New York State Gov. Kathy Hochul is putting a quarter of a billion dollars toward clean energy products to reduce greenhouse gas emissions.
The $250 million Community Decarbonization Fund will help fund projects that reduce emissions in underserved communities in the state, according to a press release.
This money will help support community lenders who are financing clean energy projects to accomplish these goals.
"As we continue to build an equitable, clean energy future for all New Yorkers, NY Green Bank is sending a clear signal that our state is a leader in green infrastructure and economic development," Hochul said.
"Increasing the capacity of community-based lenders to support clean energy projects in underserved communities across our state will improve access to renewable energy and healthier, affordable housing while we continue working to ensure a greener New York for all," she said.
The fund will help New York reach the goals of its Climate Leadership Community Protection Act, the press release said.
The act calls for the state to reduce greenhouse gas emissions by 85% by the year 2050.