Funding a Green New Deal
Implementing a Green New Deal (GND) will require the mobilization of numerous investment strategies from all levels of government. There are a host of reliable and equitable funding strategies that have already found success across the country and around the world: divestment and local reinvestment, municipal green bonding, local vacancy taxes, fees on anti-ecological practices, public banking, participatory budgeting, and other forms of community-controlled capital. There are many funding options at different levels of government that alliances can explore to make a GND possible. This section covers federal, state, and local options and models for funding.
The state can both block GND efforts through preemption and enable local legislation. Learning how to use state resources and get around financial, technical, and legal barriers is crucial to funding a GND at the local level while enabling our governments to make the investments and policy decisions we need now in order to reach bold climate goals later.
Revenue for a Just Recovery
The Tax the Rich PHL campaign in Philadelphia is taking a reparative and restorative justice approach to funding public services. The report states three overarching demands: 1) require the wealthy to pay their fair share, 2) divest from regressive expenses that harm our city, and 3) cut down payments to Wall Street.
Divest from Climate Destruction & Reinvest in Climate Resiliency
Pathways to a People's Economy is a toolkit created by the New Economy Coalition to provide real examples of how to shift our economic conditions from the bottom up. The section Divest from climate destruction & reinvest in climate resiliency provides guidance on how regenerative climate solutions can be financed by diverting capital from extractive industries and institutions through model policies and case studies.
