Document Type
Policy Brief
Publication Date
6-2024
Abstract
The world of financing is constantly evolving to respond to the needs and trends of the markets. In recent years, this evolution has been illustrated in the more significant emergence of financial solutions supported by technology and the important advances that have sought to align financing mechanisms with the Sustainable Development Goals (SDGs) promoted by the United Nations and the Paris Agreement. Public and private entities have adopted these guidelines in a growing dynamic at a global level.
As of 2020, minority-owned businesses comprise approximately 30% of California’s 4.1 million small businesses (Figure 1). In Santa Clara, minority-owned businesses receive only 15% of the total payments from Santa Clara’s contracts. The city’s Vendor Disparity Study, covering July 2016 to June 2021, revealed that of the $2.4 billion spent on contracts, around $364 million went to minority-owned businesses. This includes less than 1% spent on Black, Hispanic, or Native American-owned businesses.
Recommended Citation
Chaia, Emil, "Leveraging Green Financial Instruments to Bridge the Decarbonization Gap in Minority-owned SMEs in Santa Clara" (2024). Silicon Valley Power Sustainable Futures Program. 7.
https://scholarcommons.scu.edu/svpsfp/7
