Last Friday, the incoming head of the International Energy Agency (IEA), Faith Birol, provided a briefing to U.S. stakeholders about IEA’s new special report on climate change, which found that global emissions could peak by the end of this decade without reducing economic growth. The report outlines five key pillars for turning the emissions corner by 2020, and importantly, one of the pillars is reducing methane from the oil and gas sector. The report‘s finding that the scale of potential reductions from oil and gas methane is about the same as the reductions from renewable energy underscores the impact that action on methane can have.
IEA’s report is the latest in a stream of recent analyses illustrating the enormous potential for methane reductions to slow climate change. This is because methane has such a powerful short-term impact on the climate, with 84 times more warming power than carbon dioxide over a 20-year timeline. And, the report also highlights the significant opportunity that exists in implementing cost-effective, commonsense measures to cut these emissions, which many governments and companies have not yet taken advantage of. Read More
California public school teachers. Religious charities. New York police officers and firefighters.
What do all of these groups have in common? Investors representing them — who manage $1.5 trillion in retirees, current employees’, and others assets – are standing together and calling for strong rules limiting harmful methane emissions from the oil and gas sector. This level of outpouring – from diversified investors with holdings in the oil and gas industry – represents five times the support investors expressed for methane rules last year. A trend is emerging.
The investors, including the largest retirement funds in California and New York, issued a powerful statement in support of the president’s methane proposal aimed at cutting emissions nearly in half in a decade. A centerpiece is regulation of methane, the primary ingredient in natural gas, which has over 80 times the warming power of carbon dioxide in the first 20 years after it’s released and is responsible for 25 percent of the warming we are feeling today. Read More
Each month, the Energy Exchange rounds up a list of top clean energy conferences around the country. Our list includes conferences at which experts from the EDF Clean Energy Program will be speaking, plus additional events that we think our readers may benefit from marking on their calendars.
Top clean energy conferences featuring EDF experts in July:
July 12-15: NARUC Summer Committee Meetings (New York, NY)
Speaker: N. Jonathan Peress, Air Policy Director – Natural Gas
- The NARUC Summer Committee Meetings are an opportunity to meet with utility regulators from every State in the U.S., along with federal and international officials. Meetings topics include the latest in regulatory trends and best practices within utility sectors, including electricity, natural gas, telecommunications, and water.
By: Matt Golden, Senior Energy Finance Consultant
A few days ago, economists from the University of Chicago and the University of California, Berkeley released a study that called into question the cost-effectiveness of energy efficiency. The study was based on the team’s analysis of energy savings shortfalls in the Michigan low income Weatherization Assistance Program. Since then, a host of articles have used the study’s results to call into question the value of utility-sponsored energy efficiency programs.
While this study did raise some thought-provoking points, it also contained biased assumptions and reached conclusions that far exceed its scope, lumping together market-based efficiency with low-income weatherization programs. Read More
Last week’s papal encyclical on climate change galvanized those of us who already see responsible stewardship for the earth as both a moral mandate and business imperative. In the 184-page document, Pope Francis calls for a sweeping overhaul of political, economic, and individual practices to halt the degradation of the environment and protect our planet for the long term.
The pope's sweeping vision is sure to prompt churches, people of faith, and a whole range of organizations to rethink their actions with regard to use of energy, water, and other natural resources. But already, religious organizations have been working quietly and steadily to effectively manage their environmental impact, in keeping with the established theological tradition of moral economic development and use of resources.
Take Gene Murphy of Prescott, Arizona, as a prime example of someone sitting at the intersection of religion, sustainability, and business. As the business manager for the Sacred Heart Parish in the Diocese of Phoenix, Gene has developed scalable solutions for his church and school that could and should be replicated across all churches, schools and relevant organizations. Read More
By: Matt Golden, Senior Energy Finance Consultant
The Investor Confidence Project (ICP), an Environmental Defense Fund initiative designed to unlock investment in energy efficiency, announces the launch of the ICP Quality Assurance Credential for companies with the skills, training, and experience to provide independent review of ICP projects.
This last of three key credentials authorizes third-party Credentialed Quality Assurance providers to verify that a project conforms to a set of ICP protocols, as well as certify it as an Investor Ready Energy EfficiencyTM project. The completion of the ICP credentialing system marks a crucial step forward for ICP and the standardization of the commercial and multifamily energy efficiency industry.