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Featured

ESG Boycott Legislation in States: Municipal Bond Market Impact

January 12, 2023 by Mike Daly

In more than a dozen states across the country, state legislatures have either passed or have pending bills based on a piece of model legislation developed by the American Legislative Exchange Council known as the “Energy Discrimination Elimination Act.” These bills would essentially pull state funds from investment managers if they are deemed by government officials to be adverse to the oil and gas and coal industries in their investment strategies. Some of the same states – in addition to many others – are considering bills that would similarly punish or blacklist financial firms for including having strong Environmental, Social, and Governance (ESG) standards in their investment strategies.

The legislation has been accompanied by actions at other levels of government, including state executive actions by treasurers and governors, legal action by state attorneys general, and even the threat of federal action in the next Congress. At the tip of the spear of the state efforts to pressure financial institutions away from assessing and acting upon the financial risks of such issues as climate change, gun violence, and workers’ rights is the threat of pulling state funds from their asset managers.

Among many key unknowns associated with these legislative and executive actions are impacts to the residents and taxpayers of the states where they become law. Setting aside the implications of politics interfering in financial decisions, there is the question of how removing major, proven financial companies from the marketplace will affect competition. Restrictions on financial market participants, (and in this analysis we look at large investment banks), alter the outcomes of municipal bond market transactions and modify contractual engagements with state governments. It is therefore of tremendous importance that policymakers, business leaders, and the public have the tools to estimate and anticipate these impacts.

Filed Under: Report Tagged With: ESG, Florida, Kentucky, Louisiana, Melling, Missouri, Mullin, Municipal Bond Market, Oklahoma, West Virginia

2022 Year in Review

December 9, 2022 by Mike Daly

2022 was a milestone year for ESI and we are thrilled to spotlight some of our work that was completed, as well as highlight our ongoing thought leadership efforts being built out of ESI Center for the Future of Cities. We look forward to continuing to provide the same level of excellence to our clients in the new year!

Filed Under: Blog Post, News and Events Tagged With: Year in Review

Top Ten Present Value Posts from 2022

December 2, 2022 by Mike Daly

As we draw near to the end of 2022, we recap at our highest viewed Present Value articles from this year. As part of this, ESI would like to give special thanks to all of our staff, interns, senior advisors, clients, and colleagues that contributed to Present Value in 2022. We look forward to providing even more thought provoking content in 2023!

Who will take the top spot as our most viewed blog post of the year? Scroll down to find out.

10. Cities of the Future Must Be Heat Resilient: A Framework for Combating Urban Heat Islands by Kendra Hills
Kendra Hills examines “urban heat islands” as cities face rising temperatures. She explores causes, impacts, and provides a framework for heat resiliency that could be beneficial for all.

 

9. Adaptive Reuse – Moving Forward in a Post-Pandemic World by Peter A. Angelides and Salvatore Gullotta
Dr. Peter Angelides and Salvatore Gullotta examine adaptive reuse and how, if done correctly, it can be a fantastic opportunity for giving new life to structures and cities.

 

8. Expert Views: Developing an Equitable Growth Strategy for Cities by Lee Huang and Frank Robinson

Lee Huang and Frank Robinson discuss what it takes for communities to address persistent economic inequities in a competitive, fast-moving, and uncertain global economy with members of the firm’s senior advisory board whose work focuses on equity and inclusion.

 

7. The Future of Cities Requires Refining What it Means to be a Smart City by Steve Wray
Steve Wray calls for a refining of what it means to be a ‘smart city’ while highlighting key objectives of the newly launched ESI Center for the Future of Cities.

 

6. Prioritizing Equity in EV Infrastructure Planning with Data by Kendra Hills
Kendra Hills examines the extraordinary potential of EV infrastructure, as well as some of the drawbacks. She postulates that, through the use of data and powerful analytical tools, EVs can become more effective, accessible, and equitable.

