Photo courtesy of Alexius Horatiusc
HYANNIS – As part of the Commonwealth’s ongoing mission to reach net-zero greenhouse gas emissions by 2050, Governor Maura Healey has announced a new program to help fund environmentally forward construction across the state.
The Massachusetts Community Climate Bank will direct federal grants and private donations towards making new developments more efficient and retrofitting older homes.
It also includes benefits for first-time homebuyers to help alleviate the housing crisis.
“It is the country’s first Climate Bank. It is dedicated to housing, especially affordable housing. In particular we’re centering environmental justice for folks hit hardest by the climate impacts and high energy costs,” said Healey during the announcement Tuesday.
“One study estimates that here in Massachusetts, buildings account for nearly 27 percent of greenhouse gas emissions, but in many of our gateway cities and environmental justice communities those numbers rise to almost 70 percent,” Healey said.
Barnstable is an example of a state-designated gateway city.
Seeded by $50 million dollars in state funding, the program will also leverage money from the Inflation Reduction Act.
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