A duo of recent announcements underscore the clear direction the Texas grid is headed: toward more renewable energy, storage, energy efficiency and sophisticated demand-side management resources and away from coal.
That means less climate and local air pollution, of course. But it also means more local jobs, less volatile energy costs, a more stable and reliable grid and yet another opportunity for Texas to reap the economic benefits that come with being an energy pioneer.
Two fundamentally different methods EDF is using to measure and understand methane emissions in the Permian Basin are producing strikingly similar results. The mutually reinforcing sets of data — one gathered using aircraft, the other by satellite — each show that oil and gas operators in the region are releasing more than 3.5% of the natural gas they extract from the ground into the atmosphere as methane pollution.
That’s roughly twice the average rate found in 11 other major U.S. oil and gas basins. The wasted gas in the Permian is enough to supply 2 million American homes for a year.
The first of these efforts is EDF’s year-long PermianMAP, which tracks emissions from the ground and in the air, and takes the unprecedented step of publishing data online in near-real time to help industry and officials reduce those emissions, while letting the public see the results. The other is the first peer-reviewed scientific study to take direct measurement of Permian emissions, using the European Space Agency’s TROPOMI instrument.
A few weeks ago, EDF’s Ben Ratner spoke extensively with Brian Rice, a portfolio manager at California State Teachers’ Retirement Systems about key issues in environmental social and governance investing.
CalSTRS is the largest educator-only pension fund in the world with roughly $243 billion in managed assets. EDF has been working closely with the firm on corporate engagement for more than five years.
This is the first of a two-part Q&A series with CalSTRS examining prospects on ESG and climate investing through the energy transition. This portion of the discussion explores the rise of ESG, the importance of policy, and what comes next for companies with net-zero commitments.
California is continuing its leadership on climate change by eliminating carbon from the economy and our daily lives. In fact, California has a law to create a carbon neutral electric grid by 2045.
This spring, our state took two important steps to support these efforts.
Decarbonizing our buildings
Approximately 25% of the state’s greenhouse gas emissions come from residential buildings. Because these buildings come in all different shapes and sizes, we need different strategies to reduce their emissions.
California recently released new details of a plan to bring more affordable electric trucks, vans and buses to market while also reducing harmful air pollution. The latest proposal reflects calls from California Air Resources Board members to increase the number of electric trucks sold under the rule and to ensure that the benefits of cleaner air they bring will reach disadvantaged communities.
If adopted, the state will require truck manufacturers to produce more electric or zero-emission vehicle options. Beginning in 2024, at least 9% of vocational trucks (like package-delivery vans and beverage-delivery box trucks) will need to be electric (or another kind of ZEV). By 2035, nearly 75% of these trucks will be electric or ZEV. The proposal sets similar schedules for other truck types.
By Jon Goldstein and Colin Leyden
This week a study drawing on nearly a year’s worth of satellite data revealed that Permian methane emissions are the highest ever measured from a U.S. oil and gas basin.
As the federal government continues its rollback of methane safeguards, public attention is now trained on policymakers and companies in Texas and New Mexico — two leading oil producing states that straddle the Permian Basin.
While New Mexico Gov. Michelle Lujan Grisham forges ahead on nation-leading rules to curb oil and gas methane waste and pollution, state leaders in Texas have yet to get serious about a problem that could undermine the industry’s viability in an economy that increasingly prioritizes cleaner sources of energy.