Today the National Association of Corporate Directors/New England and the Massachusetts Business Roundtable presented a panel program about making Massachusetts the leader in hosting businesses that support climate sustainability.  Globe business reporter Jon Chesto chaired the meeting. The accepted assumption was that climate change must be addressed by society.

Yvonne Hao, Secretary of the Commonwealth’s Office of Economic Development, maintained that Massachusetts is ideal for technological leadership, as our universities and business community can invent requisite technology.  Further, the Governor has proposed a billion dollar budget (part of a legally required  Four Year Economic Plan) to foster “climate tech” businesses with headquarters and production facilities all across Massachusetts.  She expects legislative action before the end of the July 31 term.  Her “pitch” also focused on the availability of investment capital in Massachusetts and the desire to echo Massachusetts’ eminence in med-tech (while also retaining production facilities here in the Commonwealth, which med-tech has not been able fully to achieve).

Lisa Wieland, President of National Grid New England and one of the two major utilities in attendance (Eversource also was represented), stated that Grid was exploring non-carbon energy solutions through hydro, wind and electrification, use of batteries, reducing carbon from sources which can be managed (lowering carbon from cattle, use of faux-leather), and applying A-I to analyze areas prone to negative effects of climate such as flooding.  Grid also is now working with 32 companies to explore cost and mechanics of alternative energy businesses and uses.  Also anticipated is a $2B new clean energy plant.

Kathleen Connors, President of Voltrek, explained the work of her company in installing devices to charge electric vehicles, with focus on companies electrifying fleets and parking facilities for employees.  She discussed the economic impossibility of wiring all parking spaces at scale due to cost and disruption, predicting something akin to “gas station” settings for bulk charging for non-industrial users.

In order to achieve a Massachusetts industrial base in climate-tech, including retaining a workforce of numerous skills, several problems must be addressed: legislative approval of $1B of tax credits (stated to have great ROI, so the audience was asked to call your State senators or reps) and addressing housing cost, child care and transportation issues. The Commonwealth’s Four Year Economic Plan contains task forces to address all of these.

Take-aways offered for corporate board members in the audience were straightforward: be imaginative, be flexible to embrace solutions, recognize that Massachusetts has great advantages for siting companies and facilities (including the best intellectual and political climates) to establish a new climate tech industrial center; and, that the business analysis in the long run should not turn on present tax rates but on overall opportunity.