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Op-Ed: Miami’s economic future depends on doing these three things well

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Introduction

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Overview: Why addressing climate change presents a historic business opportunity

Miami has a once-in-a-lifetime opportunity to become a hub for the companies and jobs of the future: green jobs, blue jobs, and other resilience-related jobs that we haven’t even imagined yet.

Featured Sources

Bill Gates

Bill Gates

Breakthrough Energy

Alex Harris

Alex Harris

Miami Herald

Michael Bloomberg

Michael Bloomberg

UN Race to Zero

Saleemul Huq

Saleemul Huq

UN Race to Zero

Agnes Kalibata

Agnes Kalibata

UN Race to Zero

… and 13 organizations

Why it matters

United Nations

United Nations

The Economist

The Economist

The Brookings Institution

The Brookings Institution

Bill Gates

Bill Gates

Breakthrough Energy

 As the world transitions to a net zero economy, climate-focused business will result in countless new industries, businesses and jobs ,

  • Several countries, including the United States, have pledged to achieve carbon neutrality by 2050, that date scientists have identified as the time when the planet must reach net zero — or warm to dangerously high levels.
     

  • Carbon neutrality will drive trillions in investment into clean tech and sustainable businesses, which are already seeing market demand. Venture capital investments in climate tech this year may reach $60 billion, up from $36 billion a year ago. It’s flowing into ideas such as electric airliners, carbon capture devices, and actuarial software that models climate risk to real estate. 

  • The transition to green jobs presents the opportunity for greater social mobility, as many so-called “green collar” jobs pay well but don’t require a college degree.

  • In his most recent book, Bill Gates predicts that the places “that build great zero-carbon companies and industries will be the ones that lead the global economy in the coming decade.” Miami can be one of these places.

Where we are now

City of Miami

City of Miami

Miami Dade County

Miami Dade County

City of Miami Beach

City of Miami Beach

Alex Harris

Alex Harris

Miami Herald

The Miami Herald

The Miami Herald

Seaworthy Collective

Seaworthy Collective

Starlight Ventures

Starlight Ventures

Mission One Capital

Mission One Capital

South Florida community leaders are pledging to achieve carbon neutrality. 

  • This year, Miami-Dade County, the City of Miami, and the City of Miami Beach all made commitments to achieve carbon neutrality by 2050. 

  • In April, Miami-Dade Public Schools, the fourth largest school district in the U.S., pledged to switch to 100 percent clean energy by 2030.

  • Climate tech efforts in Miami are nascent but underway. Seaworthy Collective, founded in 2020, is supporting entrepreneurs focused on the oceans and blue economy. Starlight Ventures, based in Miami, is a $50 million venture firm focused on solving humanity’s greatest challenges, including achieving net zero. Mission One Capital, a new Miami-based venture focused on sustainability, recently launched in Miami.  


By the numbers

City of Miami

City of Miami

The pandemic has highlighted the strength of "green jobs" — jobs that move companies and our community toward sustainability. The growth of green jobs, especially compared to the change in available jobs in traditional industries, underscores that green jobs will lay the groundwork for the future.

Research

Urban Land Institute

Urban Land Institute

100 Resilient Cities

100 Resilient Cities

City of Miami

City of Miami

Miami Dade County

Miami Dade County

What's next?

At Opportunity Miami, we’re focused on exploring — with you — answers to questions defining Miami’s economic future. This is a work in progress. Each day we’ll add new elements through an iterative, build-it-together process to find clear, actionable solutions. 

But it starts with asking the right questions. Below are some we’re thinking about. We plan to take a deep dive into a new question each month. 

  • How do we make Miami a place where great climate tech companies are built?

  • How do we achieve carbon-free mobility and drive economic growth?

  • How can Miami make itself a “blue economy” leader?

  • How do we turn real estate development green in Miami and create new jobs?

  • What does climate gentrification look like in Miami, and what policies can prevent it?

We’d also love to hear what’s on your mind. Let us know by sending a note to next@opportunity.miami



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