On 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 a significant investment in the future of Memphis and Shelby County, fostering sustainable urban development and promoting environmental stewardship for all residents.
As a pioneering nonprofit financial institution, the Green Bank is dedicated to offering accessible financing for projects focused on energy efficiency, green infrastructure, and renewable energy. By providing education and awareness around energy and environmental resources, the Green Bank aims to reduce energy costs, improve air quality, and enhance community resilience against climate change.
“Our commitment to creating a greener, healthier, and more resilient future for Memphis has officially begun,” said Michael Harris, President and CEO of the MMLBA. “The Green Bank will be instrumental in ensuring that our city develops in an environmentally and economically sustainable way, allowing us to respond effectively to the challenges posed by climate change.”
The launch has been made possible through $150K seed funding from the Tennessee Valley Authority (TVA). The new organization’s Board of Directors includes:
- Chair Beverly Robertson, Trust Marketing
- Mark Yates, Tennessee Valley Authority
- Sarah Houston, Protect Our Aquifer
- LaTrecia Adams, Mid-South Environmental Justice Center
- Justin Gillis, MMLBA Chair
- Ruth Ann Norton, Green & 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) | NAACP ECJ Chair
The Green Bank will soon roll out several programs designed to enhance energy efficiency and promote sustainable practices across Memphis and Shelby County. These initiatives include:
- Energy-efficient home retrofits
- Small business upgrades
- Green infrastructure projects
These programs are set to not only lower energy costs but also improve air quality and stimulate economic growth within the community.
“We are excited about the launch of the Memphis Metropolitan Green Bank and believe the initiative demonstrates our community’s commitment to sustainability,” said Memphis Mayor Paul Young. “Working together, we can prioritize our environmental stewardship and improve the quality of life for all our residents.”
The success of the Green Bank relies on collective community engagement. 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 mmlba@memphistn.gov."
Source | memphistn.gov
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