PlainBillCongress, translated.Legislation. Context. Public interest.Committee on Environment and Public Works Senate Subcommittee on Clean Air, Climate, and Nuclear Safety. Hearings held. With printed Hearing: S.Hrg. 117-21.
Congressional Research Service
Version 00 · Introduced in Senate · Feb 8, 2021
National Climate Bank Act
This bill establishes and capitalizes a National Climate Bank. The independent, nonprofit bank must invest in clean energy technologies and infrastructure to reduce greenhouse gas emissions.
The national bank's investments and procurements division must seek to facilitate affordable investment and procurement, including in low-income communities and communities of color, in key project areas (e.g., renewable energy or climate resiliency measures).
Showing the opening paragraphs of the official summary.
The national bank's start-up division must support the creation of new green banks by states or other political subdivisions. The new banks must be public or nonprofit specialized finance entities that use finance tools to mitigate climate change. The national bank may provide financing for such entities.
In addition, the bank must explore the establishment of a cash for carbon program to remove greenhouse gas emissions from the power system. The program may use market mechanisms to expedite the retirement of carbon-intensive power generation facilities (e.g., coal-fired power generation facilities), acquire carbon assets for the purpose of reducing emissions, and invest in communities negatively affected by the loss of those facilities or assets.
People & committees
Sen. Markey, Edward J. [D-MA] · D–MA
Legislative record
A procedural vote is different from passage. Passage in one chamber does not establish enactment. Explore the glossary.
Committee on Environment and Public Works Senate Subcommittee on Clean Air, Climate, and Nuclear Safety. Hearings held. With printed Hearing: S.Hrg. 117-21.
Read twice and referred to the Committee on Environment and Public Works.
Introduced in Senate
Primary sources
Text links open the official source. We currently store references to these documents.
Source last updated: Sep 8, 2026. Consult Congress.gov for the current record.
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