Article
Ares Charitable Foundation’s CREST Initiative: Driving Economic Mobility Through Green Workforce Development
The race to mitigate climate change and build a low-carbon economy has sparked a surging demand for green jobs—but a growing skills gap threatens to leave countless opportunities unfilled.
Climate-Resilient Employees for a Sustainable Tomorrow (CREST)—a Signature Initiative of the Ares Charitable Foundation (the Ares Foundation)—is addressing this critical challenge. Launched in 2022 with an ambitious $25 million investment over five years, CREST aims to prepare and reskill individuals in the U.S. and India for climate-resilient careers while helping drive equitable economic mobility. With a focus on the U.S. and India, the initiative helps ensure a localized yet scalable approach to a just transition and low-carbon economy.
Through strategic partnership with Jobs for the Future (JFF) and World Resources Institute (WRI), CREST takes an innovative approach to workforce development. The initiative supports preparing individuals for job opportunities in the U.S. to help generate regional blueprints for an inclusive green workforce. It also supports reskilling micro-, small- and medium-enterprise (MSME) workers in India’s automotive and textile sectors in sustainability best practices to help these businesses withstand the shocks of a changing climate. CREST addresses systemic inequities at the intersection of economic disparity, career preparation and reskilling and climate risk by prioritizing opportunities for people of color, women, financially disadvantaged individuals and other frequently overlooked populations.
BCIU partnered with the Ares Foundation during the 2024 United Nations General Assembly Week for a convening titled “Investing in Worker Reskilling To Help Drive Corporate Sustainability Targets.” The event examined the intrinsic link between supporting workers and safeguarding global supply chains. Panelists explored actionable solutions to reskill workers, bridge gaps in global supply chains, and create equitable partnerships that promote corporate sustainability goals and economic resilience.
“Climate change is causing shifts in the economy across all industries and requiring workers with new skills and capabilities. Yet, there is a gap between the demand for a skilled workforce for green jobs and the number of people prepared for these opportunities,” said Michelle Armstrong, President of the Ares Foundation.
While philanthropy frequently funds workforce readiness initiatives, there is not yet a strong focus on preparing individuals with the skills necessary for the expanding number of green-sector jobs. To build an inclusive, resilient economy, more workers will need to develop and strengthen the green skills increasingly needed to navigate this growing green economy.
Strengthening supply chains through economic equity and climate resilience
Global supply chains are under increasing strain as companies face mounting pressure to meet sustainability targets while navigating the impacts of climate change. CREST recognizes that a sustainable supply chain must begin with investing in people.
At the center of this effort is CREST’s commitment to educating and upskilling small- and medium-enterprise (SME) workers and integrating their diverse voices into supply chain policies, ensuring that they are not left behind in the transition to a green economy.
We realize there are a lot of gaps in supply chain sustainability,” said Eliot Metzger, Director, Sustainable Business & Innovation at WRI. “All positive change starts with people. Companies are setting sustainability targets, but they haven’t paid as much attention to the business owners who must change their incentives and help their employees reskill in order to reach those targets.
By reskilling and upskilling workers across sectors, companies not only reduce the risk of supply chain disruptions, but they also enhance their competitiveness through innovation, driven by a diverse and well-trained workforce. Furthermore, prioritizing continuous learning and talent development helps future-proof businesses, better ensuring organizations can adapt to the rapidly changing demands of the green economy.
Reducing inequities between large corporations and SMEs within supply chains is another critical goal of CREST. By helping SME workers develop and apply the skills and resources needed to meet corporate sustainability mandates, CREST helps empower these suppliers to thrive alongside their larger buyers. This inclusive strategy helps strengthen supply chains, promote long-term growth and demonstrate that investing in workforce development is not just a moral imperative; it’s a strategic advantage in today’s interconnected economy.
Empowering workers through education and skill development
Rapid technological advancements, including AI and automation, are transforming industries, making it imperative for workers to reskill and upskill to remain competitive. The transition to a decarbonized economy underscores this urgency, with $10 trillion in annual business opportunities poised to generate 395 million jobs globally by 2030, according to the World Economic Forum.[1] However, without targeted interventions, many individuals—particularly those without four-year degrees—risk being left behind.
“Employer demand for green skills is growing twice as fast as supply,” said Efrem Bycer, Senior Lead Manager of Public Policy and Economic Graph at LinkedIn. “The LinkedIn hiring rate for workers in the green talent pool, defined as workers with green job titles or at least one green skill, is 55% higher than for the global workforce as a whole.”
By addressing workforce development through the lenses of economic equity and climate resilience, CREST is helping drive solutions to protect workers and the supply chains that rely on them as well as create pathways for these individuals’ economic mobility.
In the U.S., the $550 billion Infrastructure and Investment Jobs Act is expected to create a wave of green jobs, but labor experts have warned that insufficient funding for training solutions could hinder progress. The disparity is evident as individuals with higher education levels are disproportionately accessing green jobs, further widening economic inequities. Addressing this imbalance is critical to ensuring an inclusive and equitable energy transition that benefits workers regardless of their educational backgrounds.
In India, WRI is striving to reskill at least 1,000 MSME automotive and textile workers in Chennai and Surat, respectively, while raising awareness among 100,000 MSME owners and workers about green job opportunities and shared climate responsibilities. Beyond direct training, CREST aims to fosters collaboration among local communities, academic institutions, businesses and climate entrepreneurs to align training with real-world industry needs.
Building a sustainable and inclusive future
CREST exemplifies how strategic workforce development efforts can help address two of today’s most pressing challenges: economic inequity and climate change. By preparing and reskilling individuals—particularly underrepresented populations—for careers in the green economy, CREST can help individuals achieve economic mobility while contributing to a sustainable future.
As a foundation, we are very human-centric,” said Armstrong. “Yes, we care about outputs and results, but above all else we focus on the people and the overall impact our work and initiatives have on individuals’ quality of life.
“CREST is about more than workforce development—it’s about driving systemic change,” said Armstrong. “By both preparing and reskilling workers and supporting the businesses that employ them, we’re helping to build resilient communities and protect global supply chains, all while advancing the transition to a green economy.”
As CREST continues to scale its impact, it demonstrates that investing in people is a powerful strategy for solving complex global challenges. By aligning workforce development with sustainability goals, the initiative not only helps meet the needs of businesses and industries but also helps better ensure an inclusive future for workers and communities worldwide.
The Ares Charitable Foundation (the “Ares Foundation)” is a 501(c)(3) qualifying organization of Ares Management LLC (“Ares” or the “firm”) that envisions a world in which people have access to the financial knowledge, resources and opportunities needed to achieve their potential and chart pathways to self-sufficiency. Established in 2021, we strive to advance economic mobility and strong local economies by helping people access quality jobs, launch and scale businesses, and build personal finance skills.
We execute our philanthropy with the same rigor, discipline and entrepreneurial spirit that Ares brings to its investment activities and business operations. We act in accord with the firm’s core values—to be collaborative, responsible, entrepreneurial, self-aware and trustworthy—by engaging in grantmaking and mission-aligned initiatives that strengthen the communities where Ares stakeholders live and work, and where the firm does business.
To learn more about CREST, please visit: https://aresfoundationreport.aresmgmt.com/2023-annual-report/signature-initiative-climate-resilient-employees-for-a-sustainable-tomorrow-crest
To learn more about BCIU’s climate and sustainability programming, please visit: https://bciu.org/what-we-do/themes/climate-sustainability/
Stay Updated
Stay current with our latest stories, insights, and programs.
