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By Ryanna Quazi
The Green Bank Bill
A public hearing took place on the Green Bank Bill Bill (3-23) on February 14th, 2023. On March 6, 2023, there was a Transportation and Environment committee work session.
Several witnesses testified at this hearing, including Thomas Deyo, the Green Bank’s CEO. Keep reading to find out more about the bill, similar bills/actions that have taken place in the county, and what residents can do to support the bill.
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An Expansion of Authority
In January 2023, the Montgomery County Council President sponsored Bill 3-23 at the request of the County Executive to allow the Montgomery County Green Bank to expand its authority and to take the place of Resilience Authorities enacted by the Maryland General Assembly in 2020.
The Green Bank was established through Bill No. 18-15 in June 2015. It focuses on renewable energy sources to decrease greenhouse gas emissions by working with the private sector. The graphics listed below are highlights from the Green Bank’s 2022 Annual Report. It shows the impact the Green Bank has made on greenhouse gas emissions through the utilization of renewable energy sources.
The new Resilience Authority allows the counties in Maryland to finance, manage, or support other projects to decrease the negative impacts of climate change. This includes creating flood barriers, providing green spaces, and creating stormwater infrastructure. If this bill passes, the Green Bank would expand its authority by addressing resiliency concerns beyond renewable energy sources. According to the public hearing notice, the County Executive requested this legislation because he believes that “creating a Resilience Authority in Montgomery County would not provide any benefits to the County that could not be achieved by expanding the authority of the already existing Green Bank.”
During the March 6th committee work session, Green Bank representatives testified that the Green Bank currently has a $4 million budget. The Green Bank would use its revenue to build out its climate change resiliency activities.
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Council President Evan Glass was asked by our reporter how he thinks the Green Bank will benefit from expanded authorization. He stated “The Montgomery County Green Bank serves a key role in leveraging public and private dollars for important environmental investments. This legislation allows the Green Bank to increase its ability to provide low-interest loans so that more buildings can go green.”
Previous Climate Change Mitigation Strategies
In recent years, the county has taken other steps to reduce the impacts of climate change. Examples include grassroots efforts such as the County Climate Stories Ambassador program where people speak about their efforts to reduce the impact of climate change in their communities. It features residents from all over the county such as Ramata Diop from Silver Spring and Hyun Martin from Gaithersburg. Another example includes governmental actions like the County Climate Action Plan. That aims to eliminate greenhouse gas emissions in Montgomery County by 80% by the year 2027 and by 100% by the year 2035.
Take Action Now
If you would like to express your support for Bill 3-23, click here to send an email now to the Transportation and Environment Committee. You can also find the contact information for the Transportation and Environment Committee here.
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Actually, the county greenhouse gas target is 80% reduction by 2027 with the residual emissions by 2035. I would urge you to correct your story.