Gov. Healey Announces Nation’s 1st Green Bank Dedicated to Affordable Housing 

Governor Maura Healey has announced the launch of the Massachusetts Community Climate Bank, the nation’s first green bank focused on affordable housing. With an initial investment of $50 million from the Department of Environmental Protection, the bank aims to attract private sector capital and federal funds to finance building retrofits and new construction aligned with the state’s climate goals.  

The focus will be on the affordable housing market, addressing the energy cost burden and climate impacts faced by low-income residents. The bank, located within MassHousing, will collaborate with the Massachusetts Clean Energy Center and MassDevelopment to support clean energy projects, starting with affordable housing.  

By providing low-cost capital and innovative financing, the bank aims to integrate clean energy technologies into affordable housing development and preservation. It also seeks to leverage affordable housing refinancing cycles to finance energy-efficient upgrades. The initiative underscores Massachusetts’ commitment to equitable, green, and resilient communities.