OAKLAND, Calif., April 28, 2021 /PRNewswire/ -- The newly launched Justice40 Accelerator will support communities on the front lines of the climate crisis in accessing federal funding flowing from President Joe Biden's historic executive order directing 40% of the benefits from government-funded climate action to disadvantaged communities. Participating organizations can share existing expertise, and qualify for capacity-building grants averaging $25,000 each. After a dialogue with potential applicants and in response to needs in the field, the accelerator will also offer project development workshops, partnership opportunities, technical expertise, and informational briefings and resources to support dozens of community-based organizations as they apply for federal funds."The Biden/Harris administration's Justice40 Initiative is an incredible opportunity to finally center communities that have suffered most from dirty energy and the effects of climate change – the same communities that can lead us through a just transition to a clean-energy economy," said Gloria Walton, CEO of the climate justice grantmaking organization The Solutions Project, which funds and amplifies community-based climate solutions."But this historic plan will work only if climate funding flows directly to those front-line communities, instead of solely to the same old organizations and businesses that already have plenty of resources and inside-the-Beltway connections," said Walton. She joined The Solutions Project's co-founder, the actor Mark Ruffalo, to announce the Justice40 Accelerator on CBS This Morning. Community-based organizations are creating innovative climate solutions across the United States, but often lack access to the resources they need to realize them fully. Most front-line climate organizations are rooted in and accountable to communities of color, which bear disproportionate burdens from climate change and dirty energy. They are historically underinvested in across both philanthropy and government funding — and the convoluted federal funding ecosystem is difficult for even the most well-resourced organizations to access. The Justice40 Accelerator aims to provide philanthropic and technical support to access federal grants and contracts, and will also serve as a navigator for front-line organizations to access the funding they deserve.
Climate justice and other community groups are working on the front lines of rising sea levels in Miami and warming temperatures in Iowa, and on the fence lines of oil sands pipelines in Minnesota and oil drilling in Los Angeles. They are bringing clean energy and safe drinking water to predominantly Black communities in the South, creating wind-energy jobs in multi-racial communities in the urban Northeast, and building efficient, affordable, solar-powered housing in Indigenous communities on the Great Plains. "Washington ideas can feel impossibly far away and inaccessible when you're working on the front lines of climate solutions," commented Lenwood Coleman, Chief Program Officer of community clean power and resilience nonprofit Groundswell. A U.S. Air Force veteran and longtime community development leader, Coleman knows the perseverance and commitment to service that it takes to make community-focused programs work for the people. "The District of Columbia is Groundswell's hometown, our team has seen it from all sides, and we're here to stand in the gap."The Justice40 Accelerator is a partnership project of the nonprofit organizations Groundswell, Elevate, the Partnership for Southern Equity, and The Solutions Project, with support from The Hummingbird Firm, drawing on decades of experience and a commitment to serving the needs of front-line organizations as these groups seek to access federal funding at this important time. The accelerator is independent of the federal government and of the Justice40 Initiative. "For ongoing guidance and support throughout the process of competing for federal funding, community organizations can team up with peer nonprofits involved in similar work so lessons can be shared in real time," said Nathaniel Smith, founder and chief equity officer of the Partnership for Southern Equity, which works for racial equity and shared prosperity in Atlanta and across the American South. "The Justice40 Accelerator aims to level the playing field – or at least tilt it in the right direction – so that front-line climate communities can access federal funding and take their place at the heart of a just transition to a clean energy economy. We hope dozens of organizations will join this initiative by participating in the accelerator and showcasing their incredible innovations for the various federal agencies looking to scale community climate solutions that work for everyone."The Biden/Harris administration's Justice40 Initiative isn't a new grant program with a clear application process. Rather, it is a target woven into existing programs across government, such as the American Jobs Plan, which includes energy, water, housing, and transportation and mass transit.
