Port of Virginia scores $380 million in sustainability funds By EPN Staff The Port of Virginia will use a $380 million federal grant from the U.S. Environmental Protection Agency (EPA) to purchase electric equipment and infrastructure to help achieve its goal of net-zero greenhouse gas emissions by 2040. Why it matters The funding, part of EPA’s Clean Ports grant program, will allow the port to replace more than 150 pieces of outdated diesel- and gasoline-powered equipment, including: cranes, forklifts, shuttle carriers, and trucks at Norfolk International Terminals (NIT) and Richmond Marine Terminal (RMT). Replacements will be fully electric, helping the port reduce mobile-source pollution, and new electric vehicle charging infrastructure and energy storage will be installed to ensure seamless operation. The bigger picture In Fiscal Year 2024, the Port of Virginia processed 3.5 million twenty-foot equivalent (TEU) containers, making it the third busiest container port on the East Coast behind New York and Savannah, Ga. It is an economic powerhouse for Hampton Roads and the commonwealth, generating more than 565,000 jobs and $63 billion in gross state product. The new equipment and ongoing efforts to modernize facilities are expected to drive economic growth while also benefiting surrounding communities by reducing harmful emissions. The Port of Virginia’s Portsmouth Marine Terminal already plays a key role as a logistics hub supporting the development of Virginia’s offshore wind industry. What they’re saying Stephen A. Edwards, CEO of the Virginia Port Authority, noted the grant will increase operational efficiency and position the port for continued success. The grant was supported by Virginia’s congressional delegation. The port’s electrification and sustainability initiatives are seen as a model for ports nationwide, advancing both environmental goals and workforce development, while positioning the Port of Virginia as a leader in clean energy and sustainable port operations. SUGGESTED STORIES Virginia lawmakers weigh ‘climate superfund’ legislation Virginia lawmakers are exploring a proposal that mirrors Vermont’s landmark 2024 “Climate Superfund Act” to pay for storm-related infrastructure upgrades and healthcare services for residents affected by extreme weather events. Bills introduced in Virginia’s House of Delegates and S Read more Georgia ports secure $48 million in federal sustainability grants In its waning days, the Biden Administration quickly awarded an estimated $2.9 billion in grants via the Environmental Protection Agency’s Clean Ports Program – a creation of the 2022 Inflation Reduction Act. Over $48 million of those grants was awarded to the Georgia Ports Authorit Read more Report: Pension funds prioritize ESG policies, weaken returns Political activism, rather than economic interest, has played a significant role in the investment decisions of Pennsylvania’s teacher pensions, according to a new report, “Putting Politics over Pensions,” from a nonpartisan economic advocacy group. The report evaluated how frequent Read more
Virginia lawmakers weigh ‘climate superfund’ legislation Virginia lawmakers are exploring a proposal that mirrors Vermont’s landmark 2024 “Climate Superfund Act” to pay for storm-related infrastructure upgrades and healthcare services for residents affected by extreme weather events. Bills introduced in Virginia’s House of Delegates and S Read more
Georgia ports secure $48 million in federal sustainability grants In its waning days, the Biden Administration quickly awarded an estimated $2.9 billion in grants via the Environmental Protection Agency’s Clean Ports Program – a creation of the 2022 Inflation Reduction Act. Over $48 million of those grants was awarded to the Georgia Ports Authorit Read more
Report: Pension funds prioritize ESG policies, weaken returns Political activism, rather than economic interest, has played a significant role in the investment decisions of Pennsylvania’s teacher pensions, according to a new report, “Putting Politics over Pensions,” from a nonpartisan economic advocacy group. The report evaluated how frequent Read more
