Dear Members, Partners, and Friends of Greentown Labs,
I write today in response to the news President Trump shared yesterday; the United States will withdraw from the Paris Climate Agreement.
The President was clear: this decision was largely based on a belief that other countries would gain a financial advantage over the United States rather than science-based guidance about our country’s commitment to climate.
We know this belief is misinformed. We know because of the remarkable job growth in the renewable and clean energy sectors in recent years. In fact, according to the International Renewable Energy Agency, the U.S. renewable energy sector is adding workers almost 17 times as fast as the overall economy—a figure that cannot go unrecognized nor uncelebrated.
At Greentown Labs, we’re proud to contribute to the growth of these markets and of the impact our community is making on our country—not just on our clean energy future but also on our economy. Since our founding in 2011, Greentown Labs has supported more than 120 companies that have collectively created more than 900 jobs and have raised more than $220M to support the growth of their businesses, and their visions. They’re inventing new technologies to clean the environment, developing new markets, driving job creation and fundamentally serving as an undercurrent for economic development across Massachusetts, New England, and the country.
While the lack of climate leadership at the federal level is disappointing, we remain optimistic because of the enormous impact cities, states, and global corporations can make through their own sustainability and energy initiatives.
We applaud Massachusetts Governor Charlie Baker, Boston Mayor Marty Walsh and the Commonwealth’s leadership in working to exceed the goals of the Paris Agreement at a state level. The Greentown Labs community has benefitted from the progressive energy policies set forth in Massachusetts which has led to an incredibly strong regional cleantech ecosystem, one that was recently ranked third strongest in the country according to the Brookings Institute.
What’s more, Greentown Labs is located in Somerville, MA, and we’re lucky to call this small city our home. Led by Somerville Mayor Joseph Curtatone, Somerville has committed to becoming carbon neutral by 2050; we aim to have our new Global Center for Cleantech Innovation help in this effort.
City and state leadership is underway across the country and we tip our hats, send high fives, and cheer from the East Coast for the many forward-thinking mayors, governors and other elected officials who are taking the reigns and committing their communities to act on climate. While President Trump was pulling the United States out of the Paris Accord, the California legislature was committing to receiving 100 percent of its power from renewable energy by 2045. Amazing! And Pittsburgh Mayor Bill Peduto has made a promise that he will lead his city’s efforts to follow the guidelines of the Paris Agreement, acknowledging that it’s important to the Steel City’s people, economy, and future.
Beyond the essential work happening at the city and state level, we have many global partners to thank for their leadership and commitment to addressing climate change. That’s why more than 1,100 companies signed a statement expressing their support of the Paris Agreement, encouraging President Trump and Congress to keep the United States in the Agreement. We’re honored to have strong partnerships with many of these companies including Autodesk, CEVG, GE, and Royal DSM, to name a few.
We recognize the climate crisis is a global problem which is why we’re doubling down on our international partnership efforts to ensure our entrepreneurs have what they need to reach new markets and make a global impact. And inversely, we’re eager to support more clean energy entrepreneurs from around the world as they enter the U.S. market so if you know anyone who’s in need of support, please point them our way.
Leaving the Paris Accord was not a wise decision for America or the world but we’ve come too far to back down now. Our entrepreneurs remain committed to solving the world’s biggest energy and environmental challenges and our country’s withdrawal from the Agreement isn’t going to affect their determination. Market forces are behind us, the clean energy economy is within our grasp, and future generations deserve our best efforts to reduce carbon emissions and bring clean energy to every corner of the globe.
Keep fighting the good fight, we’ll be right there alongside you,
Emily and the Greentown Labs team
