New ‘green bank’ seeking first round of directors’ applications
Anew “green bank” in New Mexico is accepting applications for its first board of directors. The New Mexico Climate Investment Center is currently accepting applications for its initial board. The deadline to apply is March 11.
The NMCIC is a nonprofit investment vehicle that aims to fill gaps in climate and equity solutions in the state.
The initial focus for the center will be supporting climate change and energy burden reduction policies for lowincome, tribal and disadvantaged communities.
The first board will be tasked with establishing governance processes, strategic planning and business structure design, among other responsibilities. The board will also hire the center’s first CEO.
The term “green bank” is used to describe the NMCIC because it is a nonprofit financial institution that uses public money to attract and significantly leverage private sector money for investments for projects that reduce greenhouse gas emissions.
The center is trying to access federal funding that was included in the Inflation Reduction Act for various efforts to curb climate change. State officials previously said the center will aim to bring in $50 million to $70 million in federal funding from that particular law.
There will be between five and 11 voting board members who will serve one- and two-year terms, which can be extended.
The nominating committee will critique candidates based on subject matter experience in one or more of the following areas:
● Investment or deployment of clean technologies
● Climate change mitigation and adaption
● Environmental justice
● Economic issues faced by low-income communities
● Investment fund management
● Economic development
● Foundation of nonprofit management
Candidates will also be judged on their availability for board and committee meetings, which will take about eight to 10 hours per month, among other criteria.
Additional information about the board is available at https://nmclimateinvestmentcenter.org/board-applications.