Fireside Chat, Panel
Climate Resilient Infrastructure: A Conversation with Senator Ed Markey
- Senator Markey views the current moment as an "historic inflection point" where climate action offers opportunities to spur job growth and address environmental justice.
- The Civilian Climate Corps proposal aims to create 300,000 new civilian members equipped to build resilient infrastructure.
- Corps members would be deployed to deploy clean energy, protect forests, restore wetlands, and complete energy efficiency projects.
- The initiative targets underserved rural and urban communities to ensure equitable distribution of benefits across all Americans.
- Program participants would receive a living wage, educational benefits, health care coverage, and training pathways to union jobs.
- The Corps is designed to operate as a "whole of government" approach to amplify climate efforts across all federal agencies.
- The program is envisioned to be significantly larger in total personnel than the 1960s Peace Corps.
- Senator Markey identifies the "LIFT Act" as a critical mechanism to fund pre-development activities like capacity building, pre-permitting, and feasibility studies.
- The LIFT Act targets environmental justice regions to provide technical assistance and flexible funding to de-risk local projects.
- The legislation directs 50% of funds specifically to environmental justice communities.
- Economic modeling cited by Markey suggests every $1 spent via the LIFT Act generates $16 to $20 in economic benefits.
- Markey notes the Build Back Better bill is currently "one vote short" of passing, with a goal to reach the floor in the next couple of months.
- The Greenhouse Gas Reduction Fund, derived from Markey's National Climate Bank bill, would allocate $21 billion to non-profits for capital deployment.
- Approximately $8 billion (40%) of the Greenhouse Gas Reduction Fund is designated for low-income and disadvantaged communities.
- An additional $7.5 billion in grants would be directed to state, local, and tribal governments for rooftop solar and emission reduction activities.
- The Climate Bank model is designed to leverage $1 of public funding to generate $7 to $8 of additional private and public investment over a 10-year timeframe.
- The fund supports a wide range of eligible technologies including renewables, carbon capture, EV charging, and low-income housing retrofits.
- The objective is to reduce economy-wide emissions by 50% from 2005 levels by 2030.
- Markey proposes using Joe Manchin's expressed willingness to agree on climate provisions as the foundational basis for finalizing the Build Back Better agreement.
- The strategy involves resolving climate provisions first, then adding social provisions such as free pre-K and home care for seniors.
- Senate negotiations must account for procedural hurdles, including the Budget Reconciliation Act's "Byrd Bath" and parliamentary objections.
- Markey emphasizes the urgency of passing provisions before President Biden's State of the Union Address on January 1st.
- Markey characterizes the current legislative environment as lacking bipartisan support on climate issues, despite polling showing strong public backing.