Massachusetts creates 'green bank' to help tackle climate change, housing crunch

Massachusetts is launching what Gov. Maura Healey described Tuesday as the nation’s first “green bank” dedicated to affordable housing. The fund is intended to address two of the state’s top challenges: grappling with the effects of climate change and easing a dire housing market. The initial goal of the $50 million Massachusetts Community Climate Bank is to increase investment in the reduction of greenhouse gas emissions from the building sector, focused on affordable and public housing. Healey says in Massachusetts, buildings account for more than 25% of greenhouse gas emissions — a number that rises to about 70% in the state’s larger, densely-populated cities.