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MANAGEMENT UPDATE.

HELP WANTED TO BATTLE CLIMATE CHANGE

On May 15, Maura Healey the Governor of Massachusetts announced the launch of a new effort to help people access high-quality training programs that prepare them for jobs in fast growing fields that are related to the climate including heating, ventilation, air conditioning and a variety of other fields. 


The announcement was made in a keynote address the governor gave at the Vatican Climate Summit. According to the Boston Globe, Pope Francis “is the first pope to elevate climate change as a top concern, making a moral call to Catholics worldwide to reduce emissions for the sake of future generations.”


As the governor said, “The heroes of the clean energy revolution are the train operators, farmers, electricians, heat pump installers, wind turbine technicians – the workers who make all of this possible. We need people who are skilled and ready to fill these jobs. That’s why we’re proud to announce the Climate Careers Fund, a first-of-its-kind social impact fund to support workforce training in this critical sector.”  


The Massachusetts program is currently in its pilot stage of raising the $10 million goal for the fund. If it’s successful, it could become a national model for other states, that are attempting to reduce greenhouse gas emissions, but face a shortage of skilled workers. In Massachusetts, for example, it’s estimated that the commonwealth will require training some 34,000 workers for climate sector jobs by 2030. 


The object of the fund will be to provide no-cost loans to help students engage in training programs for jobs as refrigeration technicians, electricians, energy auditors, and electric vehicle mechanics.


Beyond that, it will provide resources necessary for people – especially low-income residents – with childcare and transportation.


According to a press release about the launch, the initiative will bring together “public, private and nonprofit partners including the Executive Offices of Economic Development, Education, Energy and Environmental Affairs, Labor and Workforce Development, the Office of Climate Innovation and Resilience, Commonwealth Corporation, and the Massachusetts Clean Energy Center.


Social Finance, a national nonprofit and registered investment advisor headquartered in Boston, is leading the design and will manage the Fund for impact over time.” Social Finance will be raising matching funds to supplement dollars provided by the state. 


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