The Port of Oakland has decided to include zero-emission projects as part of a 2024 fiscal year budget of $558 million.
As disclosed, the new budget outlines critical components of the Port of Oakland’s future strategy. Those include an approval of a $163.7 million capital budget, and allocation of $245.2 million over five years to fund the Port of Oakland’s electric infrastructure, and support zero emissions operation goals including funding for Seaport Air Quality 2020 and Beyond Plan projects.
The Port’s Commissioners approved a $163.7 million capital budget for the next fiscal year. These investments in capital programs represent a 45.6% increase year-over-year strengthening the Port’s vision of building for the next generation.
Furthermore, the capital budget highlights the work being done today for the Port’s future and the region. Most of the spending is earmarked for Oakland International Airport and the Oakland Seaport, including the advancement of projects for green technology innovations and climate change resilience – like the longtime program to reduce pollutants from stormwater discharge, projects addressing sea level rise and efforts supporting the Port’s road to zero emissions operations.
The Port’s 5-year capital improvement plan, an estimate of future capital spending, is projected to be $1.4 billion. A total of $245.2 million over the next five fiscal years is planned to upgrade the Port’s electric infrastructure system, advance zero emissions initiatives including investments in projects that are part of the Seaport Air Quality 2020 and Beyond Plan.
Projects included in the capital budget from the Seaport Air Quality 2020 and Beyond Plan are:
“As a key global gateway on the U.S. West Coast, the Port of Oakland continues to grow its role as a center of innovation for emissions reductions by making major investments in the Port’s capital program,” said Oakland Board of Port Commissioners’ President Barbara Leslie .
“The Port’s commitment to a zero emissions future is necessary in moving our Port forward in the best interests of all of our stakeholders and community.”
“The critical investments approved by our Port Commissioners highlight the work we are all doing to ensure we are building a sustainable future for the next generation,” said Port of Oakland Executive Director Danny Wan .
“The Port Board’s budget approval sets us on an infrastructure path that will have lasting economic and environmental benefits for Oakland and the region.”
In May this year, the port announced it will work on green initiatives to reach zero emissions from seaport operations with the California State Transportation Agency (CalSTA) and a delegation of Japanese Ministry officials.