SVA/Heartland at the White House
On April 4, 2023, Tom Croft, SVA Executive Director and Heartland Capital Network (HCS) Managing Director, was honored to join Biden-Harris Administration officials and other federal partners at the White House to celebrate 2 years of work by Energy Communities Interagency Working Group (IWG), supporting economic transition in America's energy communities.
The event included several leaders including Treasury Secretary Janet Yellen, DOE Secretary Jennifer Granholm, White House officials John Podesta and Ali Veri, and others. Also in attendance were national and regional advocates who have fought for decades to bring back the blue-collar communities that have been left behind. Discussion during the event included the barriers and challenges energy communities are facing as they look to take advantage of the enormous opportunities provided by the Inflation Reduction Act (IRA) and Bipartisan Infrastructure Bill (BIL). Regional partners standing behind the initiative included unions, environmental leaders, investors, developers, utilities, civil society, and government to make sure a transition to a clean economy truly lifts all boats.
As part of an investment panel, Tom shared the story of the Heartland Capital Network, a national network of responsible pension consultants, asset managers, unions, and policy leaders advising on or managing $1.5 trillion in assets. Heartland was established in 1995 by the Steelworkers, SVA, and AFL-CIO to reclaim labor’s capital—the workers money—and to rebuild America. Through economically targeted investments (or, ETIs) and Heartland's many books on workers’ pensions, this network has become an aviator in responsible investing. Investment partners have saved or created 100s of thousands of high-road jobs; built ½ million+ housing units; invested $4-5 billion in infrastructure; and re-tooled and re-shored critical manufacturing.
Three years ago, Tom was recruited by former Pittsburgh Mayor Bill Peduto to help with the launch of the Marshall Plan for Middle America (MP4MA), which brought together nine mayors in a four-state region. Working together with Reimagine Appalachia, Heartland has established the Appalachian
Sustainable Finance Hub to marshal responsible investors, tools, and procurement solutions for a range of clean economy projects in Middle America/Upper Appalachia.
A recording from the IWG is available online. Heartland will reconvene the Hub in Cincinnati on June 14 as part of the Milken 10,000 Communities Road Show.
