Tag Archives: Coalition for Green Capital.

An Urgent Call To High-Emitting Sectors: It’s Time For Climate Action

Contributed by Mindy Lubber, Forbes 

If we want to avert the most catastrophic impacts of the climate crisis, we will need bold, broad, and immediate action. We must act now and we will need everyone to do their part — countries, policymakers and regulators, each investor, every company.

That’s why we’re launching the Ceres Ambition 2030 initiative, designed to meet the urgency of this moment. We now know that the most ambitious actions of a few companies, or even a few hundred, aren’t enough. With Ambition 2030, we are working to decarbonize entire sectors, starting with six of the highest-polluting: electric power, oil and gas, steel, food, banking and transportation. Read more here.

Mindy Lubber is CEO and president of the sustainability nonprofit Ceres and a founding member of the global steering committee for Climate Action 100+. She was the recipient of the Champions of the Earth award —the United Nations highest environmental honor — for her leadership on climate change and sustainability. Lubber was also named Barron’s 100 most influential women in U.S. finance.

Ceres Initiatives Also Include

About Ceres
Ceres is a nonprofit organization working with the most influential capital market leaders to solve the world’s greatest sustainability challenges. Through our powerful networks and global collaborations of investors, companies and nonprofits, we drive action and inspire equitable market-based and policy solutions throughout the economy to build a just and sustainable future. For more information, visit ceres.org.

MORE CLIMATE ACTION RESOURCES

As You Sow: Our mission is to promote environmental and social corporate responsibility through shareholder advocacy, coalition building, and innovative legal strategies.

CDP is a not-for-profit charity that runs the global disclosure system for investors, companies, cities, states and regions to manage their environmental impacts. Over the past 20 years we have created a system that has resulted in unparalleled engagement on environmental issues worldwide. Find out more about how we work.

Coalition For Green Capital (CGC) is a nonprofit with a mission to halt climate change by accelerating investment in clean energy technologies. CGC achieves this by advocating for, creating and implementing Green Bank finance institutions. Green Banks are a proven finance model that uses public and philanthropic funds to mobilize private investment in renewable energy, energy efficiency and other decarbonization technologies. For over a decade, CGC has led the Green Bank movement, working at the federal, state and local level in the U.S. and in countries around the world. By increasing investment and accelerating the construction of clean power, CGC is helping deliver a cleaner, better future.

Environmental Protection Agency: Climate Change
EPA’s climate change website is back, with more content to come. Please return as we add new information and features. Learn more about the objectives of the EPA Climate Change website. Understanding and addressing climate change is critical to EPA’s mission of protecting human health and the environment. EPA tracks and reports greenhouse gas emissions, leverages sound science, and works to reduce emissions to combat climate change.

Interfaith Center On Corporate Responsibility is a coalition of faith- and values-based investors who view shareholder engagement with corporations as a powerful catalyst for change. Our mission statement, “inspired by faith, committed to action” sets forth our pledge to be active owners, and to engage meaningfully with the companies in our portfolios through the process of shareholder engagement that we pioneered nearly 50 years ago. 

Our guiding principle as shareholders is that sustainable corporations must look beyond the next earnings report to account for the full impact of their business on society and must view the well-being of all of their stakeholders―including their workers and the communities where they operate — as integral to their long-term value.

Proxy Preview is a collaboration between three organizations: As You Sow, Sustainable Investments Institute, and Proxy Impact. Proxy Preview provides the most comprehensive data on hundreds of shareholder resolutions – including environmental, corporate political spending, human rights, diversity, sustainable governance issues, and much more. Shareholder resolutions are a key form of engagement for U.S. investors interested in changing the environmental and social impacts of companies. Register for a free account to view Proxy Preview reports and watch a webinar at the website link above.

RESOURCES FOR GOVERNORS & MAYORS 

The U.S. Climate Alliance is a bipartisan coalition of governors committed to reducing greenhouse gas emissions consistent with the goals of the Paris Agreement. The alliance represents:

  •  61% of the U.S. economy.
  •  57% of the U.S. population.
  •  43% of U.S. emissions.

Climate Mayors, founded in 2014, is a bipartisan, peer-to-peer network of more than 470 U.S. mayors demonstrating climate leadership through meaningful actions in their communities. Representing 48 states and 74 million Americans, the Climate Mayors coalition reflects U.S. cities’ commitment to climate progress. 

How infrastructure is banking on green banks

By Heather Clancy, Editorial Director, GreenBiz Group

Quick, what do Alaska, Maine and South Carolina have in common? 

