Memphis Metropolitan Land Bank Authority Launches Green Bank to Drive Sustainable Development in Memphis

Memphis Metropolitan Land Bank Authority Launches Green Bank to Drive Sustainable Development in Memphis

October 29, 2024. Memphis, Tenn. The Memphis Metropolitan Land Bank Authority (MMLBA) is proud to announce the official launch of the Memphis Metropolitan Green Financial Corporation (MMGFC), also known as the Green Bank. 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.

Press event:
Tuesday, October 29, 2024 at 9am

Hall of Mayors, City Hall, 125 N Main Street.

Speakers:
Paul Young, Mayor of Memphis

Michael Harris, President/CEO of Metropolitan Land Bank

Yasmin Yacoby, Deputy Director US Dept of Energy – Office of Energy Equity & Justice

Beverly Roberston, Board Chair – Memphis Metropolitan Green Financial Corp

Ruth Ann Norton, Memphis Metropolitan Green Financial Corp

Pearl Walker, Memphis Metropolitan Green Financial Corp/Councilwoman

Mark Yates, Memphis Metropolitan Green Financial Corp – Regional VP TVA

Karen Camper, House Minority Leader

Justin Pearson, State Representative

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 [email protected].