A Win for Climate Policy and Diversity
The U.S. presidential election was historically significant in a number of aspects, with notable wins for climate policy and diversity. Climate change mitigation policies have been a cornerstone of the Biden-Harris campaign. The Biden Plan sets out detailed goals for climate action and commits to investing $2 trillion into a number of climate initiatives that ultimately culminate in a zero net emissions target for 2050. The plan also outlines specific commitments to investments in clean infrastructure including:
Transforming the power sector to be carbon pollution free by 2035
Upgrading four million buildings to be more energy efficient and weatherizing two million homes over four years
Providing all Americans in municipalities of more than 100,000 people with quality public transportation by 2030 and building only zero-emissions buses by 2030
Supporting the transition to EVs through infrastructure investments, including 500,000 electric vehicle charging stations and investments in battery technology
These represent meaningful commitments for our neighbour to the south and exciting opportunities for several of our portfolio companies. With the Biden Plan, experts predict that the goal of limiting global warming to 1.5 degrees Celsius set out in the Paris Climate Accord will finally be “within striking distance”. We have a long way to go, but the result of this election demonstrates that climate policy and the fight against climate change are important issues to a growing number of voters.
The U.S. election was also a milestone for diversity in politics. Kamala Harris is the first female, first Black and first Asian American Vice President elect. A record number of women will be serving in the next congress and a number of states have elected their first gender and ethnically diverse representatives. While this election was only one step towards equal representation in political institutions, we are excited to see that the members of political bodies are starting to resemble the constituents they are serving more and more. As a B Corp we celebrate diversity and always look to support women and people of colour in their entrepreneurial journeys. As Kamala Harris once said: “Our unity is our strength, our diversity is our power.”