Helping Cities Invite Innovation Through Global Pilot Fund & Creating Regional Collaboration Such as the Transportation Electrification Partnership Can Help Unlock $5T & Slash GHG Emissions by 35%; LACI Funds Include First in U.S. National Cleantech Debt Fund to Improve Access to Capital Particularly for Underrepresented BIPOC and Female Founders
During a panel session on Accelerating Equitable Climate Innovation and Action today, Brian Cox joined host and LACI CEO & President Matt Petersen, Phoenix, AZ Mayor Kate Gallego, Edison International SVP Caroline Choi, Audi of America Director of Government Affairs & Sustainability Spencer Reeder, and former California Air Resources Board Chair Mary Nichols to call for a $1 billion Global Cleantech Cities Climate Fund and announce LACI’s $50 million cleantech innovation funds–including the nation’s first ever cleantech startup debt fund–to accelerate equitable cleantech innovation in cities.
As identified in the December 2019 “Cleantech Cities” report released by LACI, PwC, and C40 at COP25 in Madrid, if cities can better invite innovation and remove barriers to funding for startups there could be a $5 trillion market created and and an increase in reduction of GHGs by 35% can be realized. Based on the strategies identified in the report, LACI’s Transportation Electrification Partnership partnered with the City of Santa Monica to invite corporate and startup innovations to work together to create the US’ first Zero Emissions Delivery Zone pilot in Santa Monica.
In issuing the call to create a $1B Global Cleantech City Pilot Fund and urging the modeling of regional public private collaborations such as the Transportation Electrification Partnership, Petersen discussed how cities & regions across the globe can:
- Invite innovation from startups and corporates to reduce greenhouse gas emissions, improve services, and improve equity for underserved, disadvantaged communities who are overburdened with air pollution and climate impacts;
- Co-fund pilot innovation (using budget and in-kind resources from cities and local governments) with Pilot Fund sources secured from federal governments, finance agencies, philanthropic sources, and possibly corporate dollars; and
- Scale successful solutions through needed policy and business model interventions
Please contact Regan Keller at email@example.com to schedule an interview with Petersen.