On April 8th, Mayor Eric Garcetti unveiled a landmark Sustainable City Plan outlining a set of wide-ranging goals and directives to improve Angelenos’ environmental and economic quality of life. The plan outlines 13 specific areas for improvement, ranging from local water and energy efficient buildings, to mobility & transit and livable neighborhoods.
“We expect at least 500,000 more people to call Los Angeles home by 2035. So the question before us… is how can we improve our city today, and ensure future generations enjoy a place that is environmentally healthy, economically prosperous, and equitable in opportunity for all?”, asked the Mayor in his opening letter, reflecting the plan’s overarching framework of “environment, economy, and equity”.
In the Prosperity and Green Jobs section, the $50 million dollars of private investment raised by LACI portfolio companies is cited as an example of “LA’s Leadership To Date”. The plan calls for $100 million in green investment by 2017 through LACI specifically – and $2 billion by 2035 for the city of Los Angeles generally – towards the goal of creating more green jobs in LA than anywhere else in the country.
In an interview cited in the Los Angeles Times, LA’s Chief Sustainability Officer Matt Petersen emphasized the need for multiple sectors to work together in order to reach the plan’s objectives, “If we don’t take the step to set targets, and measure progress to achieve those targets, how will we send the signals to the private sector, to the universities, that this is important as a community to come together? There are things we can do, but we can’t do it alone”.
LACI’s President and CEO Fred Walti commended the Mayor’s initiative, and is confident that LACI will rise to the occasion:
The Mayor’s Plan is a breakthrough document that shows what a major city can do when it makes up its mind to do something about our environment. It’s both comprehensive and remarkably detailed. LACI’s role is to develop the companies that will help make the plan’s implementation feasible and cost effective. Innovation is the key ingredient that will make LA a huge green economy. LACI finds, trains, and assists cleantech start-ups in achieving market success, thus providing the technologies that are so essential to a sustainable city.
As a public-private partnership between the private sector, government and academia, LACI works with the various stakeholders mentioned by Matt Petersen to strengthen LA’s cleantech and economic ecosystems for a sustainable and prosperous future. We look forward to continuing towards these goals, and doing our part to make the Mayor’s Sustainability Plan a reality.