PHILADELPHIA, September 21, 2021 – Today, the Philadelphia Energy Authority (PEA) announced the official launch of the Philadelphia Green Capital Corp. (PGCC), providing businesses with a vehicle with which to drive clean energy and resiliency projects and foster sustainable economic growth across the region. Councilmember Derek Green (At-Large) issued the following statement commending the launch:
“The creation of Philadelphia’s green bank marks the beginning of a new era in our City. I want to commend Council President Darrell L. Clarke for his exemplary leadership in getting the Philadelphia Energy Campaign started, as well as congratulate PEA Executive Director Emily Schapira, PGCC Executive Director Maryrose Myrtetus, and the entire PEA staff on making this a reality for our citizens.
“As we continue to push for renewable energy solutions in various aspects of our lives, such as public utilities and transportation, and transition to more sustainable options for residential and commercial construction and innovation, the $250 million investment of a green bank also helps moves the needle toward a more prosperous and equitable future for our City by providing access to private capital, promoting more public-private partnerships and greater economic opportunities for minority- and women-owned businesses. This is also the goal of establishing a public bank in the City of Philadelphia; to drive economic growth, elevate our under-served neighborhoods and ensure that everyone gets a fair shot at creating generational wealth for their families.
“I look forward to watching PGCC’s success unfold and working together toward achieving a cleaner, greener and greater future for all Philadelphians.”