MA H3937

Establishes the Massachusetts Climate Bank as an independent public authority to provide financing for climate and clean energy projects, including loans, loan guarantees, credit enhancements, grants, and equity investments

Governed by an 11-member board including the Commissioner of Banks, Secretary of Administration and Finance, State Treasurer, Climate Chief (as chair), and 7 gubernatorial appointees with expertise in ESG finance, banking, climate resiliency, and ecosystem services

Requires minimum funding of $100 million over five years from cap-and-trade revenues, Climate Protection and Green Economy Act fees, and private donations; authorizes the State Treasurer to issue up to $750 million in bonds per fiscal year to capitalize the bank

Mandates at least 20% of funds be designated for rural and coastal community projects; prohibits equity investments in natural gas and utility-scale biomass projects

Requires annual reporting to the governor and legislature on financial performance and sustainability impacts, with audits by the state auditor and a public sustainability benefit policy aligned with UN Sustainable Development Goals and SASB standards