By Tom Murray, vice president, Corporate Partnerships Program
More than 530 companies and 100 investors signed the Low Carbon USA letter to President-elect Trump and other U.S. and global leaders to support policies to curb climate change, invest in the low carbon economy, and continue U.S. participation in the Paris Agreement. It’s a powerful message from business leaders connecting the dots between prosperity and a low-carbon economy and confirming their commitment to continue to lead the way.
The private sector call for continued leadership on climate cannot be ignored.
“All parts of society have a role to play in tackling climate change, but policy and business leadership is crucial,” said Lars Petersson, president of IKEA U.S. “The Paris Agreement was a bold step towards a cleaner, brighter future, and must be protected. IKEA will continue to work together with other businesses and policymakers to build a low-carbon economy, because we know that together, we can build a better future.” Read More
Also posted in Clean Energy
By Jonathan Camuzeaux, manager, Economics & Policy Analysis
Risky Business Report Finds Transitioning to a Clean Energy Economy is both Technologically and Economically Feasible
In the first Risky Business report, a bi-partisan group of experts focused on the economic impacts of climate change at the country, state and regional levels and made the case that in spite of all that we do understand about the science and dangers of climate change, the uncertainty of what we don’t know could present an even more devastating future for the planet and our economy.
The latest report from the Risky Business Project, co-chaired by Michael R. Bloomberg, Henry M. Paulson, Jr., and Thomas F. Steyer, examines how best to tackle the risks posed by climate change and transition to a clean energy economy by 2050, without relying on unprecedented spending or unimagined technology. The report focuses on one pathway that will allow us to reduce carbon emissions by 80 percent by 2050 through the following three shifts:
1. Electrify the economy, replacing the dependence on fossil fuels in the heating and cooling of buildings, vehicles and other sectors. Under the report’s scenario, this would require the share of electricity as a portion of total energy use to more than double, from 23 to 51 percent.
2. Use a mix of low- to zero-carbon fuels to generate electricity. Declining costs for renewable technologies contribute in making this both technologically and economically feasible.
3. Become more energy efficient by lowering the intensity of energy used per unit of GDP by about two thirds. Read More
Also posted in Clean Energy
By Namrita Kapur, managing director, Corporate Partnerships
As President-elect Donald Trump puts together his fossil fuel-focused administration, the investment community is moving full speed in the opposite direction, instead putting their bets on emissions reductions and support for clean energy.
Some recent developments:
- Investors controlling more than $5 trillion in assets have committed to dropping some or all fossil fuel stocks from their portfolios, according to a new report tracking the trend.
- Climate change criteria shape the investment of $1.42 trillion in assets under management, a more than fivefold increase since 2014. Clean technology is now a consideration incorporated by money managers with $354 billion in assets under management.
Also posted in Clean Energy
New installed renewable energy capacity surpassed coal for the first time last year, the International Energy Agency reported recently.
It means that we added more wind and solar to our global energy system than oil, gas, coal or nuclear power combined – a trend that is expected to continue over the next five years.
But to truly transition to a global clean energy economy, we must accelerate this growth rate and modernize our electricity grid to maximize the potential of these new renewables. That way we can use as much clean energy as possible on any given day.
Many of these optimizing solutions already exist today.
They include technology such as powerful batteries that can store energy when renewables don’t produce electricity, for example, when the sun is shaded by a cloud.
There are also energy management tools such as demand response that pay customers for saving energy at critical times when the grid needs it. And innovative electricity pricing programs that encourage customers to shift some of their power use to times of day when clean energy sources are plentiful and electricity is cheaper.
All can, with the help of good policy, make the most of variable energy sources – as would a modernized and more dynamic electric grid. Read More
By Laura Sanchez, EDF Climate Corps 2016 Fellow
Like many booming cities, Texas’ capital is experiencing overwhelming demand for affordable housing. Austin’s Mayor Steve Adler highlighted the affordable housing crisis shortly after taking office in January 2015, and urged the use of Property Assessed Clean Energy (PACE) to help encourage affordability. PACE enables commercial, industrial, and multifamily property owners to improve the water or energy efficiency of their buildings – without having to worry about steep upfront costs. Investing in these types of upgrades can reduce a property’s operating costs, as well as tenants’ utility bills.
That’s why I spent this past summer with Environmental Defense Fund (EDF), as an EDF Climate Corps Fellow with Texas PACE Authority, the PACE program administrator in the state. In June 2016, Mayor Adler created a committee of housing experts to determine how to leverage PACE for affordable housing. Alongside the committee, I worked to size up the opportunity, benefits, and challenges of using PACE to help pay for upgrades to affordable multifamily-housing properties.
After conversations with officials and program administrators from over 30 public for-profit and non-profit entities, we found there are significant opportunities – in Texas and nationwide – for the affordable multifamily-housing sector to leverage PACE. We are proud to present a new whitepaper that can serve as a guide to unlocking water, energy, and cost savings. Read More
By Ellen Shenette, EDF Climate Corps Analyst
It’s no secret that renewable energy is becoming cheaper, and while we’ve seen companies like Google and Microsoft investing in utility-scale renewables, what about mainstream corporate America? Are large corporations jumping on the clean energy bandwagon or are they dragging their feet? As a data analyst at EDF Climate Corps, I turned to the numbers for answers. Fortunately, I didn’t have to look far. An analysis from our recently release report: Scaling Success: Recent Trends in Organizational Energy Management, says it all.
For almost a decade, EDF Climate Corps has been partnering with business to save money and reduce greenhouse gas emissions by improving energy efficiency through our graduate fellowship program.
As I followed the numbers, a new clean energy trend stood out: over the last 5 years, clean and renewable energy projects have grown five-fold, with 1/3 of our partner organizations working on at least one clean energy project in 2015. Companies have been using their EDF Climate Corps fellows to decipher the complex landscape of technologies, policies, procurement strategies, and financing options for renewable energy. As we tally the results for our 2016 fellowship program, we expect the focus on clean energy to continue to grow, and don’t plan on it stopping anytime soon.