Many environmental justice and other community groups felt caught flat-footed in the face of the nation's last massive recovery program, 2009's American Recovery and Reinvestment Act (ARRA), which prioritized shovel-ready projects. "We are in a much stronger position as a movement now and have important lessons to put into practice," said Gloria Walton, who was working for a community-based organization when ARRA was passed. "In 2009, organizations, businesses, and state government agencies that routinely got federal funding already knew how to ramp up quickly, and they got most of the money. That left innovative and potentially transformative frontline climate projects out in the cold – and that can't happen this time around," said Walton. The Justice40 Accelerator is inviting front-line climate organizations and other community groups in environmental justice communities, most especially organizations led by Black, Indigenous, and other people of color to get the process started by signing up to learn more about the accelerator and attending informational webinars. Registration is at www.Justice40Accelerator.org, and additional information is available at www.thesolutionsproject.org. Elevate seeks to create a just and equitable world in which everyone has clean and affordable heat, power, and water in their homes and communities — no matter who they are or where they live. Our programs, policy agenda, and partners reflect this commitment.Groundswell builds community power to create equitable clean energy futures. A 501c3 nonprofit, Groundswell develops community solar projects and resilience hubs, helps neighbors to share power, reduces energy burdens with efficiency, and connects clean energy supply chains to local economic development - all informed by data science and pioneering research.
Partnership for Southern Equity advances policies and institutional actions that promote racial equity and shared prosperity for all in the growth of metropolitan Atlanta and the American South.The Hummingbird Firm is a community engagement consulting firm, specializing in face-to-face and digital engagement for public involvement, public participation, environmental communications, climate action, and cultural competency training. We specialize in outreach to underrepresented, underserved, and underrepresented communities.The Solutions Project is a national nonprofit organization that promotes climate justice through grantmaking and amplifying the stories of front-line community leaders in the media. The organization seeks to accelerate the transition to 100% clean energy and equitable access to healthy air, water, and soils by supporting climate justice organizations, especially those led by women of color.Media contact:Carina Danielscarina@storyandreach.com510-847-1617
View original content:https://www.prnewswire.com/news-releases/justice40-accelerator-will-serve-front-line-communities-applying-for-federal-funds-flowing-from-bidenharris-administrations-historic-40-climate-justice-commitment-301279330.htmlSOURCE The Solutions Project
NEW YORK, Nov. 3, 2020 /PRNewswire/ -- The impact of the US elections on commodities remains uncertain, in that a re-election of President Donald Trump would likely mean a continuation of easing regulatory constraints on the oil and natural gas industries, while a Joe Biden election victory would most likely increase regulation and encourage growth in renewables, according to the Platts Analytics US Election analysis released by S&P Global Platts ("Platts"), the leading independent provider of information and benchmark prices for the commodities and energy markets.
However, in the short term it will be the likelihood of stronger economic growth and a more positive outlook on global trade under a Biden administration that could lend support to energy prices. But under such a scenario, offsets could include the potential return to the negotiating table on the Iranian nuclear deal and growing humanitarian issues in Venezuela, with any early return of oil supply from either country weighing heavily on energy prices.
An Election win by either candidate points to large rollback of agriculture sector subsidies.
Political polls overwhelmingly tilt towards a Biden victory, along with Republicans losing their majority in the US Senate. In the US House of Representatives, the Democrats are expected to extend their majority by perhaps six seats. Despite the overwhelming poll data, S&P Global Platts Analytics still believes there remains a large degree of uncertainty regarding the outcomes. Below find a brief look at some of the implications of the outcome of the US Elections:
If a Trump Re-Election:
Under Trump we can expect a continuation of Trump's trademark style of one-off transactional diplomacy, treating allies and adversaries no differently, while Biden would look to heal relationships and strengthen trade partnerships. Significant progress has been made in the Phase 1 China-US trade deal despite the 2020 commitments not being met (with agricultural goods ramping up) in part amidst weaker prices. The shortfalls in purchases are expected to be rolled over into the 2021 commitments supporting energy and agricultural commodities.
Under Trump energy policy is likely to remain supportive of the energy industry, encouraging US exports and loosening regulatory constraints, while Biden will pursue Obama-era policies, with tighter regulation on pipeline, flaring and fracking especially on federal lands.
If a Biden Victory:
Under Biden we expect faster economic growth, higher employment, acceleration of inflation, a weaker dollar, and smaller deficit supported by the assumption of a greater degree of stimulus to support growth, less restrictive assumptions on immigration, stronger healthcare programs, and support for a higher minimum wage.
Tax policies and perceived subsidies to the energy industry could come under renewed scrutiny under Biden. Provisions such as the master limited partnership structure, depletion allowance, intangible drilling costs, and section 199 domestic manufacturing deduction could be reduced. Such actions, along with still weak energy prices for both oil, gas, and coal, would further hinder the recovery path for the energy industry.
Under Biden the renewables industry will see a more favorable environment and a return to the Paris Accord commitments, which will accelerate investment in solar wind and storage, impacting fossil fuel demand in thermal power generation.
