Governor Tony Evers Appoints Commission to Drive Wisconsin’s Green Innovation Fund – Shepherd Express
Wisconsin State Capitol, Madison, Wis.
Governor Tony Evers has unveiled his appointments to the Green Ribbon Commission on Clean Energy and Environmental Innovation, marking a significant step towards Wisconsin’s commitment to achieving 100 percent carbon-free electricity consumption by 2050. The Commission, established through Executive Order #195, will play a pivotal role in advising on the state’s groundbreaking Green Innovation Fund, which aims to foster environmental and clean energy advancements, as well as promote sustainable economic growth.
The creation of both the Green Ribbon Commission and the Green Innovation Fund underscores Evers’ determination to address the pressing climate crisis while simultaneously investing in a clean energy economy. The governor envisions this initiative generating numerous well-paying jobs, reducing energy costs, and minimizing reliance on out-of-state energy sources.
Governor Evers expressed his confidence in the Commission’s ability to drive progress, stating, “Our Green Ribbon Commission on Clean Energy and Environmental Innovation will play a critical role in creating a Green Innovation Fund so we can work toward investing in and achieving our clean energy goals. I’m looking forward to the Commission’s work ahead and their important role in helping ensure Wisconsin is a leader in innovative clean energy industries and technologies.”
The Green Innovation Fund, often referred to as a “green bank,” follows the footsteps of other states such as Colorado, Illinois, and Nevada, which have successfully established similar public and private entities. Its primary objective is to facilitate the widespread adoption of new technologies throughout Wisconsin, benefiting families, businesses, and communities alike. The Governor’s Task Force on Climate Change, initiated in 2019, and the state’s Clean Energy Plan, released in April, have both recommended the exploration of green bank options to support local projects.
To finance the Fund, both public and private funding will be leveraged to invest in projects that deliver clean energy solutions to businesses, mitigate pollution, reduce energy costs for households, and expand access to affordable, clean energy alternatives. In addition to private financing, the federal Inflation Reduction Act has allocated $27 billion in competitive funding through the Greenhouse Gas Reduction Fund. States and nonprofit organizations collaborating with community financing institutions like green banks are eligible to receive these funds, aiming to combat the climate crisis, foster innovative clean energy development, and create well-paying jobs.
The administration and oversight of the Green Innovation Fund will be carried out by the Wisconsin Economic Development Corporation in collaboration with the Wisconsin Department of Administration. Their joint efforts will facilitate the development and implementation of next-generation environmental and clean energy technologies and projects across the state. The ultimate goal is to stimulate job creation and reduce energy expenses for both families and businesses. Additional details regarding the Fund will be made available in the coming months.
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Members of the Green Ribbon Commission on Clean Energy and Environmental Innovation include:
For more about the Green Ribbon Commission, visit the State of Wisconsin website.