All three U.S. states are seriously evaluating the creation of green banks — financing institutions created with the explicit mission of combining public and private funds to invest in climate solutions and green infrastructure. They would join roughly 20 other U.S. jurisdictions that have used this mechanism to drive more than $5 billion in clean energy investments as of the end of 2019, including Connecticut, Florida, Michigan and Washington, D.C. 

Alaska is so invested in the idea that Rep. Don Young, a Republican who championed Deb Haaland’s nomination as Interior Secretary, last week stepped across the aisle again to become a co-sponsor of the latest legislation to create a national-level green bank. The bill would make $100 billion of public funds available for a nonprofit organization that would provide financing and other support to regional, state and local green banks — an amount the sponsors say could catalyze $884 billion in green infrastructure investments over the next decade and help create 4 million clean economy jobs within the next four years. Continue reading here.

LINKS TO MORE INFORMATION

ALSO OF POTENTIAL INTEREST

New Offshore Wind Turbine Can Power a Home for a Day in Just 7 Seconds

By John Rogers, Senior Energy Analyst, Union of Concerned Scientists

The first large-scale offshore wind farm in the United States may use the largest wind turbine in the world. Here are a few ways to think about what all that might mean. The developers of the Vineyard Wind project off Massachusetts have just announced that they’ll be using GE wind turbines—specifically, the GE Haliade-X. That turbine recently got a capacity upgrade, from a world-leading 12 megawatts (MW) to a world-leading-by-even-more 13 MW. Those developments got me thinking about both the turbine and the project. Read more here.

Additional Recommended Reading

President-Elect Biden Must Prioritize Coal Communities—and Here’s How, by Jeremy Richardson, Senior Energy Analyst, Union of Concerned Scientists

CIVILIAN CLIMATE CORPS

The Energy 202: Young people want to do something about climate change. Biden may have an answer, by Dino Grandoni, with Alexandra Ellerbeck, Washington Post

During the campaign, Biden called for mobilizing “the next generation of conservation and resilience workers through a Civilian Climate Corps.” Now Biden’s allies are beginning to think about what exactly such a program will look like as he prepares to take office next month.

GTM’S POLITICAL CLIMATE PODCAST

‘The Landscape Has Shifted’: Neil Chatterjee on FERC’s Role in the Energy Transition, by Julia Pyper, Greentech Media


In this episode of Political Climate, we speak to FERC Commissioner Neil Chatterjee about several of the agency’s recent rulemakings, past controversies and his outlook for the future of U.S. energy policy in today’s shifting political landscape.

 

GREEN BANKS

Green bank advocates hope Biden win can help reinvigorate idea in Minnesota, by Frank Jossi, Energy News Network

The coalition suggested that a bank with $100 million in capital could create as many as 15,000 jobs in Minnesota. Fifteen green banks operate in 12 states and have financed $5 billion in energy investments, returning more than $3.60 for every $1 spent, the report says. Most green banks operate on the coasts, with Michigan Saves being the only one in the Midwest. Ohio and Missouri have begun exploring the concept.

Coalition for Green Capital Report:  A Green Recovery For Minnesota: Job Creation, Environmental Justice, and Clean Energy

GOOGLE

Google calls for more RTOs, designs ‘intelligent platform’ to meet 24/7 clean energy goal, by Emma Penrod, Utility Dive

Achieving Google’s new 24/7 clean energy goal will require both the adoption of new technologies, and new purchasing options, the company’s head of global energy markets and policy said Thursday on a National Association of Regulatory Utility Commissioners (NARUC) panel. Eighty percent of offsite corporate procurement takes place in regions with access to competitive wholesale markets, according to Bryn Baker, director of policy innovation at the Renewable Energy Buyers Alliance.

Previously Posted

SELLING ENERGY EFFICIENCY + SOLAR AS A PACKAGE

POWERHOME SOLAR Named Silver Honoree In Inc.’s Best In Business Awards, PR Newswire
POWERHOME SOLAR is an energy efficiency company that provides high-quality American-made solar panels as part of a complete energy-savings package for residential customers. The company launched in 2014 in Mooresville, N.C., and today has nearly 1,700 employees, including a commercial division. Operating in 10 states, it is ranked No. 255 on the 2020 Inc. 5000 list of the fastest-growing private companies in America — the third time in four years that the company has made the top 300 on this prestigious list. 

ENERGY STAR

ENERGY STAR® is the government-backed symbol for energy efficiency, providing simple, credible, and unbiased information that consumers rely on to make well-informed decisions. Click here to find ways to save at home.