SEE SIDE-BY-SIDE OUTLOOK COMPARISONS
US Foreign Policy – Energy impact
Likely to focus immediately on repairing relationships with allies and bringing them onboard on various foreign policy initiatives including Iran, Venezuela, China, and Russia. A return of Iranian barrels is more likely under Biden, although we do not expect a meaningful return before 2022.
Exports of LNG and crude will be pushed as a trade balancing mechanism in Asia and Europe.
Multilateral approach to trade and other global partnerships, with less friction with a host of key trading partners (Latin America, EU, China).
Subsidies and tax changes will be deployed to promote fossil fuel development; and
Regulatory focus will tighten and favor oil and gas majors over independents, given additional costs involved in limiting flaring and venting from both fields and pipelines.
Remaining federal incentives to promote renewables will be cut back or eliminated altogether.
Policy will shift towards additional deployments of renewables and batteries at the expense of fossil fuels in power generation.
The near-term impact on US oil and gas supply is largely limited regardless of election result, as significant permits and drilled but uncompleted wells, or DUCs, provide a cushion in the event of a ban on new federal drilling permits.
Drilling on federals lands will be reviewed along with current oil and gas tax provisions, with rollback of Obama-era methane regulations, or even the implementation of tighter regulations on existing, not just new, (stripper) wells.
A second Trump administration is likely to maintain the status quo in terms of oil and gas tax provisions, so as not to create further headwinds for an industry already struggling from weak commodity prices.
Near-term impact on US oil and gas supply is largely limited regardless of the election result, as significant permits and DUCs provide a cushion in the event of a ban on new federal drilling permits.
A return of Iranian barrels is not out of the realm of possibility but risks of missteps and tensions in the Middle East are heightened.
Increased underlying cost of US natural gas (and therefore raising the cost of US LNG) through a number of likely executive orders, which would be aimed at lowering methane emissions and banning new oil and gas leasing on public lands.
Reduced risks that federal regulations will start to assess full life-cycle costs, which would include upstream carbon emissions and methane leakage associated with new LNG export projects.
Risk of additional trade tensions with key Asian demand countries, namely China, which could impact ethane, LPG, ethylene and polyethylene trade.
Midstream sector investment moves toward CO2, H2, but construction would likely occur after the upcoming term. US ethylene cracker investment Wave 3 would be at risk.
Wave 3 of US ethylene units would likely proceed. Thus, anticipate no change to potential relaxation of regulations on single-use plastics and recycling.
Single-use plastics and recycling would move to the fore, with potential for more regulations on single-use plastics and encouraging of recycling.
Renewables & Climate
The opportunity to defend reversals of Obama policies in court.
Re-engagement with Paris Climate Accord. However, comprehensive climate proposals (including targeting decarbonized power sector by 2035) depend on US Senate makeup and the relative importance of other (non-energy) policy priorities.
Likely means imposed Section 201 tariffs on imported solar module tariffs in 2018, as well as work to extend and even increase the magnitude of those tariffs.
Work to reverse the Trump administration's rollback of Obama-era regulations (Congressional Review Act could give quick wins). The EPA would approve California waiver, allowing it to set tougher-than-federal clean air standards -- which other states can then follow to set vehicle policy.
Continued slow-walking of offshore wind permitting; potential use of CFIUS rules to block offshore wind deals involving foreign state-owned companies (Equinor, Orsted, etc.)
The extension of Wind Production Tax Credit and Solar Investment Tax Credit, continued support of CCUS-- which have historically been bipartisan.
About S&P Global PlattsAt S&P Global Platts, we provide the insights; you make better informed trading and business decisions with confidence. We're the leading independent provider of information and benchmark prices for the commodities and energy markets. Customers in over 150 countries look to our expertise in news, pricing and analytics to deliver greater transparency and efficiency to markets. S&P Global Platts coverage includes oil and gas, power, petrochemicals, metals, agriculture and shipping.
S&P Global Platts is a division of S&P Global (NYSE: SPGI), which provides essential intelligence for companies, governments and individuals to make decisions with confidence. For more information, visit https://spglobal.com/platts.
View original content to download multimedia:https://www.prnewswire.com/news-releases/what-us-election-outcome-means-to-energy-outlook-sp-global-platts-analytics-perspective-301165853.html
SOURCE S&P Global Platts
Artur Widak/NurPhoto via Getty Images