by Guest Contributor | Apr 1, 2024 | Opinion
The evolution of climate action has reflected the need for affordable options. Universal basic income (UBI) has the unique opportunity to empower everyone to change the world. The warming environment necessitates rapid development and deployment of climate innovations. UBI can provide the accessibility that is crucial to the widespread adoption of solutions like solar panels, energy-saving appliances, and electric vehicles (EVs). This article will explain how UBI and climate change intertwine to create the perfect catalyst for environmental responsibility.
Basic Income and Climate Change
UBI advocates recognize the positive impact that policy changes like this can have on the environment. Basic income is an underutilized concept that outlines how the government would provide all citizens with a base-level income monthly or annually. Ideally, this would be unconditional and exist regardless of socioeconomic status. The intersection of basic income and climate change mitigation lies in the opportunities UBI can create to reshape consumer behavior, foster innovation, and provide a safety net for those most vulnerable to the impacts of environmental shifts.
Ensuring a basic income for all citizens can create a foundation that enables them to make sustainable choices without the constraints of financial insecurity. Financial stability can drive a shift toward eco-friendly practices, encourage investments in clean technologies, and empower communities to actively participate in the transition to a low-carbon or carbon-neutral economy. Moreover, basic income serves as a buffer against the inevitable career impacts that will stem from technological and environmental changes. Offering the chance to save money and seek employment in environmentally sustainable careers offers society a more resilient and sustainable future.
Incentives To Invest in Sustainable Tech
With a guaranteed income, people are not only granted financial stability but are also better positioned to engage in environmentally conscious choices. If entire paychecks aren’t being sunk into costs of living, people are more likely to use excess cash flow to take advantage of sustainable tech investments. There are federal and state tax incentives specifically designed to promote sustainable technology investment in solar panels, EVs, and the like. Some include:
- Business tax benefits;
- Federal solar tax credits;
- Low-interest loans;
- State tax credits;
- Utility rebates.
With the financial stability of UBI, low-interest loans could become easier to obtain. This can facilitate the adoption of climate-friendly solutions that have upfront costs that many couldn’t otherwise afford. This financial empowerment enables a broader segment of the population to actively participate in the green revolution.
Return on Investment
There are plenty of climate tech solutions that offer a return on investment, whether that’s through tax incentives or decreased utility costs. Heat pumps, for instance, are valuable investments that provide an energy-efficient alternative to traditional HVAC systems. Some of the perks of installing heat pumps instead of furnaces or air conditioners include:
- Less electric use;
- No smoke or fumes;
- Compact sizing;
- No fossil fuel use;
- Filtered air;
- Increased home value.
With the economic flexibility provided by UBI, people can purchase heat pumps that not only reduce their carbon footprint but also provide individualized, long-term savings. Lowered utility bills and higher ROI when selling homes are just two examples.
Ability To Reskill for Green Careers
Long-term financial stability often involves safeguarding your career for the future. Offering UBI can give people the flexibility to participate in continued education. The demand for jobs in many industries is going down as the climate is changing, literally and figuratively. The shift to more eco-conscious careers is palpable. As the job market evolves toward sustainability, UBI empowers people to pursue education and training in fields such as social purpose, renewable energy, environmental science, or sustainable agriculture.
Some of the careers in these fields are inherently entirely new. Upskilling or reskilling can give job seekers the edge they need to secure a long-term career in less volatile sectors like clean energy. With the assurance of a basic income, they can gain the freedom to seek further education and unlock opportunities to transition into these green careers. The financial stability UBI provides offers a safety net during the learning process, mitigating the risks typically associated with career changes.
Room for Investments in Decarbonization
UBI also affords people a newfound capacity to invest in companies dedicated to climate tech solutions. This democratizes climate action, breaking down financial barriers and enabling a broader segment of the population to become stakeholders.
By investing in these forward-thinking companies, people not only align their portfolios with sustainable values but also become integral participants in driving the transition toward a low-carbon future. This diversifies the pool of sustainable investors but also creates a more inclusive and impactful approach to decarbonization, fostering a collective commitment to building a greener and more resilient global economy.
Looking to the Future
With climate change comes the threat of extreme weather events and, ultimately, mass extinction. UBI could be the answer by allowing the widespread adoption of climate action. It’s not that people generally don’t want to get involved in saving the environment. If they are educated on decarbonization efforts and the incentives to participate, UBI can be the driving force to get them involved.