PV RECYCLING – AN ECONOMIC OPPORTUNITY

Solar panel recycling in the US — a looming issue that could harm industry growth and reputation, PV Magazine

According to a 2016 report by the International Energy Agency (IEA) and International Renewable Energy Agency (IRENA), the economic benefits of a U.S. circular economy could be around $135.3 million in 2020, $1.4 billion by 2030, and $10.1 billion by 2050. “Economic multipliers would significantly increase these amounts,” said Vanderhoof.

LETTER TO EV BUYERS

Letter to a Friend Buying an Electric Car, by Joe Wachunas, CleanTechnica
Two friends recently bought electric cars for their families after thinking about it for a long time. Beyond wanting to congratulate them, and click my heels together like Gene Kelly in Singing in the Rain, I felt the need to describe, in detail, just how big a deal this EV purchase is, beyond platitudes like “EVs are so amazing for the world.” So I wrote them a letter.

About Joe Wachunas
Joe Wachunas lives in Portland, Oregon, and works for the nonprofit Forth, which promotes electric transportation. He is also involved with Electrify Now because he believes that electrifying everything, from transportation to homes, is the quickest path to an equitable, clean energy future. And of course, Joe and his family live in an all-electric home and drive an EV.

Bloomberg Green: Warren Buffett Is One of the World’s Richest Fossil-Fuel Billionaires

By Tom Metcalf, Bloomberg

The 10 largest fortunes with links to greenhouse gas emissions are valued at $537 billion. But while some on the list are digging in—the Koch family, for example, continues to fund politicians who resist climate change action—there are plenty of signs that the status quo is shifting, thanks in part to many of those on this very list. Volkswagen is targeting becoming carbon emission free by 2050, with planned investments and development costs in areas such as hybridization, electric cars and digitization expected to total roughly 60 billion euros between 2020 and 2024. Oil giant Lukoil saw the total amount of electricity it generated from renewable sources in 2018 increase by 30% compared to 2017, while its total investments in renewable sources in 2018 increased five-fold compared to a year earlier.  Sustainability is a strategic priority for Fiat Chrysler, which expects to reduce carbon dioxide emissions by 25-30% between 2018 and 2024 across its four major regions. Buffett’s impact, too, is shifting. Read more here.

Photo Credit: Flickr / William Alden

Additional Recommended Reading

The nonprofit, CDP, is also referenced in the Bloomberg article. Read more about it and other organizations that provide climate action resources for individuals, groups and corporations, below:   

As You Sow
Our mission is to promote environmental and social corporate responsibility through shareholder advocacy, coalition building, and innovative legal strategies. Our vision is a safe, just, and sustainable world in which protecting the environment and human rights is central to corporate decision making. Corporations are responsible for most of the pressing social and environmental problems we face today — we believe corporations must be a willing part of the solutions. We make that happen.
Resources Include: 

As You Sow has six Invest Your Values online tools, including Fossil Free Funds, which provide a searchable database for each value.
Resources on Climate Change

Billion Dollar Green Challenge
The Billion Dollar Green Challenge (The Challenge) encourages colleges, universities, and other nonprofit institutions to invest a combined total of one billion dollars in self-managed revolving funds that finance energy efficiency improvements. Participating institutions will achieve reductions in operating expenses and greenhouse gas emissions, while creating regenerating funds for future projects. In 2011, The Sustainable Endowments Institute launched The Challenge in collaboration with 16 partner organizations to help nonprofit institutions achieve sizable energy savings through the use of green revolving funds. Green Revolving Funds: A Guide to Implementation & Management

CDP
Formerly the Carbon Disclosure Project, CDP is a not-for-profit charity that runs the global disclosure system for investors, companies, cities, states and regions. We believe that improving corporate awareness through measurement and disclosure is essential to the effective management of carbon and climate change risk. We request information on climate risks and low carbon opportunities from the world’s largest companies on behalf of over 525 institutional investor signatories with a combined US$96 trillion in assets. 

