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Giving Compass' Take:
• Matt Petersen, CEO of the Los Angeles Cleantech Incubator (LACI), explains how cities can help jumpstart cleantech sector innovation during COVID-19.
• COVID-19 is affecting jobs and services in the cleantech sector significantly. How can donors work locally to help fill gaps for the industry?
• Understand why climate tech is the new cleantech.
The recently passed $2 trillion stimulus package, signed by President Trump on March 27, will provide aid to individuals, cities, health care providers and companies across a number of sectors as they grapple with the unprecedented impacts of the new coronavirus. Yet there's one industry that won't see a penny in funding: cleantech.
Efforts to bolster investments in various cleantech sectors, including solar, wind, energy storage and transportation electrification, have been consistent in major U.S. cities over the last few years. As COVID-19 shuts down businesses and halts innovation, however, some leaders are worried the momentum behind cleantech will be lost when the outbreak ceases.
Matt Petersen, CEO of the Los Angeles Cleantech Incubator (LACI) and former chief sustainability officer for the City of Los Angeles, says the onus is on cities "to not only reduce humankind's vulnerability to coronavirus and flatten the curve of this pandemic, but also to restart the economy through startups and small businesses, put people back to work in our communities and help urban areas become more resilient." He said cities are on the front lines of both COVID-19 and climate crisis mitigation, and it's crucial to not lose sight of the latter during this pandemic.
Smart Cities Dive caught up with Petersen to learn how the coronavirus pandemic is impacting jobs and services in the cleantech sector, what he hopes for in the next federal stimulus package and how cities can support cleantech innovation amid a lack of direct federal support.
Read the full article about cleantech sector during COVID-19 by Kristin Musulin at Smart Cities Dive.