It is no secret: fossil fuels are bad for the environment. Just about every day there is a new study confirming the link between carbon emissions and dangerous global climate change. Many environmentalists have taken the step of putting their money where their mouth is and are pulling out from their fossil fuel investments. In fact, economists are predicting a collapse in the fossil fuel sector in the very near future, when traditional energy companies find themselves without the capital they enjoyed previously. But, as an investor you still want to earn, so where to put your money? Meet BlocPower.
BlocPower is a dynamic, new, lending marketplace that will connect the environmental investor with inner city projects that require capital to upgrade to become energy efficient. There is an added bonus: not only will your investment dollars help to green up the inner city, but it will also provide jobs and reduce crime.
Founder Donnel Baird was inspired by his childhood growing up in an inner city neighborhood of Brooklyn, New York. Two things stuck in his mind: crime and energy waste. Baird managed to get out of the projects, but his educational track was shaped by a commitment to address both of these deficiencies. He made two important observations: inner-city buildings are serious abusers of energy, and the majority of young people involved in crime would be happy to have a job. Baird also began to have conversations with religious leaders who were anxious to incorporate green technologies in their buildings if for no other reason than to reduce their utility bills. But, these improvement projects required serious cash, and banks were not interested. BlocPower was born.
BlocPower will soon launch an online investment platform that will connect environmentally conscious investors with a menu of energy efficiency improvement projects in underserved communities across the country. Eligible buildings will include residential units, small businesses, nonprofits and religious buildings. Investors will reap the rewards, literally, of the savings that will result from installing green technologies, retrofitting buildings and building solar power plants in distressed communities.
Kudos to Donnel Baird and the BlocPower team. This is a win-win project for everyone: the global community, inner-city neighborhoods and investors. Look for BlocPower to be online any day now.