Ceres
Ceres is a sustainability nonprofit organization working with the most influential investors and companies to build leadership and drive solutions throughout the economy. Through powerful networks and advocacy, Ceres tackles the world’s biggest sustainability challenges, including climate change, water scarcity and pollution, and inequitable workplaces. Our mission: Ceres is transforming the economy to build a sustainable future for people and the planet.
Initiatives include: Commit to Climate, We Are Still In, Climate Action 100+ and Clean Trillion
Global Initiative: Ceres Investor Network on Climate Risk and Sustainability

Coalition for Green Capital 
The Coalition for Green Capital’s mission is to drive greater clean energy investment into existing and new markets, in the United States and in developing countries with the goal of creating a 100% clean energy platform. To realize this opportunity, CGC incubates local clean energy finance organizations – often called Green Banks – and structures public, private and mission-driven capital for investment through those organizations. A large network of local clean energy finance organizations can access hard-to-reach projects, expand clean energy equity, and provide a scalable model for a thriving network for clean energy investment.

Interfaith Center on Corporate Responsibility
Currently celebrating our 49th year, the Interfaith Center on Corporate Responsibility pioneered the use of shareholder advocacy to press companies on environmental, social, and governance issues. Our coalition of over 300 global institutional investors currently represents more than $500 billion in managed assets. Leveraging their equity ownership in some of the world’s largest and most powerful companies, ICCR members regularly engage management to identify and mitigate social and environmental risks resulting from corporate operations and policies. While ICCR members never shy away from making the moral case for action, our fundamental proposition as investors is that responsible and sustainable business practices – and a strong corporate culture of ethics – are in the long-term interest of both companies and investors.
Resources include: 
ESG Investing & Financial Performance Reports

Proxy Preview
The annual Proxy Preview report is the #1 resource for shareholders looking to align their values with their investments. Proxy Preview is a collaboration between three organizations: As You Sow, Sustainable Investment Institute, and Proxy Impact. Proxy Preview provides the most comprehensive data on hundreds of shareholder resolutions – including environmental, corporate political spending, human rights, diversity, sustainable governance issues, and much more. Shareholder resolutions are a key form of engagement for U.S. investors interested in changing the environmental and social impacts of companies. Register for a free account to view the 2019 Proxy Preview report and watch a webinar at the website link above.
Shareholder Resources
Proxy Voting 101

Responsible Endowments Coalition
The Responsible Endowments Coalition works to build and unify the college and university-based responsible investment movement, both by educating and empowering a diverse network of individuals to act on their campuses, and by fostering a national network for collective action. We empower people to defend human rights and the environment while making both corporations and universities accountable to global stakeholders. Our goal is to foster social and environmental change by making responsible investment common practice amongst colleges and universities, and to support the next generation of activists for the endowment movement. Resources are available for: Students / Alumni / Committees, Administrators and Trustees. 

Second Nature
Since 1993, Second Nature has worked with over 4,000 faculty and administrators at hundreds of colleges and universities to help make the principles of sustainability fundamental to every aspect of higher education. In late 2006, twelve visionary college and university presidents initiated the American College & University Presidents’ Climate Commitment (ACUPCC). They were motivated by their conviction that higher education had the capacity and responsibility to lead on climate and sustainability action for the sake of their students and society.
See: The Presidents’ Climate Leadership Commitments
Additional Initiatives Include:
Carbon Offset Resources for Colleges and Universities
University Climate Change Coalition (UC3)
Resource Library

Sustainable Endowments Institute
The Sustainable Endowments Institute (SEI) conducts research, education, and outreach to advance resilient institutional responses to climate change. Initiatives Include:

  • The Billion Dollar Green Challenge (See above).
  • GRITS, an online platform designed to streamline the tracking and calculation of project-level energy, financial, and carbon savings data for all sustainability projects and efficiency improvements.
  • The Fossil Fuel Divestment Campaign: Since June of 2011, SEI has acted as a campus and endowment consultant for the Fossil Fuel Divestment Campaign, working with student groups and partner organizations to advocate for colleges and universities to divest their endowment funds from fossil fuel companies. For more information on the campaign, visit: Power Shift Network and GoFossilFree.org.

Additional Resources

Morgan Stanley Institute For Sustainable Investing’s Study & Survey

Industry Vows to Continue Fight for Pro-Solar Policies, Despite Missed Opportunity This Year

SEIA News Release 

WASHINGTON, D.C. — Today Congress and the White House were unable to agree on including an extension of the solar Investment Tax Credit (ITC) in an end of year tax package, meaning the credit will decrease at the end of this year. The measure also failed to include energy storage in the ITC. This represents a missed opportunity to take an achievable step to boost the economy, add jobs and reduce carbon emissions.

