The action plan marks another step in PACENation’s multi-year effort to ensure that historically underserved and underrepresented communities are full participants in America’s clean energy future
PACENation, the national nonprofit association that works with state and local governments, community organizations, lenders, and small businesses to strengthen and expand access to Property Assessed Clean Energy (PACE), announced today the adoption of a comprehensive industry action plan to ensure that the PACE marketplace grows in a way that is diverse, equitable and inclusive. Twenty PACE industry leaders signed the plan, including representatives from both the commercial and residential PACE (C-PACE and R-PACE) sectors, as well as energy development managers, program administrators and public officials who facilitate or oversee PACE programs.
The full plan is available here: www.pacenation.org/dei-action-plan/
PACENation’s action plan builds upon an initiative launched in March 2019 with the support of over 150 leaders in the PACE community. These leaders worked together with PACENation and national experts to develop a set of actionable commitments that fall into four categories: Transparency and Accountability, Hiring and Organizational Leadership, Cultivating Future Leaders, and Strengthening PACE for All Communities.
“As the PACE marketplace continues to grow, we want to make sure it does so in a way that enables historically underserved and underrepresented communities to be full participants in our nation’s clean energy future,” said PACENation Executive Director Colin Bishopp. “That means access to capital for critical building upgrades, access to jobs and career advancement, and access to wealth creation opportunities for minority and women-owned businesses. We will be very intentional about making this happen.”
“PACE financing is already playing a central role in combating climate change and addressing energy injustice,” added Mariah Peake, the founder of a woman-owned Commercial PACE company, Ebee Management Group. “But there is so much more to do. I look forward to joining my colleagues across the industry to ensure that our companies and supply chain partners better reflect the communities we serve.”
To date, the Commercial PACE sector has facilitated over $2 billion in clean energy and resiliency investments and the Residential PACE sector has facilitated over $6 billion for similar investments in over a quarter million homes. Collectively, the PACE industry has created over 135,000 jobs in communities across the country.
“C-PACE financing is a key part of Philadelphia’s climate action plan because of its ability to accelerate the growth of a robust, equitable clean energy economy,” said Emily Schapira, President and CEO of the Philadelphia Energy Authority. “C-PACE has been a key resource for underserved communities here, leveling the playing field for access to capital and supporting critical building improvements. We’re proud to collaborate with the broader PACE community to support and implement this action plan.”
“Providing access to affordable financing is at the heart of PACE, which has become one of the most successful public-private innovations of the past decade,” said Jim Reinhart, CEO of Ygrene Energy Fund. “From reducing carbon emissions and conserving water to stimulating local economies, creating jobs, and protecting against the impacts of natural disasters, PACE is an essential tool to build healthier, more resilient communities. This action plan advances the primary hallmarks of PACE: equitable access and industry-leading consumer protections.”
PACENation provides resources and support to local governments, businesses, and nonprofit organizations that are committed to allowing American property owners to improve the efficiency and resiliency of their homes and businesses with assessment-based financing options like Property Assessed Clean Energy.
For more information on PACENation, visit www.pacenation.org.