 

5. Unlocking Potential Economic Benefits for Low-Income EV Consumers by Kendra Hills and Frank Robinson
Frank Robinson and Kendra Hills highlight the unlocked potential of electric vehicles, along with the current pitfalls preventing the industry from being truly equitable and accessible for all.

 

4. ESI’s Favorite Places to Eat by Salvatore Gullotta
Salvatore Gullotta takes a look at the firm’s favorite places to eat around Philadelphia.

 

3. Using Public Libraries as a Framework for Smart Cities by Kendra Hills
Kendra Hills reviews the role of public libraries as innovation hubs and examines how they will continue to be integral sources of connectivity serving entrepreneurial ecosystems as communities make progress in establishing smart city initiatives.

 

2. Sustainability is the Greatest Challenge of All and Here is Why by Rob Fleming
Rob Fleming takes a critical look at sustainability efforts to date and demonstrates how empathy can create long-term change on a global scale to achieve an authentically sustainable future.

 

1.  Addressing Systemic Inequalities to Foster Equitable Growth by Michael Pearson
Michael Pearson examines how systemic discrimination and inequities can be addressed to advance equitable growth. He explores three key priorities that aim to address social determinates that perpetuate the historic gap in economic equality.

 

Filed Under: Blog Post Tagged With: Angelides, Center for the Future of Cities, electric vehicles, equity, equity and inclusion, fleming, Gullotta, Hills-Kendra, Huang-Lee, Pearson, Robinson-Frank, smart cities, smart city, sustainability, Wray

Thanksgiving 2022 Light Read

November 24, 2022 by Mike Daly

For this week’s Present Value post, we gave thanks! Please enjoy this list of interesting reads, fun activities, and ways to support charitable causes this holiday season.

On behalf of the entire ESI team, we hope you have a happy Thanksgiving.

The latest from Present Value

SEPTA Key Advantage Update: Institutional Pass Program Expansion – Tiffany Hudson

The Future of Sustainability at Universities – Lee Huang

Smart Water Management and the Future of Cities with Dr. Allison Lassiter – Kendra Hills

Unlocking Potential Economic Benefits for Low-Income EV Consumers – Kendra Hills and Frank Robinson

Adaptive Reuse – Moving Forward in a Post-Pandemic World – Peter A. Angelides

Recently Completed Projects

Catalyst for Change: The Future of Cities

The State of Cell and Gene Therapy in the Greater Philadelphia Region

Financing Green Infrastructure: Lessons from the Chesapeake Bay Watershed

Thanksgiving Reading List

The Movement to Keep Buildings from Making You Sick

The Productive Power of Urban ‘Activity Centers’

How New York Suburbs are Tackling the Housing Crisis

Comcast Looks to its Technology Center in Philadelphia to Power its Future

Main Line College’s New President Looks to Grow Enrollment 25%, Add New Programs

Food Rescue Organizations Mount a Simultaneous, People-powered Assault on Two Persistent Problems

Ways to Celebrate

Activities, Shopping, and Dining

Check out this list of 29 things to do in Philly during Thanksgiving week, courtesy of Visit Philadelphia

Find a new favorite restaurant with this list of 40 new and soon-to-open restaurants the Inquirer has assembled

Discover your new favorite retailer this Small Business Saturday

Charitable Causes

Consider joining the Giving Tuesday movement or become a Kiva lender and support a worthy cause you are passionate about

Make an in-kind donation to Bethesda Project, People’s Emergency Center, Why Not Prosper, or the Philadelphia Foundation

Volunteer your time with Philly House, Mighty Writers, or Philadelphia Animal Welfare Society (PAWS)

Support the Veterans Multi-Service Center, or Esperanza, Project HOME, or Prevention Point