Following is a statement from Abigail Ross Hopper, president and CEO of the Solar Energy Industries Association on this development: 

“While I’m disappointed by this missed opportunity to boost the U.S. economy and jobs, and tackle climate change, I’m heartened that voter support for clean energy policies is at an all-time high. The solar ITC is a proven way to generate tens of billions of dollars in private investment each year, while substantially reducing carbon emissions. We will look for opportunities next year to again engage our incredibly supportive solar community and work with Congress on clean energy policies that work for all Americans.” Read the entire news release here.

Additional Recommended Reading

Creighton University president rejects student recommendation to divest from fossil fuels

By Brian Roewe, National Catholic Reporter

Creighton University will not divest from fossil fuels, as the Jesuit school’s administration declined to act on a non-binding referendum supported by 86% of the student body. While declining to divest, [President Daniel] Hendrickson announced he has asked the investment subcommittee of the university’s board of trustees to evaluate and consider investments in companies developing alternative energy sources and technologies aimed at reducing carbon emissions. He added Creighton will continue to use its shareholder position to push for carbon-reduction resolutions, and will seek out partnerships with groups like the Interfaith Center on Corporate Responsibility and the national Jesuit Committee on Investment Responsibility.
Read more here.

Links

Photo by Creighton University student Emily Burke: Hundreds of Creighton University students demonstrate outside St. John’s Church on the Omaha, Nebraska campus in April pressing the Jesuit school to take increased action on climate change, including divesting its endowment from fossil fuels.

Additional Resources

As You Sow
Our mission is to promote environmental and social corporate responsibility through shareholder advocacy, coalition building, and innovative legal strategies. Our vision is a safe, just, and sustainable world in which protecting the environment and human rights is central to corporate decision making. Corporations are responsible for most of the pressing social and environmental problems we face today — we believe corporations must be a willing part of the solutions. We make that happen.
Resources Include: 

As You Sow has six Invest Your Values online tools, including Fossil Free Funds, which provide a searchable database for each value.
Resources on Climate Change

Billion Dollar Green Challenge
The Billion Dollar Green Challenge (The Challenge) encourages colleges, universities, and other nonprofit institutions to invest a combined total of one billion dollars in self-managed revolving funds that finance energy efficiency improvements. Participating institutions will achieve reductions in operating expenses and greenhouse gas emissions, while creating regenerating funds for future projects. In 2011, The Sustainable Endowments Institute launched The Challenge in collaboration with 16 partner organizations to help nonprofit institutions achieve sizable energy savings through the use of green revolving funds. Green Revolving Funds: A Guide to Implementation & Management

CDP
Formerly the Carbon Disclosure Project, CDP is a not-for-profit charity that runs the global disclosure system for investors, companies, cities, states and regions. We believe that improving corporate awareness through measurement and disclosure is essential to the effective management of carbon and climate change risk. We request information on climate risks and low carbon opportunities from the world’s largest companies on behalf of over 525 institutional investor signatories with a combined US$96 trillion in assets. 

Ceres
Ceres is a sustainability nonprofit organization working with the most influential investors and companies to build leadership and drive solutions throughout the economy. Through powerful networks and advocacy, Ceres tackles the world’s biggest sustainability challenges, including climate change, water scarcity and pollution, and inequitable workplaces. Our mission: Ceres is transforming the economy to build a sustainable future for people and the planet.
Initiatives include: Commit to Climate, We Are Still In, Climate Action 100+ and Clean Trillion
Global Initiative: 
Ceres Investor Network on Climate Risk and Sustainability

Coalition for Green Capital 
The Coalition for Green Capital’s mission is to drive greater clean energy investment into existing and new markets, in the United States and in developing countries with the goal of creating a 100% clean energy platform. To realize this opportunity, CGC incubates local clean energy finance organizations – often called Green Banks – and structures public, private and mission-driven capital for investment through those organizations. A large network of local clean energy finance organizations can access hard-to-reach projects, expand clean energy equity, and provide a scalable model for a thriving network for clean energy investment.

Proxy Preview
The annual Proxy Preview report is the #1 resource for shareholders looking to align their values with their investments. Proxy Preview is a collaboration between three organizations: As You Sow, Sustainable Investment Institute, and Proxy Impact. Proxy Preview provides the most comprehensive data on hundreds of shareholder resolutions – including environmental, corporate political spending, human rights, diversity, sustainable governance issues, and much more. Shareholder resolutions are a key form of engagement for U.S. investors interested in changing the environmental and social impacts of companies. Register for a free account to view the 2019 Proxy Preview report and watch a webinar at the website link above.
Shareholder Resources
Proxy Voting 101

Responsible Endowments Coalition
The Responsible Endowments Coalition works to build and unify the college and university-based responsible investment movement, both by educating and empowering a diverse network of individuals to act on their campuses, and by fostering a national network for collective action. We empower people to defend human rights and the environment while making both corporations and universities accountable to global stakeholders. Our goal is to foster social and environmental change by making responsible investment common practice amongst colleges and universities, and to support the next generation of activists for the endowment movement. Resources are available for: Students / Alumni / Committees, Administrators and Trustees. 