Written by: Beau Peters
by Tyler Prochazka | Mar 2, 2024 | News
The Youth Leadership Council of UBI Taiwan concluded a visit to Boston, Massachusetts, showcasing their projects promoting basic income. The delegation, composed of high school students from Taiwan, engaged in a series of meetings with local leaders and organizations to gain insights about Boston’s UBI initiatives.
The Taiwanese delegation met with former Cambridge Mayor Sumbul Siddiqui, known for the “Rise Up” guaranteed income program; Camp Harbor View, and United South End Settlements (USES), both of which run basic income pilots focusing on families with children. Discussions with these organizations demonstrated how basic income improved school attendance and stabilized living conditions for families struggling to pay rent.
Tyler Prochazka, founder of UBI Taiwan, said the students learned from these organizations to put passion first when designing their UBI projects.
“This trip was an eye-opening experience for our students promoting basic income. They saw how non-profit organizations have been at the forefront of making UBI a mainstream issue in the United States and the lessons they can take for making their projects a success in Taiwan.”
Boston’s organizations provided lessons for the council’s pilot to help single parents in Taiwan. UBI Taiwan’s program provides 10,000 NT a month ($300 USD) to single parents, tracking their progress through a documentary film. Steve Wei, director of the single-parent basic income program, highlighted how the program has already supported a mother moving into a better job and dealing with a health emergency. The documentary film is planned to be released in 2025, offering a window into how these lives are affected by basic income.
Allen Chen, founder of Lead For Taiwan, which co-organizes the leadership program, said: “The purpose of this visit was to combine education and social issues innovatively. We hope through this educational experience, we can guide students to find social issues they care about and make it their life goal to solve this problem.”
A theme throughout the visit was the ongoing challenge of public skepticism towards UBI. The Youth Leadership Council learned from USES that reframing the conversation to emphasize support for caregivers over the unconditionality of cash could help mitigate concerns. Another insight from the meeting was that nonprofit organizations might bridge trust gaps between recipients and government entities. This sparked discussions on the potential of public-private partnerships in administering programs that supplement UBI, such as USES’ mentorship services it provides for dealing with financial issues for recipients of its basic income.
James Davis, a special consultant for UBI Taiwan, said these discussions were important to deepen the international network of basic income advocates.
“Society’s evolution has always involved the cross-border exchange of ideas, and our team’s trip to Boston exemplifies that ideal. A permanent Universal Basic Income in Taiwan will earn global recognition and restore national solidarity.”
The council’s engagement extended to the government, with recognition from the Boston City Council and discussions on state policies with the Massachusetts Government Asian Caucus. The latter meeting underscored the shared challenges in Taiwan and the United States on funding basic income initiatives and the pushback stemming from taxation concerns.
Prochazka said meeting the former Cambridge Mayor and current City Councilor, Sumbul Siddiqui was particularly insightful for the students. Siddiqui underscored the administration challenges and impact of basic income programs for low-income families in Cambridge, a program similar to UBI Taiwan’s single-parent initiative. Councilor Siddiqui’s experience addressing the wealth gap in Cambridge provided a real-world perspective on policy implementation for the students.
Before meeting the government officials, the students completed leadership training on the Harvard campus. Workshop activities were run by the Harvard Undergraduate Global Education Movement, with mentors providing feedback on students’ projects and presentation skills.
Reflecting on these sessions, the co-director of the leadership program Bob Lin said: “Having witnessed firsthand the power of education on making social change, I was inspired by how this trip motivated the students to take action on their projects.”
One of the student’s projects included “Buddy Up,” a program that provides mentorship to vulnerable students, particularly those in single-parent households. Wesley Low is a student at Taipei American School and founded the program. He intended to supplement the UBI pilot and provide additional support beyond the cash assistance.
“This trip widened my understanding of the spectrum of issues in the world and motivated me to take greater initiative,” Low said.
The visit to Boston marks a significant milestone for the Youth Leadership Council in pushing discussions of UBI to support families in Taiwan. By engaging with international leaders, the council gained insights and showcased the potential of youth-led initiatives in driving social impact.
Evan Tseng, the student vice president of the council, reflected on the importance of thorough research and passion in driving successful initiatives, drawing parallels with Harvard students’ projects. Tseng said he was inspired to learn about a program that redirected unused masks to the homeless during the pandemic.
“This is precisely the skill we need, to find resources in the most unlikely places to succeed in your project,” he said.
About UBI Taiwan
UBI Taiwan is dedicated to exploring and implementing Universal Basic Income solutions to address social and economic challenges. Through research, advocacy, and pilot programs, UBI Taiwan aims to foster a more equitable and sustainable future.
