NY green bank to back clean energy lenders serving disadvantages communities

It will enable community-based financial organisations to support more high-impact and emissions-reducing clean energy infrastructure projects that benefit underserved people

Big Zero Report 2022

NY Green Bank has announced it is seeking to make investments in clean energy lenders that are serving disadvantages communities across New York.

This will enable community-based financial organisations to support more high-impact and emissions-reducing clean energy infrastructure projects that benefit underserved people in the state.

NY Green Bank is inviting such lenders, including community development financial institutions (CDFIs), insured credit unions and depository institutions as well as non-profit lending corporations, to submit proposals for projects.

The initiative supports New York’s goal of ensuring a minimum of 35% with a target of 40% of the benefits of clean energy investments benefit disadvantaged communities.

Andrew Kessler, NY Green Bank President said: “Today’s announcement is representative of NY Green Bank’s expanded investment approach to prioritize financing that will benefit New York State’s disadvantaged communities.

“We will continue to identify ways to meet the state’s climate justice goals through targeted investments and by collaborating with our market partners that are working at the local level to advance clean energy projects in all areas of the state.”

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