An Act creating a climate bank in Massachusetts

This bill creates the Massachusetts Climate Bank, a public entity designed to help fund climate and clean energy projects across the state. The bank will operate under a board of directors and has the authority to provide various financial tools such as loans, loan guarantees, and credit enhancements to support innovations that reduce greenhouse gas emissions or improve energy efficiency. Its primary goal is to accelerate the transition from fossil fuels to clean energy while ensuring that disadvantaged and low-income communities benefit from these developments. The legislation also establishes clear definitions for terms like "climate and clean energy innovations" to guide the bank's activities in line with the state's existing emission limits.