About Lead For Taiwan
Lead For Taiwan is committed to nurturing future leaders with a focus on solving social issues through innovative education and leadership programs. Its mission is to empower young minds to lead with purpose and make a tangible impact on society.
About Ascent Academy
Ascent Academy sponsors the Leadership Immersion Program. By teaching debate and public speaking, Ascent Academy’s goal is to help students apply these skills to make real social change.
by Guest Contributor | Jan 11, 2024 | News
Image Source: Unsplash
by Beau Peters
So you’re an aspiring entrepreneur. You have a concept that you believe will add value to a sector of the market, the passion to set out on your own, and the know-how to make a dream into a small business.
However, as you venture into a field with many competitors, large and small, you’ve likely come up against a core truth in a capital-driven economy. While in theory, anyone can start a successful business and achieve success, some are more likely to succeed than others. The gulf between resources available to a first-time entrepreneur who left their minimum wage job to make something of themselves and a seasoned businessperson with several success stories under their belt is – well, it speaks for itself.
Read the full article here.
by Peter Knight | Dec 21, 2023 | News
A new report on a recently concluded statewide guaranteed income pilot program with immigrant families shows how unrestricted cash assistance programs allowed low-wage earners to pursue better jobs, increase their educational levels, and improve other critical outcomes for their children.
“The NM Economic Relief Working Group’s 18-month guaranteed income (GI) pilot selected 330 mixed-immigration status households to receive unconditional direct cash transfers of $500 monthly for 12 months from February 2022 to February 2023. One-third of households sampled came from rural communities and two-thirds from urban communities. An additional extension was granted to 50 randomly-selected mixed-status households to receive $500 monthly for an additional 6 months (February 2023-August 2023).
Immigrant families were chosen for the pilot because polling showed these families struggled significantly more than the general population during the pandemic because of numerous exclusions from the country’s safety net; these exclusions were due to lack of a social security number even if the household had U.S.-citizen children. In addition, many immigrant parents are not eligible for public safety-net programs, such as unemployment insurance, even though many are essential workers, make substantial tax contributions, and have positive economic impacts on our communities, state, and nation.
After receiving guaranteed income checks for a year:
• Rural participants reporting increases in employment: 14% increase
• Urban participants reporting having unstable work schedules: 36% decrease
• Rural participants reporting having unstable work schedules: 17% decrease
• Participants reporting, they had trouble paying the rent or mortgage on time: 35% decrease
• Participants reporting having to reduce or forego expenses for basic household necessities, such as medicine or food, in order to pay the rent or mortgage: 9% decrease
• Urban participants reporting having to reduce or forego expenses for basic household necessities, such as medicine or food, in order to pay the rent or mortgage: 18% decrease
Also, as part of its advocacy, the ERWG obtained a state rule change so that receiving regular GI payments do not count as income and thus do not negatively impact recipients’ SNAP or TANF allotments. ERWG’s longer term goal is to get the State of New Mexico to provide economic supports to participants in workforce development projects, specifically childcare, home health care and the oil & gas industries.
The report, “Guaranteed Income: Increasing Employment and Helping Families Thrive,” on the New Mexico Guaranteed Income Pilot Program for Immigrant Families, was released on December 12, 2023.”
Here is a link to the report and the fact sheet.
by Peter Knight | Nov 26, 2023 | News
Darryl Finkton, Jr. is a hedge fund manager turned community organizer. Raised in a poor black family in Indianapolis, Indiana, Darryl went on to graduate from Harvard College and Oxford University, where he studied as a Rhodes Scholar. In his new book End Poverty. Make Trillions, Darryl shares how he rose from rags to riches and searched for a way to end poverty. In 2021 he left his job as a hedge fund partner to promote the adoption of a universal basic income to end poverty in the U.S. with the help of venture dollars via his EPMT (End Poverty. Make Trillions.) fund, and then came up with a proposal to ensure everyone has an opportunity to generate wealth.
He calls his proposal “The Seed Money Act”. It would establish an unconditional, permanent, regular grant to every US household, set to an amount that’s equal to the federal poverty guidelines. “For example, for a single-person household in 2020, the amount would’ve been $1,063.33 per month.” Darryl also helped found a pilot basic income project in which recipients tell their own stories on a YouTube channel, Basic Income Works. He says “I want that program to be about the participants so I don’t want to promote the details of the pilot, just provide a platform for people to tell their stories.”
