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Philadelphia PA IPL Local Chapter Meeting – January 2022
January 11 @ 7:00 PM - 8:30 PMFree
This month’s meeting will be held on January 11th:
Philadelphia Public Bank: Boon or Boondoggle?
The Philadelphia City Council is currently considering legislation that would create a Philadelphia Public Financial Authority (PPFA) which in turn would set up a Philadelphia Public Bank. Tax revenues and other money that the City now invests with private banks such as Wells Fargo or Chase could be held by the Public Bank, saving the City significant management fees, and providing a source for loans and seed money for projects and investment in the City, potentially including renewable energy and energy efficiency projects.
- What is a public bank?
- Why do we need it? What can a public bank do that isn’t being done today?
- How would it work? Where does the money come from?
- What prevents our politicians from siphoning off the money for patronage or pet projects?
- How could a public bank help advance the fight against climate change?
Peter Winslow, former member of the PA IPL state Board and longtime active member of the Philadelphia Chapter of PA IPL, has been heavily involved in developing and promoting the public banking concept in Philadelphia. Peter will discuss the concept and benefits of public banking, the proposal currently before City Council, the process involved in getting the public bank set up and running, and how the public bank – working in conjunction with other entities such as the Philadelphia Green Capital Corporation – could support energy efficiency and renewable energy.
There will be time for questions and discussion.
The Philadelphia chapter of PA IPL is very active. Chapter volunteers plan workshops, services, and work in coalition with many other groups bringing faith voices to climate justice and clean energy transition efforts, and they bring climate justice voices to faith work. Their monthly meetings are on the second Tuesday of the month at 7:00 PM, and are open to everyone. Particular meetings may focus either on planning or on a particular program.