Washington, D.C. – In a significant announcement made this afternoon, the Vice President of the United States declared a groundbreaking $20 billion investment aimed at bolstering the clean energy economy and increasing access to capital. Speaking to an enthusiastic audience, the Vice President underscored the importance of community leaders and the positive impact of empowering local initiatives to benefit everyone.
“Our community leaders are the backbone of the progress we intend to make,” the Vice President said, citing the spirit of ambition and commitment shown by these individuals in various fields. “Everyone will benefit,” she added, advocating for a collective effort to understand and support community needs.
“This $20 billion investment will allow these eight nonprofits to fund tens of thousands of community-based climate projects,” the Vice President emphasized.
Addressing two pivotal issues—access to capital and the transition to a clean energy economy—the Vice President highlighted the administration’s commitment. The past investments, as noted, have made it possible to create jobs, provide financial support to small businesses, and lower energy bills for American families, thus marking the largest investment ever to tackle the climate crisis.
The Vice President shed light on the disparities in opportunities across communities, stressing that while talent and ingenuity are widespread, access to capital remains a hurdle for many. With this investment, the administration aims to bridge this gap, especially in underserved communities including rural areas and urban neighborhoods.
During her address, the Vice President also recognized the contributions of various state and community leaders, including Mayor Lyles of Charlotte and EPA Administrator Michael Regan, for their relentless support and leadership. Notably, she acknowledged Congresswoman Alma Adams’s dedication to North Carolina’s families and her role in co-founding the Black Maternal Health Caucus.
The new investment is tailored to fund tens of thousands of community-based climate projects through eight identified nonprofits. This novel approach is centered on empowering communities to choose projects that best serve their interests and needs, marking a departure from top-down directives.
“Imagine what this means for the young entrepreneur or the small-business owner,” the Vice President posited, outlining scenarios where easy access to capital could transform local economies and individual lives.
The Vice President’s visit to Grier Heights, a historically Black neighborhood in Charlotte, served as a prime example of how investments in energy efficiency can dramatically reduce living costs and foster economic savings for families.
With a stream of anecdotes and envisioned futures, the Vice President’s speech was a rallying call for action and optimism, marking a significant step towards a cleaner, healthier, and more equitable America.
“When we invest in climate, we create jobs, we lower costs, and we invest in families,” the Vice President concluded, evoking a vision of a sustainable and inclusive future for all Americans.
For more information on how to get involved and support the Biden administration’s Clean Energy initiatives, the White House encourages public engagement and offers updated information on its efforts to “build back better.”
Stay tuned for further updates from the administration on these and other initiatives aimed at enhancing the welfare of the American people.