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SENATE DOCKET, NO. 2336 FILED ON: 1/20/2023
SENATE . . . . . . . . . . . . . . No. 2170
The Commonwealth of Massachusetts
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PRESENTED BY:
Marc R. Pacheco
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To the Honorable Senate and House of Representatives of the Commonwealth of Massachusetts in General
Court assembled:
The undersigned legislators and/or citizens respectfully petition for the adoption of the accompanying bill:
An Act relative to green financing.
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PETITION OF:
NAME:DISTRICT/ADDRESS :Marc R. PachecoThird Bristol and Plymouth 1 of 2
SENATE DOCKET, NO. 2336 FILED ON: 1/20/2023
SENATE . . . . . . . . . . . . . . No. 2170
By Mr. Pacheco, a petition (accompanied by bill, Senate, No. 2170) of Marc R. Pacheco for
legislation relative to green financing. Telecommunications, Utilities and Energy.
The Commonwealth of Massachusetts
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In the One Hundred and Ninety-Third General Court
(2023-2024)
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An Act relative to green financing.
Be it enacted by the Senate and House of Representatives in General Court assembled, and by the authority
of the same, as follows:
1 SECTION 1. Subject to appropriation, there shall be established at the Massachusetts
2Clean Energy Technology Center a program for clean energy financing.
3 SECTION 2. The Massachusetts Clean Energy Technology Center shall conduct a study
4of clean energy project finance gaps, including but not limited to project capital, project credit
5support/enhancement, project finance insurance, and project pipeline development. The study
6shall include developing recommendations as to potential sources of additional funding to
7support initiatives aimed at closing the financing gaps addressed in the study.
8 Pursuant to the findings of this study and subject to appropriation, the Massachusetts
9Clean Energy Technology Center may establish a “Green Bank” or similar financial initiative to
10provide the investment capital necessary to accelerate the deployment of a range of clean energy
11technologies in the buildings, transportation, industrial and other sectors as necessary in
12furtherance of the Commonwealth's net zero emissions goal. 2 of 2
13 SECTION 3. The Massachusetts Clean Energy Technology Center may utilize said
14investment capital for the purpose of implementing innovative financial strategies designed to
15reduce greenhouse gas emissions and leverage economies of scale including, but not limited to,
16the establishment of a loan loss reserve and energy savings performance contracting.