Mayor Brett Smiley Announces City’s First-Ever Climate-Initiative Revolving Fund

Tuesday, April 7

Bold new climate commitment outlines Providence's roadmap for renewable energy and carbon reduction initiatives

Mayor Brett P. Smiley today joined City Councilor Sue AnderBois, Director of Sustainability Priscilla De La Cruz, Director of Energy Operations David Ruggiero, Climate Jobs Rhode Island Program Director Aislinn Hanley and Business Manager for IBEW Local 99 Joseph L. Walsh, Jr. to announce the proposal of the City's first-ever green revolving fund. Under the co-sponsorship of Council President Miller and Councilor AnderBois, the Green Revolving Fund would be established by a City Council Ordinance and signed into law by Mayor Smiley. This historic commitment to establish a new climate-focused fund that dedicates City funds to renewable energy and decarbonization further underscores Mayor Smiley's commitment to bolstering climate resiliency and positions the City of Providence as a national leader in the green economy.

"In a moment where the federal administration continues to rollback climate protections, it is critical that local government steps up to protect our neighborhoods from the tangible impacts of our rapidly changing climate," said Mayor Brett Smiley. "The establishment of a green revolving fund is a critical step in protecting our local quality-of-life and ensuring our City is able to sustainably and responsibly adapt our infrastructure to face climate change impacts head-on. I see it as one of my principal responsibilities to ensure that Providence is investing in innovative energy efficient improvements to our infrastructure and creating a greener and healthier future for our communities."

The green revolving fund is meant to sustain decarbonization and renewable energy efforts and invest funding with the goal of significantly reducing energy consumption, costs and carbon emissions, prioritizing sustainability efforts in the City. The funding would be designated from the City's capital improvement budget and be strictly for energy efficiency projects, managed by the City's Department of Sustainability. Proposed projects would be focused on upgrades to City-owned buildings, centered around energy efficiency, electrification and clean energy.

"When I joined the City's Sustainability Department, one of my focuses was moving the needle on our City's investments in greener, more energy efficient improvements to our buildings," said Director of Sustainability Priscilla De La Cruz. "Introducing a dedicated funding stream to advance clean energy sources in buildings that contribute to pollution shows this Administration's commitment to creating a healthier and more sustainable future in Providence."

"Two years ago, knowing we were undertaking a historic volume of construction and renovation in our municipal buildings, we passed the Carbon Neutral Buildings Act to require all municipally owned buildings to be carbon neutral by 2040," said Councilor Sue AnderBois (Ward 3), the ordinance's lead sponsor and Chair of the Special Committee on Environment and Resiliency. "The Green Revolving Fund is the next step in implementation - reinvesting the savings from clean energy into additional projects. While the federal government attacks clean energy, Providence will continue to find new ways to save money, reduce pollution, and create good local jobs."

The establishment of the Green Revolving Fund would go in tandem with helping advance the goals set forth by the "Energy Efficiency and Carbon Neutral Goals for Municipal Buildings Ordinance" that was signed by Mayor Smiley in March 2024. The Ordinance marked a significant commitment by Providence to combat climate change and enhance quality of life. Since the Ordinance was signed, the City has accomplished several milestones, including:

• 22 Building electrification projects have been completed or are currently under construction. This accounts for ~1.2M square feet, or 22% of the City's building portfolio that has been built new or will be updated with heat pump technology by 2028.
• Energy efficiency projects and audits have touched more than 60 buildings over the past 2 years and have resulted in $3.2M in utility incentives for lighting, HVAC and building management system upgrades.
• On-Site renewable energy systems at multiple locations will be completed in 2026. Totaling 1.4 MW of installed capacity, the systems will generate 1,600 MWh of clean energy, or 5% of the electricity used by City buildings.
• The City's Building Energy Reporting Ordinance Program (BERO) confirms that energy use has decreased by 7% over the past four years in City-owned buildings.

"Providence continues to lead the way by pairing ambitious climate action with real investments in workers and communities," said Climate Jobs Rhode Island Program Director Aislinn Hanley. "From committing to become a Climate Jobs City to advancing this Green Revolving Fund, the city is proving that bold policy can deliver lower energy costs, good local jobs, and healthier neighborhoods. This is a powerful model for cities across the country, and a testament to what's possible when leadership, vision, and community come together."

Providence's commitment to achieving carbon neutrality in all City-owned buildings by 2040 also recognizes the importance of ensuring a just and equitable transition away from fossil fuels. Other New England municipalities, like the Towns of Arlington and Needham in and Massachusetts, as well as Vermont have implemented similar municipal green revolving funds, focused on accelerating investments for energy efficiency and infrastructure improvements to build long-term climate resiliency. This proposed fund will bring in additional dollars and savings to the City long-term, while also working to respond to the urgency of the changing climate and the scaling back of federal programs and clean energy initiatives. This dedicated funding will help advance clean energy projects diligently, strategically and cost-effectively.

"Investing in renewable and efficient technologies must go hand in hand with investing in people," said International Brotherhood of Electrical Workers Local Union 99 Business Manager Joseph L. Walsh, Jr. "Dedicated funding for these projects creates real opportunities to expand union apprenticeship programs, train the next generation of skilled workers, and ensure that every job comes with strong wages, benefits, and working conditions. That's how we build a clean energy economy that truly works for everyone, including working families.

The City of Providence also released a clean energy plan for City buildings, the Decarbonization Roadmap, in accordance with the energy efficiency and carbon neutral ordinance for municipal buildings signed by Mayor Smiley two years ago. The Roadmap evaluates cost-effective strategies that can be achieved by 2040 to decarbonize 130 city-owned facilities while maintaining reliable public services and supporting long-term capital planning. To read the 2026 Decarbonization Roadmap, visit https://www.providenceri.gov/sustainability/decarbonization/.