Rocky Hill, CT (Oct. 25, 2019) – The Connecticut Green Bank is pleased to announce that Governor Ned Lamont has appointed Lonnie Reed as Chair of its Board of Directors.

“I have stated that climate change is an urgent, existential threat that must be tackled immediately, and that Connecticut must remain a national leader on climate action, which is why I have appointed Lonnie Reed as the next Chair of the Connecticut Green Bank,” stated Governor Ned Lamont.  “Connecticut has become the model for green banks across this nation – demonstrating an increase and acceleration of the flow of private capital into markets that energize the green economy through smarter use of public funds.”

Reed served in the Connecticut State House of Representatives for five terms, from 2009 to 2019, before choosing not to run for reelection. As a State Rep, Reed was Co-Chair of the Energy & Technology Committee, Co-Chair of the Bipartisan Long Island Sound Caucus, Co-Chair of the Bipartisan Life Sciences Caucus, a member of the Manufacturer’s Caucus and of the Shoreline Preservation Task Force. She also served on the Bi-State NY & CT Long Island Sound Committee.

“I am grateful to Governor Lamont for appointing me to this challenging new role focused on issues I’ve worked on for years — energy, climate challenges and job creation,” stated Reed. “We are living in transformative times. It is essential that we replace fossil fuel electric generation with a renewable energy infrastructure that won’t traumatize the planet. Colossal investments must be made and the more we can leverage public money — taxpayer and ratepayer dollars — to attract private investors to help pay for these improvements, the better. That’s what the Green Bank does, and I am proud and honored to join this innovative, dedicated team.”

Since its inception in July of 2011, the Connecticut Green Bank has mobilized nearly $1.7 billion of investment into the state’s green energy economy at a leverage ratio of $1 of public capital to $7 of private investment.  This investment has reduced the burden of energy costs on over 40,000 families and businesses (including underserved low-to-moderate income families and small businesses), while creating more than 20,000 jobs in communities across the state, generating over $80 million of tax revenues, and reducing 5.8 MMTCO2 that result in over $200 million of public health savings over the life of the green energy projects.  The mission of the Connecticut Green Bank is to confront climate change and provide all of society a healthier and more prosperous future by increasing and accelerating the flow of private capital into markets that energize the green economy.

“In her various leadership roles at the Connecticut General Assembly over the years, former Representative Lonnie Reed has worked hard to put bipartisan public policies in place that reflect the importance of a modern low carbon energy system,” states Bryan Garcia, President and CEO of the Connecticut Green Bank. “As we look ahead, faced with the magnitude of investment required to put society on a more sustainable path to confront climate change, the Green Bank envisions a world united by the renewable energy of community. We need to continue to innovate and identify ways that allow more people to benefit from investment in the green economy, and Lonnie’s bipartisan experience will be an asset as we work to show that ‘green’ bonds us.”