Inflation Reduction Act of 2022; A new hope for Black communities that have been divided, deprived, and denied opportunities to accumulate wealth

EPISODE SUMMARY

The Inflation Reduction Act of 2022: A new hope for Black communities that have been divided, deprived, and denied opportunities to accumulate wealth.

In this episode, the hosts discuss various policies and practices which have adversely affected Black communities and hindered the ability to build wealth. Also in the podcast are reasons why provisions in the Inflation Reduction Act of 2022 can help begin the process of repairing some of the damage by fostering a community-based approach to environmental issues. Finally, Jamil tells the audience about the new company he founded with his brother, Jelani, Unified Ground.

A FEW KEY TAKEAWAYS FROM THIS EPISODE

• Historically, wealth has systematically been removed from black communities.
• Often that wealth was removed in ways that left communities in less desirable land leading to climate change disproportionately affecting people of color.
• It’s a great time to form partnerships that have the same goal of saving the planet and hopefully The Inflation Reduction Act of 2022 will be a big step for focusing on that goal. 
• Unified Ground’s goal is to enable these partnerships. Its mission is to build technology to connect existing organizations and businesses to Environmental, Social, and Governance (ESG) investments, with the goal to reduce the income and wealth gap and lift up communities of color.

MORE ABOUT UNIFIED GROUND

Vision

Our vision is to close the income and wealth gap in vulnerable communities because a sustainable planet is not possible without an equitable society.

Climate change disproportionately affects vulnerable, low-income as well as Black, Latino, and Indigenous communities. We believe that strengthening the resource networks of these communities is an integral part of creating a sustainable planet. If communities can hold onto more resources, they will better address current climate emergencies and make sustainable choices.

Mission

We are building the technology to connect existing networks of community organizations and businesses to Environmental, Social, and Governance (ESG) investments,

with the goal to reduce the income and wealth gap and lift up communities of color.

Problem

Demand for ESG investments, already a rapidly growing requirement for business, will increase as the markets make it a requirement for publicly traded companies. Social Impact funds have a continual need to find verifiably impactful community-based investments. Some states and municipalities across the US have aggressive goals to reduce carbon emissions. We can only achieve these goals with successful investments in vulnerable communities and communities of color. Historically, these customers have had trouble engaging successfully with communities and local vendors.  

Why The Time is Now

1. Climate Disasters are upon us – We are in the midst of another record season of fires, flood, drought, and hurricanes in the US.
2. Climate Impact will be a business requirement – The 2022 IRA represents landmark climate legislation in the US.  The SEC will have public companies report on their environmental impact starting with 2023. In addition to 2022 IRA, many states and cities are moving forward with aggressive climate policies
3. Business Stakeholders are putting the pressure on – Corporate boards and internal stakeholders are demanding goals and verifiable impact results.  Employees want to know their companies are not just committed to their climate and community impact goals, but making them a reality.

Solution

Unified Ground provides the services and technology platform to connect Environmental, Social, and Government investors with a network of community-based vendors and climate justice organizations. The 2022 Inflation Reduction Act (IRA) will be a catalyst for Climate Technology and Environmental Justice.

For more on Unified Ground check out our website

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