Goldman Sachs’s Urban Investment Group (UIG) has announced a second round of private financing to support the development of green stormwater infrastructure in Milwaukee. The investment, part of the Fresh Coast Protection Partnership (FCPP), aims to tackle environmental challenges tied to climate change while supporting underserved communities.
The Fresh Coast Protection Partnership is a collaboration between the Milwaukee Metropolitan Sewerage District (MMSD) and developers focused on improving stormwater management. Green infrastructure, such as rain gardens, bioswales, and permeable pavements, slows and captures rainwater before it reaches sewers, complementing traditional grey infrastructure.
Since the 1990s, MMSD has prioritised green solutions to mitigate stormwater runoff. The partnership has already contributed over 100 million gallons of stormwater storage capacity toward MMSD’s target of 740 million gallons by 2035. This new round of funding will finance additional green infrastructure projects to manage an extra 11.5 million gallons of stormwater, reducing flooding and preventing sewer overflows.
The initiative prioritises underserved neighbourhoods and supports local economies by engaging small, minority-, and women-owned businesses to implement green infrastructure improvements. Nearly 50% of the planned projects will focus on low-to-moderate-income areas, with a significant portion of the work being carried out on private properties.
Since 2020, 18 green infrastructure projects have been completed, with 93% on private properties and almost half located in underserved communities. The initiative aligns with federal Clean Water Act standards while transforming stormwater into a valuable resource for local residents.
Stormwater runoff is a significant environmental issue in the United States, with the Environmental Protection Agency (EPA) estimating that 10 trillion gallons of untreated runoff enter waterways annually. Green infrastructure projects help capture, filter, and cool rainwater, preventing pollutants from contaminating drinking water supplies and ecosystems.
“This investment will protect communities from environmental threats and provide jobs for the local workforce,” said Sherry Wang, Co-head of UIG.
Goldman Sachs’s Urban Investment Group has been a leader in impact investing since 2001, committing over $21 billion to transformative projects, including sustainable housing and renewable energy retrofits. The recent funding marks the second phase of a nationwide effort to expand green stormwater infrastructure.
By investing in eco-friendly solutions, the initiative contributes to climate resilience, compliance with the Clean Water Act, and long-term environmental sustainability in Milwaukee.
