Tuesday October 29—the City of Memphis announced the launch of the Memphis Metropolitan Green Financial Corporation (MMGFC), also known as the “Green Bank.”

In a press release, the City of Memphis explains the new initiative:

“This groundbreaking initiative represents an important investment in the future of Memphis and Shelby County, fostering sustainable urban development and promoting environmental stewardship for all residents.

As a pioneering not-for-profit financial institution, Green Bank is dedicated to providing accessible financing for projects focused on energy efficiency, green infrastructure and renewable energy. By providing education and awareness about energy and environmental resources, the Green Bank aims to reduce energy costs, improve air quality and build community resilience to climate change.

“Our commitment to creating a greener, healthier and more resilient future for Memphis has officially begun,” said MMLBA President and CEO Michael Harris. “The Green Bank will play a key role in ensuring that our city develops in an environmentally and economically sustainable way, enabling us to respond effectively to the challenges posed by climate change. »

The launch was made possible with $150,000 in seed funding from the Tennessee Valley Authority (TVA). The board of directors of the new organization includes:

• President Beverly Robertson, Trust Marketing
• Mark Yates, Tennessee Valley Authority
• Sarah Houston, Protect Our Aquifer
• LaTrecia Adams, Mid-South Environmental Justice Center
• Justin Gillis, President of the MMLBA
• Ruth Ann Norton, Green and Healthy Homes Initiative
• Brandy Ward, Harveston Securities, Inc.
• Victoria Young Robinson, Young Robinson Law Firm
• Brandon Ingram, Universal Commercial
• Pearl Eva Walker, City of Memphis (Council) | Chairman of the NAACP ECJ

Green Bank will soon launch several programs designed to improve energy efficiency and promote sustainable practices in Memphis and Shelby County. These initiatives include:

• Energy efficient home renovations
• Small Business Upgrades
• Green infrastructure projects

These programs aim not only to reduce energy costs, but also to improve air quality and stimulate economic growth within the community.

“We are excited about the launch of the Memphis Metropolitan Green Bank and believe this initiative demonstrates our community’s commitment to sustainability,” said Memphis Mayor Paul Young. “By working together, we can prioritize our environmental stewardship and improve the quality of life for all our residents.

The success of the Green Bank is based on the collective commitment of the community. Residents, local businesses and organizations are encouraged to participate in building a sustainable Memphis for generations to come.

For more information about the Memphis Metropolitan Green Financial Corporation, upcoming programs and how you can get involved, please visit www.memphistn.gov/mmlba or contact us at [email protected]“.

Source | memphistn.gov

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