State lawmakers and Memphis leaders launch initiative for environmental awareness and urban development [Video]

MEMPHIS, Tenn. — The City of Memphis announced a new initiative called Green Bank, focused on investing in more environmental and sustainable urban development. 

The Memphis Metropolitan Green Financial Corporation (MMGFC) is a nonprofit financial institution dedicated to advancing sustainable urban development and environmental stewardship in Memphis and Shelby County. 

Green Bank CEO and President, Michael Harris said this project can provide cleaner energy, lower costs and implement green infrastructure while doing upgrades to small businesses. 

He said they are applying to federal funding to bring revenue to the bank. 

“It depends on the direction that the board is truly going to take us to up and running. A lot of the funds were looking at are federal dollars,” Harris said. 

Memphis Mayor Paul Young told ABC24, the Green …