Apply Now to Serve on NMCIC’s Board of Directors

Submission deadline: March 22, 2024

New Mexico Climate Investment Center (NMCIC) is a nonprofit investment vehicle to fill important financing gaps in providing climate and equity solutions in the State, with initial focus on adaptation to climate change and energy burden reduction for low-income, disadvantaged, and tribal communities and small businesses. The initial Board of Directors will have an opportunity to lay the foundation of the state’s new Climate Investment Center.  Responsibilities will include establishing NMCIC’s governance process, strategic planning, business structure design, setting operational objectives, and hiring the Center’s first CEO.

Background

The New Mexico Climate Investment Center (NMCIC) was born from a multi-year effort through the Coalition of Sustainable Communities NM (CSCNM) and with the support of the Governor’s office and relevant state agencies. It was created to fill New Mexico’s clean energy and climate equity finance gaps and is New Mexico’s first “Green Bank.”

NMCIC is a 501(c)3 nonprofit financial institution that operates on the “Green Bank” model: it uses a small amount of public money to attract and significantly leverage private sector money for investments in projects that boost equity and reduce greenhouse gas emissions, typically where other sources of financing are not readily available. NMCIC prioritizes accelerating the reduction of greenhouse gasses and benefiting those most vulnerable to climate change, low-income, disadvantaged and tribal communities. NMCIC will support the climate goals of the State as well as those of local governments; it will operate as a public-private partnership.  While NMCIC is known as a “green bank,” it is not a deposit-taking bank but an investment fund with unprecedented opportunity to access some of the $27 billion in the Inflation Reduction Act targeting “green banks,” states, and local governments. “Green banks” are a proven model with over eleven years of history nationally; they are a potent tool for energy equity and justice. With a cumulative investment in 2021 of $2.6 billion of public funds, “green banks” throughout the U.S. created over $10 billion in total investments in hard-to-finance projects, with a multiplier effect of 3.7 times public dollars.

Board of Directors Selection Criteria

The Initial Board will be established by the Nominating Committee and approved by the Founding Board. It will serve an important function, as it will set the foundation for NMCIC’s governance, strategic planning, business structure and operational objectives, as well as hire the first CEO. CSCNM will provide administrative services to the Board until salaried positions are filled.

The number of Directors shall be not less than five and shall be no more than eleven voting members, and will serve 1 and 2 year terms, which can be extended. There will be 3 Ex Officio non-voting members, two representing relevant state agencies and the CEO.

The Nominating Committee will determine who will be candidates for the Board. Board nominees should have subject matter experience in one or more of the following areas:

• Investment or deployment of clean technologies,
• climate change mitigation and adaptation,
• environmental justice,
• economic issues faced by low-income and disadvantaged communities,
• investment fund management, banking, finance,
• economic development,
• foundation or nonprofit management.

Additional aspects that will be considered by the Nominating Committee:  

• Availability for board meetings and committee meetings for around 8 hours per month in year one,
• experience starting and/or managing an organization,
• organizational leadership,
• well respected, good standing within the communities in which they work,
• representation of geographic spread in NM, rural as well as urban,
• representation of gender, ethnic and socio-economic diversity of NM,
• potential conflicts-of-interest requiring significant recusals.

Applicant Submission Instructions

Interested candidates should submit the following materials to rachel@coalitionscnm.org:

Letter of Interest 

Interested candidates must submit a formal Letter of Interest addressed to the Nominating Committee.

Please include the following:

1. Highlight up to 3 areas of subject matter expertise in which you have relevant depth of experience from the following list:

• Investment or deployment of clean technologies,
• climate change mitigation and adaptation,
• environmental justice¹,
• economic issues faced by low-income and disadvantaged communities,
• investment fund management, banking, finance,
• economic development,
• foundation or nonprofit management.

2. Describe how your work experience, community leadership, and additional interests are important for the formation of this new financial institution in New Mexico.

3. Explain what you see as the inherent value of NMCIC and how you will help to create the foundation to make that value proposition possible.

Resume

Include 1-3 page resume that highlights activities in the areas of relevant expertise, community leadership roles, and other considerations you want the Nominating Committee to know.

References

Please provide names and contact information for 3 people who know your leadership qualities and activities in the community.

Submissions will be closed by March 22, 2024 11:59pm. Please send all materials to: rachel@coalitionscnm.org

¹ Environmental Justice: ensuring that all communities have the right to equal environmental protections, benefits, and involvement in the development of policies