Bay Area Green Fund
Green Banking For A Better Future
“The mission of the Bay Area Green Fund is to reduce emissions and protect natural resources by offering FDIC-insured bank accounts that support financing of environmentally sustainable projects and businesses.” – BAGF Mission Statement (2015)
Community Bank of the Bay (CBB) is a certified Community Development Financial Institution (CDFI) with a longstanding tradition of promoting job creation and economic revitalization by providing affordable deposit accounts and flexible financing to local businesses, nonprofits, schools and faith-based organizations. In an effort to support a more environmentally sustainable economy, CBB created the Bay Area Green Fund (BAGF) in 2007. Re-launched in early 2015, the BAGF has become an innovative way for depositors to become “green” Impact Investors.
The BAGF is powered by deposits, which are leveraged to finance “green” projects and businesses that will positively impact the environment. By moving money into FDIC-insured accounts with CBB, BAGF Depositors are increasing the amount of financing that is available to local “green” businesses (and nonprofits). Conversely, by becoming BAGF Borrowers, eligible “green” businesses are demonstrating the economic viability of projects and practices that address one or more of the following Key Impact Areas:
- Emissions Reduction
- Energy Conservation
- Sustainable Food Systems
- Waste Reduction
- Water Conservation
To prevent “green washing” and demonstrate CBB’s renewed commitment to the BAGF, an Advisory Committee of environmental experts was formed in late 2014 to independently determine which credit-approved borrowers are eligible to participate. Using three Pathways of Participation to measure and evaluate sustainability, Advisors help to ensure that only “green” projects and businesses are allowed to be financed by BAGF deposits.
For more information about the BAGF, please contact your CBB Relationship Manager, or call 510-433-5400
Download details of the BAGF Advisory Board (PDF)