MAPC Statement on new Climate Bank

MAPC Statement on new Climate Bank

June 13, 2023 - The Metropolitan Area Planning Council (MAPC) in Boston released a statement in support of the state’s new Climate Bank, established by the Healey-Driscoll Administration today with the goal of supporting affordable housing in climate-friendly developments.

“We applaud the Governor and Lieutenant Governor for creating this new tool to finance climate-forward developments in Massachusetts, continuing their commitment to tackling the housing crisis head-on while debunking the notion that net zero developments are inherently unaffordable,” said MAPC Deputy Executive Director for Public Affairs and Advocacy Lizzi Weyant. “By nesting this within MassHousing, the Administration sends a clear message that addressing housing affordability and addressing our changing climate are intrinsically linked, and that we can make progress on our goals of reducing fossil fuel dependency in new buildings while creating new housing that is affordable to working families too.”

The Climate Bank will be the nation’s first “green bank” devoted to affordable housing and will be seeded with $50 million in funding from the state’s Department of Environmental Protection (MassDEP). It will be designed to leverage public and private funds and facilitate lending to projects that will bring climate-friendly affordable housing to Massachusetts.

“As the regional planning agency serving Metro Boston, we know that our communities want solutions to our displacement and affordability challenges without sacrificing our climate goals,” said Weyant, who also served as Co-Chair of the administration’s Climate Transition Committee. “Today’s announcement represents an equitable approach to creating climate-smart housing, and says a loud, clear message that we don’t have to choose between creating affordable housing and promoting climate-smart development.”

PRESS CONTACT

Tim Viall
Senior Communications Specialist
tviall@mapc.org