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Advocates urge expansion of state climate bank to leverage private capital as federal funding wobbles
Summary
Nonprofit and elder-advocate witnesses urged the Senate to expand Massachusetts' Community Climate Bank model — proposing a state-backed climate bank to attract private capital, leverage public appropriations and scale financing for resilience and decarbonization projects.
Sherry Morgan of Elders Climate Action and other witnesses told the committee that private capital channeled through green or climate banks offers a scalable way to replace or stretch dwindling federal support.
Morgan described the Connecticut Green Bank's record and said an expanded Massachusetts Climate Bank could act as a hub using deposits, bond proceeds and other programmed…
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