Delivering Historic Climate Investment to Our Communities

This summer we made history. The Inflation Reduction Act (IRA) was signed into law, making it the largest climate investment in U.S. history. The IRA includes approximately $370 billion in federal investments that build a path towards a more just and thriving clean energy economy. These investments will pay off, cutting climate pollution by 40% below 2005 levels by 2030. However, a big question still remains: who will benefit the most from this historic investment? 

Disadvantaged communities (DACs) continue to struggle with the disproportionate impacts from climate change. These communities also suffer from a legacy of economic disinvestment and exclusion, which the transition to a clean energy economy must address. The IRA directs at least $60 billion dollars for programs that target DACs through a variety of programs that reduce pollution and make zero-emission infrastructure more affordable, while making related economic development more equitable. These programs include $3 billion for environmental/climate justice community led projects, $27 billion to establish a national green bank that fund climate/clean energy projects in DACs, $4 billion for energy and water efficiency, $3 billion for projects that improve transportation access and affordability, and millions more to support technology that maps environmental harms and economic disinvestment in DACs. 

However, passing this historic investment did come with setbacks. The IRA binds the leasing of land for renewable energy projects to fossil fuel development, which poses a great risk to DACs across the country that could be exposed to an even greater amount of fossil fuel pollution. Also, the lack of transparent support for this provision from many large green organizations caused tension among many environmental justice organizations which will take time to repair.   

Overall, this historic investment is exactly what our communities need. Done right, the transition to clean energy will be more equitable, funneling major investments in corners of the country that need it the most. Achieving this will happen through rigorous community engagement and coordination as IRA $ trickles down from the federal government. This allows those who historically haven’t had a place in the clean energy economy a huge opportunity to participate. HBCUs, churches, and other community organizations will all play a major role in directing funds from the IRA into their communities. 

There’s never been a better time to start a career in the climate/clean energy sector. If you’re interested in joining this growing workforce, check out our job board.