Massachusetts Community Climate Bank

Business Description

The Massachusetts Community Climate Bank (MCCB) is an ambitious new climate finance initiative announced by Governor Maura Healey in 2023.

Located within MassHousing, the Commonwealth's housing finance agency, the MCCB will initially focus on supporting decarbonization strategies in the residential sector, specifically in the low- and moderate-income multifamily rental and single-family homeownership markets.

We're the nation’s first green bank dedicated to affordable housing.

This landmark initiative, seeded with $50 million in state funds from MA's Department of Environmental Protection, is designed to maximize investment in the reduction of greenhouse gas emissions from the building sector.

The Climate Bank’s primary goals include attracting private sector capital and federal funds to finance building retrofits aligned with the state’s long-term climate objectives and new construction of decarbonized buildings.

The bank will focus on the affordable housing market, where residents bear a disproportionate burden in energy costs and climate impacts, to promote an equitable energy transition and to meet the needs of environmental justice populations.

Over time, the bank will diversify investments to include other decarbonization measures that benefit communities.