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With a Record $1.4 Trillion in Sustainability Assets, Investors Bail on Fossil Fuels

10576941554_3ea18da787_cBy 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.

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Posted in Clean Energy, Energy Financing / Read 1 Response

EDF Methane Mapping Partnerships Accelerate Technological Advances in Gas Utility Sector

googlecar2The New York Public Service Commission recently approved plans by National Grid, the largest distributor of natural gas in the Northeast, to use advanced leak detection and quantification technologies developed by EDF and Google Earth Outreach in order to maximize the environmental and ratepayer benefits of a three-year, $3 billion capital investment program. This program includes plans to replace 585 miles of old, leak-prone pipes on the company’s systems in Long Island and parts of New York City.

The Commission’s December 16 order marks a major step forward in EDF’s efforts to accelerate the diffusion of environmentally beneficial technologies – in this case cutting edge methane emission measurement tools – by natural gas utilities. Read More »

Posted in Energy Innovation, Methane, Natural Gas / Tagged | Comments are closed

States’ Environmental Commitments Are Key to Nation’s Clean Energy Future

ny-clean-lights“What happened to oil in the late 1970s?” was a question assigned to me in elementary school to discuss with family over the Christmas holiday break. At the time, this question seemed innocent enough, and I didn’t know how my family would react about what I soon learned to be two oil embargos. Turns out when I brought it up one night, extended family members held a broad spectrum of views on the issue, and the question led to one of the most heated dinner arguments I can recall – until this year, at least.  This holiday, family discussions focused on the presidential election. Fierce conversation ensued on standout topics. But, to my dismay, energy and the environment were just an afterthought.

While it is clear that these topics did not play a decisive role in the election, 2017 will nevertheless bring a new set of challenges for energy and environmental policy and elevate the conversation to a higher level. Progress we’ve made in the past few years, including environmental protections and the continuity of agencies that support them, are at risk of being undercut by the new administration, and policies that will protect future generations are at peril.  At the federal level, the fight to stop climate change looks bleak.

As Environmental Defense Fund recently noted in California, Illinois, Maryland, and Ohio, clear and deliberate leadership at the state and local levels will become even more important to advance clean energy goals. Fortunately, New York’s history of advancing favorable environmental policies have resulted in valuable lessons that can be adapted and implemented in other states to increase economic development, create jobs, decrease pollution, and improve the quality of life of people throughout the country. Read More »

Posted in Clean Energy, New York, New York REV / Comments are closed

Recent AEP Decision in Ohio a Mixed Bag for Clean Energy

free_electric_power_lines_and_blue_sky_creative_commons_attribution_9368799968Market forces and technology are increasingly making old, dirty power plants uneconomic, which creates an opportunity for clean energy progress and cleaner air. However, outdated rules and entrenched interests can complicate the path to a healthier energy economy, as evidenced by a new settlement in Ohio.

The Public Utilities Commission of Ohio (PUCO) recently approved an American Electric Power (AEP) settlement that contains both promising and discouraging components.

The PUCO decision forces AEP to reconsider its ownership of power-generating plants. Realizing old coal-fired units can no longer compete against newer natural-gas and renewable facilities in deregulated markets, AEP suggests it faces two options, one being to ask Ohio legislators to overturn the state’s deregulation law, allowing AEP to return to the less-risky days of guaranteed profits on any of its power plants.

However, a recent study by Ohio State University and Cleveland State University found that the competition enabled by deregulation allowed Ohio customers, businesses, and industries to save $15 billion on electricity over the past four years and is expected to save the same amount by 2020. If the state were to return to a regulated system, Ohioans could miss out on those billions of savings. Read More »

Posted in Clean Energy, Ohio, Utility Business Models / Comments are closed

How Maryland Tackles Grid Modernization Could Have Big Impact

15671323838_0aac227627_bThe need to plan for and design a more efficient, cleaner, and resilient electricity grid has never been greater. Our aging grid is ill-prepared to keep pace with rapid technological advances and an increasingly distributed, dynamic energy system. A greater number of customers are producing electricity themselves, demanding expanded energy choice and a more interactive relationship with their utilities. In the meantime, an increased number of severe storms in recent years keep pressing the need for resilience. In order to meet these challenges, we need to look beyond traditional planning solutions for how we make, use, and distribute electricity.

This year has seen a flurry of activity on grid modernization in states across the U.S. As 2016 comes to a close, the spotlight is on Maryland as it joins the ranks of states investigating how to transform our electric system. Read More »

Posted in Clean Energy, Data Access, Energy Innovation, Grid Modernization, Utility Business Models, Voltage Optimization / Comments are closed

Could Rick Perry Forego his Special-Interest Past for a Clean Energy Future?

rick-perry-by-gage-skidmore-flickrBy now you may have heard that Rick Perry, former Governor of Texas, is President-elect Trump’s pick for Energy secretary. If appointed, he will be succeeding Samuel Bodman, Doctor of Science in chemical engineering from MIT; Steven Chu, PhD in physics from the University of California, Berkeley; and Ernest Moniz, PhD in theoretical physics from Stanford University.

Since the majority of the budget of the Department of Energy (DOE) is spent on nuclear waste clean-up and very technical research projects, the fact that Gov. Perry doesn’t measure up to his predecessors in his scientific credentials is disappointing. All the more so that his track record is one of unquestioning support of highly polluting interests in his state.

I have written about Perry plenty of times, so it should come as no surprise that I am less than thrilled with the idea of him heading the same department he famously declared he would eliminate.

Put simply: The appointment of Rick Perry is “open season” on the environment, and all who care about the health of their families should be concerned. Time and again, he has put polluters over people for political gain, and leveraged backroom deals with special interests — the rest of the economy and the air be damned. My only hope is that he takes to heart the jobs and economic growth resulting from Texas wind power, and uses it to steer the DOE toward fostering a thriving clean energy economy. Read More »

Posted in Clean Energy / Comments are closed