Filed Under: Blog Post Tagged With: light read, Light Reads, Thanksgiving

The Current State of EV Policy in the United States

November 18, 2022 by Mike Daly

Cities and states across America are beginning to take more strides toward fully adopting electric vehicles (EVs) and integrating them into the fabric of their road and urban infrastructure. The benefits of making the switch from internal combustion engines (ICE) to EVs are growing and well documented, and their popularity has also grown significantly in the past few years. States are hoping that with regional consensus, cities will be cleaner, greener, and quieter with widespread EV adoption. This has proven challenging for American cities, and there have been significant barriers to preventing EVs from gaining a large market share. We have outlined these barriers in a previous article titled, Prioritizing Equity in EV Infrastructure Planning with Data, but they can be summarized as the following:

  • EVs are generally still more expensive than traditional ICEs
  • Lack of charging stations and charging infrastructure
  • Lack of EV knowledge, exposure, & visibility
  • Limited EV financial incentives
  • EV model availability

Addressing these barriers will need effective, comprehensive, and long-term policy and strategic planning for cities to reach electrification and emission targets. Municipalities both small and large will need to look to their states for not only guidance on EV policy, but also as a partner to voice their specific needs to. Adapting state policies to different levels of government – local, regional, and federal will be key for widespread EV adoption and will also be the most challenging.

How can cites be sure they are implementing the most effective EV policies? Here are some popular policy recommendations and case studies that have been effective across different states.

Zero Emission Vehicle Mandate

Some governments leading mass EV adoption have implemented aggressive electrification goals with the intent of adopting a 100% electric share between 2025-2050, with zero emission mandates. Zero emission vehicle (ZEV) regulations have accelerated the rate of EV adoption on a regional scale within states like California, and have had immense success in in achieving lofty goals of reducing greenhouse gas. In the United States, ZEV mandates are issued at the state level, and California has been a state leader ever since their first ZEV mandate in 1990. One of the key features of California’s mandate is its requirements of manufacturers to meet rather strict ZEV percentage credits. The mandate also requires auto manufacturers to produce an increasing number of ZEVs each year beginning in 2026. The mandate also takes measures to ensure that consumers are buying ZEVs that are sustainable and have longevity with enhanced durability and warranty requirements. By 2030, California expects vehicles to maintain at least 80% of electric range for 10 years or 150,000 miles. Although California has some of the stricter EV and ZEV policies in the nation, the direct intention with future-proofing mobility innovation, and building direct relationships with manufacturers and technology providers is a lesson that could be adopted in other states across the country.

Flexible, Long-term EV Financial Incentives

Ensuring that citizens can afford EVs is critical. Tax benefits, incentives, and rebates have been successful ways for states to promote the use and ownership of EVs. 45 states and the District of Columbia all provide some sort of incentive. Increasingly, states are amending their policies to include additional provisions for low income and disadvantaged communities.

Virginia recently passed an EV rebate program that applies to new and used EVs. As EVs begin to take up a larger portion of the market, expanding access to used vehicles also expands EV access to a significant number of Americans. This rebate program allows for a $2,500 rebate at the time of purchase for both buyers and leasers, with an additional $2,000 rebate toward either a new EV, or $500 towards a used EV for low-income customers.

EV-Cross Collaborations

Collaborative EV efforts across state lines will be a critical strategy in transportation electrification, and states have been leading the way in creating integrated policies to ensure a more robust buildout of charging infrastructure across major highways.

The Regional Electric Vehicle Midwest Coalition (REV Midwest) has made bipartisan efforts to involve governors and decision makers from Illinois, Michigan, Indiana, Minnesota, and Wisconsin to develop a new regional charging infrastructure network. The REV Midwest sets out to accomplish three goals: Accelerate medium and heavy-duty fleet electrification, elevate economic growth and industry leadership, and advance equity and environmental goals. Additionally, increasing the number of charging stations is one of the main goals of REV Midwest, as they hope to boost potential consumers’ confidence and ease the range anxiety that comes with not knowing if charging is available outside of private at-home chargers. This multi-state collaboration leverages increased public and private interest/funding for EV infrastructure and allows states to share ideas and opportunities surrounding EV implementation. More state collaboration can make room for taking bigger risks with EV infrastructure and finding innovative partners to get the job done.

