Memphis Green Bank

The City of Memphis has launched the Memphis Metropolitan Green Financial Corporation, or Green Bank, aimed at promoting environmental sustainability through accessible financing for energy efficiency and renewable energy projects. The initiative, backed by $150,000 in seed funding from the Tennessee Valley Authority, is designed to enhance air quality, reduce energy costs, and stimulate economic growth, particularly in underserved communities. Beverly Robertson, the board chair, emphasized the importance of educating residents about energy efficiency and environmental resources. Mayor Paul Young expressed optimism about the Green Bank's potential impact on the community's quality of life. The organization plans to create a revolving loan fund and has applied for additional funding from the U.S. Environmental Protection Agency. The Green Bank's programs will focus on supporting home and business upgrades to foster a greener Memphis.