Portland Clean Energy Fund
The Portland Clean Energy Fund (PCEF), also known as the Portland Clean Energy Initiative, was a measure that appeared on the Portland Municipal Ballot on Nov. 6, 2018. Voters approved it by a margin of two-to-one.
This measure places a 1% surcharge on the business license fee paid annually by the largest businesses doing business in Portland. To qualify, a business had to do a minimum of $1 billion in sales nationally, and at least $500,000 in sales in Portland. The resultant revenue stream (Fund) – at least $30 million/year – will be dedicated toward providing mitigation of a degrading climate to those Portland residents who are the most vulnerable to climate change.
Management of the Fund will be led by members of the climate justice nonprofits active in the various disadvantaged communities in Portland. The portions of the Portland City Government involved in the implementation process are working directly with the leaders of the nonprofits from the disadvantaged communities. During the implementation phase, a Portland Clean Energy Fund governance board will be chosen by the leaders of the recipient communities in collaboration with the Portland City Council. The Portland City Council will provide additional governance on an on-going basis.