The Portland City Council has approved creation of a climate action fund.
The money will be used for projects that support the "One Climate Future" initiative, a joint climate action and resiliency plan for the cities of Portland and South Portland. The plan's goals include reducing emissions by 80% by 2050, and running all municipal operations on 100% renewable energy by 2040.
Troy Moon, sustainability director for the city of Portland, said the funds will be used for projects that will help decarbonize city operations.
"So, for instance, city buildings. There's a lot of a lot of work to do to, you know, transition city buildings to run on electric infrastructure, as opposed to fossil fuel infrastructure," Moon said.
The city plans to use money from the sales of its renewable energy credits for the fund which won't be operational until July of next year.