Municipal green banks are loan financing entities that leverage both private and public funding to help communities reduce emissions and transition to a green economy. The information in this info sheet can help the City of Boston on its path to establishing its own municipal green bank: included are steps needed to set up a green bank, the different ways green banks can be funded and structured, and the kinds of projects in which green banks invest. Additionally, a list of green banks in cities across the country and their different characteristics are detailed to serve as useful models for any local planning. 

Revenue raising mechanisms (RRMs) use the profit from specific city taxes or fees to fund projects that promote environmental justice and climate mitigation/adaptation. This info sheet discusses these inventive ways to raise significant funds - tens to hundreds of millions - for local climate action and provides five examples of municipalities, including the City of Boston, that have successfully implemented these new municipally-run funding mechanisms. It also covers the positive impact, but also challenges, associated with implementing projects at this scale. 

This info sheet discusses the Massachusetts Community Climate Bank (MCCB). The MCCB is a quasi-public green bank, funded with government seed money to attract significant private investments to operate at scale. It is the states’ first green bank, and focuses specifically on decarbonizing affordable residential housing. Click the info sheet to learn about how the MCCB is organized, the different kinds of projects that it funds, and the bank’s short and long term plans to strategize around building decarbonization in Boston and throughout Massachusetts.  

The EPA has created three different federal re-granting opportunities using money from their Greenhouse Gas Reduction Fund (GGRF). The National Clean Investment Fund (NCIF) and Clean Communities Investment Accelerator (CCIA) are two programs under the GGRF that local nonprofits and businesses can leverage for funding clean technology. This info sheet discusses the priority areas of both programs and their eligibility requirements. It also outlines the different groups who have initially been awarded funding through these initiatives, how they will be regranting money, and how they can be used by organizations in Boston. 

Eleven grantmakers representing different regions of the US were selected by the EPA’s Environmental Justice Thriving Communities Program to distribute a variety of subgrants to community-based nonprofits and other eligible organizations. This info sheet outlines the regional and national grantmakers that will be allocating funding and technical assistance across the country and the timeline and application process for sub-granting opportunities. Also included is an overview of the grantmakers that are relevant to the state of Massachusetts.