A message from Executive Director Charlie Sidoti on Coalition for Green Capital’s investment in GreenieRE

Yesterday, the Coalition for Green Capital, announced an investment of $200 million in GreenieRE, an impact-focused reinsurance company designed to remove financing obstacles in the insurance market to reduce costs and accelerate the deployment of clean energy technologies at-scale. Over the next decade, GreenieRE will create a ripple effect across the financing ecosystem and unlock over $30 billion in private-sector investment toward qualified projects that allow access to clean, cheap power.  

As a founding member of The GreenieRE Coalition, InnSure enthusiastically congratulates both CGC and GreenieRE on this monumental achievement. There are 1500 mission-driven Community Development Financial Institutions that provide catalytic capital to unlock innovation and economic development. Until now, none have been (re)insurance organizations. 

The demand for smart, responsible, and mission-driven capital that leverages extensive insurance knowledge and industry best practices is substantial, and we are confident that GreenieRE’s pioneering approach will not only be successful in de-risking cheap power but will foster the emergence of a Community Development (Re)insurance sub-sector within the CDFI community. This will unlock and accelerate desperately needed insurance innovations that can tackle various protection gap challenges beyond those currently addressed by GreenieRE. We believe this is a better way than creating federal backstops to shore up every industry market failure of which there are many.

Special thanks to Chris Lowell, InnSure Board Member, GreenieRE Board Member, and Managing Director of InnSure for tirelessly working over the last 18-months with the GreenieRE team and our GreenieRE Coalition partners to help make GreenieRE a reality.