I’m really looking forward to the unintended consequences
Portland Clean Energy Fund unveils 5-year plan, $750M projected spending after overhaul
Portland’s first-of-its-kind climate justice program unveiled its five-year plan Thursday to invest hundreds of millions of dollars toward climate action.
The revealed plan increases focus on community resilience, transparency and accountability. That’s after the Portland City Council voted for a major overhaul of the fund after a series of setbacks last year.
The Portland Clean Energy Fund’s (PCEF) $750 million climate investment plan lays out how the city aims to reduce greenhouse gas emissions and ensure the residents most impacted by climate change are prepared. Under the fund framework, grants would go to a wide range of projects, from energy-efficient retrofits to adding renewable energy, to increasing incentives for electric vehicles.
“We’re unveiling our inaugural five-year climate investment plan which sets the stage for the investments that PCEF is going to be making over the next five years, totaling almost nearly three-quarters of a billion dollars into climate projects that address racial justice, social justice and economic justice.” Portland Clean Energy Fund program manager Sam Baraso said.
Sounds more like it’s about politics than science. Oh, and graft/kickbacks/payoffs to donors and such
The climate justice program has been celebrated as a first-of-its-kind environmental justice program created and led by communities of color. The fund is managed by the Portland Bureau of Planning and Sustainability after receiving approval from 65% of voters in 2018.
At the time of its passage, backers estimated the fund would generate between $40 to $60 million each year from a 1% tax on large retailers’ sales. The surcharge generated tens of millions more than anticipated. In its first two years, the fund has led to $145 million in grants that support climate action. Its latest round of community investment was the largest, granting $120 million to support clean energy projects. The fund expects to raise $750 million for additional investment through 2028.
The numbers do not add up, and it’s wishful thinking that this $750 million will suddenly generate. Especially since
- Why Are Businesses Fleeing Portland?
- Downtown Portland’s resemblance to a dead mall
- Exodus From Portland and Rise in Office Vacancies Likely to Continue, Big Global Real Estate Firm Says
- Cracker Barrel becomes latest company to flee Portland amid rising crime, retail theft
- Major Portland company to leave downtown headquarters, report says
You hear a lot about companies fleeing San Francisco, but, Portland is also having major issues with lots of small, medium, and large companies bolting the city. And those who don’t simply pass the tax on to the consumers.
The plan will also make $20 million available for city bureaus and offices to use as leverage to get federal dollars aimed at climate action, like the Inflation Reduction Act and the Bipartisan Infrastructure Law.
$20 million for lobbying? Sounds like a great way to spread some money out to donors and such, eh?
just imagine. if you wrap the grift in lofty sounding rhetoric, the media will go along with the grift and publish it to get the proles on board to surrendering their money and right.