Establishes a Massachusetts Climate Bank to fund climate and clean energy innovations.
The bill creates the Massachusetts Climate Bank to facilitate innovative financing solutions for climate and clean energy innovations. The bank will receive funding from cap and trade pollution control programs and other sources. It will provide grants, loans, and equity investments to support climate and clean energy projects. The bank will be governed by a board of directors appointed by the governor and other officials. The bank aims to promote climate resilience, job creation, and economic development in rural and coastal communities.
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