Clean energy boosters on Capitol Hill have borrowed a page from World War bonds with their introduction of a new bill: the Clean Energy Victory Bonds Act of 2014.
Introduced by two Democrat Representatives – California’s Zoe Lofgren and Doris Matsui – the bill has 14 Democrat co-sponsors from various states. Endorsed by clean energy promoter Green America and the American Sustainable Business Council, a proposed new US treasury bond would enable Americans to invest in the nation’s clean energy future in denominations as low as $25.
Ultimately, the so-called “Victory Bonds” would aim to leverage $50 billion of investment to provide up to $150 billion in public and private financing to fund the production of innovative energy technologies and create at least a million jobs.
“There are currently few investment opportunities for the average investor interested in supporting the shift to a clean energy economy so this bond fills a need for both investors and industry,” said Todd Larsen, corporate responsibility division director at Green America, in a statement.
War bonds are issued by governments to finance military operations and other expenditure in times of war and were particularly popular during the two World Wars of the 20th Century. In the US, so-called “Liberty Bonds” were issued to help pay for the country’s involvement in World War One. The measure raised $21.5 billion.