforts.

The forum took place in Oakland, California, just days after the approval of a resolution to fund a feasibility study by the City Council, with support from neighboring cities. The first and only public bank in the U.S. is the Bank of North Dakota.

"A public bank can really create community wealth in ways other institutions are not capable off," said Gregory Rosen, the founder of High Noon Advisors, a local consulting firm with experience in clean energy investing. "It can help people of different backgrounds and income levels come together, for the good of the community."