NEW YORK--(BUSINESS WIRE)--Kroll Bond Rating Agency (KBRA) releases a new ESG Talks episode on clean energy and its impact on the markets. In this episode, Cecil Smart, Managing Director in KBRA’s ABS Commercial team, interviews Alfred Griffin, President of NY Green Bank. Griffin provides an overview of how NY Green Bank works with the private sector to promote clean energy across the state.
“We are very fortunate to be operating in [New York], a state with very strong policies related to clean energy and the deployment of clean energy,” Griffin said. “Solar is certainly an area that we have seen a lot of activity, therefore, giving us financing opportunity. A big share of investment to date has been in solar.”
NY Green Bank’s investments and activities support Governor Andrew Cuomo’s nation-leading goals to combat climate change, as outlined in the Climate Leadership and Community Protection Act, which includes a mandate that 70% of the state’s electricity come from renewable sources by 2030.
“We have three basic investment criteria that we’re expected to meet with every transaction. One is that we be self-sustaining, that the revenues we earn will be in excess of portfolio losses and operating expenses,” Griffin said. “The second criteria is that everything we do is expected to result in financing market transformation. [That’s] the concept of finding those opportunities that we can help scale, help create a precedent, do the heavy lifting to get things off the ground, and ultimately have the private market crowd in …. The third is that everything we do is expected to result in the reduction of greenhouse gases in the state of New York,” he added.
The full episode can be streamed here.
About ESG Talks
ESG Talks is a KBRA Podcast series focusing on environmental, social, and governance (ESG). This podcast will highlight various ESG hot topics and includes commentary from prominent voices within the ESG community. As we continue to expand globally, KBRA Podcasts is a go-to source for intimate briefings directly from our knowledgeable team members and guests.
About KBRA and KBRA Europe
KBRA is a full-service credit rating agency registered with the U.S. Securities and Exchange Commission as an NRSRO. In addition, KBRA is designated as a designated rating organization by the Ontario Securities Commission for issuers of asset-backed securities to file a short form prospectus or shelf prospectus. KBRA is also recognized by the National Association of Insurance Commissioners as a Credit Rating Provider and is a certified Credit Rating Agency (CRA) with the European Securities and Markets Authority (ESMA). Kroll Bond Rating Agency Europe is registered with ESMA as a CRA. Kroll Bond Rating Agency Europe is located at 6-8 College Green, Dublin 2, Ireland.