Local partnerships are just as important as multi-state partnerships, and San Francisco has been a leading example in this, creating the Electric Vehicle Working Group. This group aims to identify key policies and partners to aid EV growth within the city. The group is comprised of 15 representatives from city departments and agencies, along with stakeholders from regional and state agencies, as well as industry and non-profit organizations.

These are just some ways cities and states can prioritize equitable widespread electrification. Policies that are both strict enough to reach target greenhouse reduction goals, but also flexible enough to change with the needs of consumers will be important for cities and states to transition to a more sustainable future.

 

Kendra Hills, Intern | hills@econsultsolutions.com

Kendra Hills is an intern at Econsult Solutions supporting ESI’s Center for the Future of Cities. She is currently a Master’s student at the University of Pennsylvania, studying city & regional planning with a concentration in smart cities.

Filed Under: Blog Post Tagged With: electric vehicles, EV, Hills-Kendra, public policy

Econsult Solutions is Pleased to Welcome its Newest Staff Members

November 10, 2022 by Grace Hanoian

“We are excited to introduce 10 new staff members to ESI! From analyst to director, these friendly faces help increase our capacity to take on new projects and serve our client base well. I encourage you to click on the photos and learn more about each of our new hires.”
– Lee Huang, President & Principal

Elizabeth Dobbins is a Senior Analyst. Ms. Dobbins graduated from Oberlin College with a B.A. in English and the University of Pennsylvania with a Master of City Planning, concentrating in Housing, Community and Economic Development.

Lucie Doran is an Analyst. Ms. Doran graduated from Drexel University with a B.S. in Mathematics and B.S. in Economics. Lucie brings experience with econometric modeling and a passion for sustainable development.

Grace Hanoian is a Business Development and Marketing Associate. Ms. Hanoian graduated from the University of Delaware with a B.A. in Communications and Political Science. At ESI, she assists with proposals, events, and social media.

Justin Hill is an Analyst. He graduated from Columbia University with a B.S. in Political Science and has experience in data visualization and management. Mr. Hill is interested in real estate, sustainable development, and socio- and geo-politics.

Hyojin Lee is an Analyst. Ms. Lee received her dual Master of City and Regional Planning and Public Policy from Rutgers University in 2022, and a B.A. in Architectural Conservation from the University in Hong Kong in 2018.

Maria Machin is an Analyst. Ms. Machin is a recent graduate of the University of Pennsylvania Master of City Planning program, with a concentration in public and private development. She brings to this position a history of project management and architecture.

Trevor Marimbire is an Analyst. Mr. Marimbire graduated from Earlham College with a B.S. in Economics. Trevor’s expertise and passions lie in the areas of economic development, public policy, and social impact.

Sarah Melling is an Analyst. Ms. Melling received her B.S. in Mathematics and Economics from Oregon State University. She has also worked as a research assistant for Oregon State University’s Economic Department.

Joseph Shortell is an Analyst. Mr. Shortell received a B.A. in Theoretical Economics from Trinity University in 2020, and a M.Sc. in Applied Economics from the University of Barcelona in 2022.

Sam Sklar is a Director. Mr. Sklar previously worked as a senior urban planning analyst with Localize.city where he led the expansion of their web-based real estate marketplace into 22 municipalities. He received a B.S. in Finance from Boston University, and a Master of City Planning from the University of Pennsylvania, with a concentration in sustainable infrastructure and transportation planning. Mr. Sklar excels in project management, and problem identification, having a deep focus on building equitable and dignified solutions to locally developed problems.

Filed Under: News and Events Tagged With: Dobbins, Doran, esi staff, Hanoian, Hill, Lee-Hyojin, Manchin, Marimbire, Melling, Shortell, Sklar

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