Second Nature
Since 1993, Second Nature has worked with over 4,000 faculty and administrators at hundreds of colleges and universities to help make the principles of sustainability fundamental to every aspect of higher education. In late 2006, twelve visionary college and university presidents initiated the American College & University Presidents’ Climate Commitment (ACUPCC). They were motivated by their conviction that higher education had the capacity and responsibility to lead on climate and sustainability action for the sake of their students and society.
See: The Presidents’ Climate Leadership Commitments
Additional Initiatives Include:
Carbon Offset Resources for Colleges and Universities
University Climate Change Coalition (UC3)
Resource Library

Sustainable Endowments Institute
The Sustainable Endowments Institute (SEI) conducts research, education, and outreach to advance resilient institutional responses to climate change. Initiatives Include:

  • The Billion Dollar Green Challenge (See above).
  • GRITS, an online platform designed to streamline the tracking and calculation of project-level energy, financial, and carbon savings data for all sustainability projects and efficiency improvements.
  • The Fossil Fuel Divestment Campaign: Since June of 2011, SEI has acted as a campus and endowment consultant for the Fossil Fuel Divestment Campaign, working with student groups and partner organizations to advocate for colleges and universities to divest their endowment funds from fossil fuel companies. For more information on the campaign, visit: Power Shift Network and GoFossilFree.org.

Additional Recommended Reading

Morgan Stanley Institute For Sustainable Investing’s Recent Study & Survey
Sustainable Reality: Analyzing Risk and Returns of Sustainable Funds
Morgan Stanley Survey Finds Investor Enthusiasm for Sustainable Investing at an All-Time High

‘Stranded costs’ mount as coal vanishes from the grid

By Jeffrey Tomich, Reporter, E&E News 

study by consultants Vibrant Clean Energy LLC and Energy Innovation said the United States has reached “the coal crossover,” at which renewables could replace almost 75% of the U.S. coal fleet and at an immediate savings to customers. By 2025, the number is set to rise to 86%. But in most cases, what’s left behind as utilities pull the plug on old coal plants is more than industrial shells awaiting demolition. They’re also leaving behind millions of dollars of so-called stranded costs on the companies’ books — costs someone must shoulder . . . Environmental and consumer advocates, utilities, and regulators across other states in the coal-heavy Midwest are trying to find balance between cutting carbon and keeping utility bills affordable. A potential solution to accomplish those goals is securitization — refinancing higher-cost debt with low-interest, ratepayer-backed bonds. Read more here.

Photo Credit: We Energies

What are “stranded assets?”
Stranded assets are now generally accepted to be fossil fuel supply and generation resources which, at some time prior to the end of their economic life (as assumed at the investment decision point), are no longer able to earn an economic return (i.e. meet the company’s internal rate of return), as a result of changes associated with the transition to a low-carbon economy.
Source: Carbon Tracker Initiative

ADDITIONAL RECOMMENDED READING

Securitization fever: Renewables advocates seize Wall Street’s innovative way to end coal, by Herman K. Trabish, Utility Dive

State legislation authorizing the use of securitization:

GREEN BONDS

U.S. Green Bank Act of 2019 Would Provide $10 Billion+ of Capital to State and Local Green Banks, Coalition for Green Capital. The Green Bank Act of 2019 would inject billions of dollars into the U.S. economy to accelerate clean energy deployment, grow clean energy businesses, and deliver affordable clean energy to all Americans. The members of the global Green Bank Network and the American Green Bank Consortium have already shown that public investment in clean energy deployment drives greater total investment, job growth and lower energy costs. The bill creates a new USGB as a wholly owned corporation of the U.S. government, housed within Treasury. It would be capitalized through the issuance of federal Green Bonds.

SUBSIDIES

According to the International Monetary Fund, the United States subsidizes fossil fuels at a cost of $649 billion a year.

OPINION

Thriving in a low carbon future: M&A and the new energy economy, Utility Dive
Contributed article by Mary Anne Sullivan, Sarah Shaw and Alex Harrison, Partners at Hogan Lovells.