Foundations don’t practice what they preach

by Stephen Viederman   Philanthropic foundations are like old-fashioned slot machines. They have one arm and are known for their occasional payout. Although the term “mission-related investing” found its way into the lexicon of philanthropy decades ago, the finance committees of most foundations continue to manage their endowments like investment bankers. Their portfolios give no hint that they are institutions whose purpose is the public benefit. There is a chasm between mission – grantmaking – and investment. The logic of a synergy between the two has yet to take hold. For example, number of reports circulated in the US...
GasolineGate

Report Alleges EPA Tests Skewed Against Ethanol By Oil Industry Influence

by Jim Lane In Washington, researchers for a report published by the Urban Air Initiative contend that “technical data that shows the nation has been exposed to decades of flawed test fuels and flawed driving tests, which in turn means flawed emissions results and mileage claims”.  The complete Beyond a Reasonable Doubt series from UAI is available here. Further, EPA emails obtained under the Freedom of Information Act reveal that, according to a report from Boyden Grey & Associates, the Agency appears to have directly solicited financial contributions and technical input, “especially on the fuel matrix,” from an oil industry controlled research organization. Of the...

Cap and Trade: Right Debate, Wrong Solution

David Gold          As we have seen in just the past few years, fossil fuel prices can vary dramatically over very short periods of time.  Creating greater certainty regarding steady increases in fossil fuel prices over the coming decade would have an enormous impact on private sector investments in both alternative energy and energy efficiency.  Cap and trade is the right debate to be having because it focuses the discussion on how to change the fundamental economics of fossil-based energy.  But ultimately cap and trade is the wrong solution; superior means exist to achieve the results...

The Microeconomics of Green Jobs

Tom Konrad Ph.D. CFA Much fuss has been made about green jobs. Do they exist, and are more “brown” jobs displaced for every green one? Given all the political rhetoric, it’s not surprising that there is also considerable confusion about green jobs. There should not be. While pinpointing the actual number of jobs created or destroyed by any particular policy will always be fraught, the underlying microeconomics are rather simple, and understanding those microeconomics can make it clear if a given policy will be a net creator or destroyer of jobs. While there are many considerations that should be...

Nature Conservancy Endorses Fossil Fuel Funded Trojan Horse

An article posted by ClimateLiabilityNews.org  Hearing Glosses Over Carbon Tax Proposal’s Liability Waiver  explains the ‘grand bargain’ being set forth in a proposal from the Climate Leadership Council. A Carbon Tax & Dividend plan is now being supported by big corporations, polluters and fossil fuel companies, which would seem to be a miraculous change in sentiment.  But the fine print discloses that the deal includes a liability waiver exempting fossil fuels companies from federal & state climate tort lawsuits.   The carbon tax is on the low end for “social cost of carbon” calculations, at $40/ton, so as a value...
garvin jabusch

Creating a Climate Resilient America: A Green Investment Adviser Testifies To Congress

The prepared remarks of Garvin Jabusch, Chief Investment Officer of Green Alpha Advisors before the House Select Committee on the Climate Crisis in Washington, DC, July 25th, 2019. Chairwoman Castor, Ranking Member Graves, committee members, thank you for the opportunity to testify and contribute to this important conversation. Climate disruption and resource degradation present significant threats to and opportunities for American business. Every sector and industry are affected, and my industry of asset management, in its role deploying capital across the economy, is directly exposed to it all, risks and opportunities inclusive. First, risks. The purpose of investing is to preserve and...

Is The Big Win For The Liberals In Canada Also A Big Win For...

Jim Lane Liberals sweep to victory in Canada; Trudeau to become Prime Minister, pledging sharp increases in infrastructure investment and a renewed focus on clean technology. In Canada, the Liberal party, under the leadership of 43-year old Justin Trudeau, swept to victory in the Canadian federal elections. As of 6am Eastern time, the Liberals have won 184 seats 14 seats more than needed to form a majority government. Prime Minister Stephen Harper’s Conservative Party won in 99 ridings, a loss of 60 seats, while the New Democratic Party has reeled in 44 seats, a...

Obama’s New Energy and EPA Appointments

Jim Lane   Ernest J. Moniz is the nominee for US Secretary of Energy In Washington, President Barack Obama nominated MIT professor Ernest J. Moniz as US Secretary of Energy, replacing Steven Chu, and nominated Gina McCarthy as EPA Administrator. Moniz is currently serving as the Cecil and Ida Green Professor of Physics and Engineering Systems, as well as the director of the MIT Energy Initiative (MITEI) and the Laboratory for Energy and the Environment. He was formerly undersecretary of Energy and associate director of the White House office...

Election Does Not Spell Cleantech Doom

With the recent “shellacking” (as President Obama referred to the election results) of the Democratically controlled Congress, much of the buzz in the cleantech space has been doom and gloom.  Is cleantech doomed to a new dark age?  I do not believe so. Energy policy is one area where there is an overlap of goals between the parties.  Members of both parties largely agree that energy is critical to our economic and national security.  And most Republicans do not dismiss out of hand the risks of global warming. I suspect that energy policy will be...

350.org’s Smart New Campaign

Garvin Jabusch Many parallels exist between the college campus divestiture campaigns of the 1980s and today. Both were/are seeking to apply intense student and community pressure to persuade boards of trustees to get endowment monies out of investments in businesses or locations perceived as undesirable. In the '80s it was South Africa and Apartheid that students objected to. Back then, one could almost conceive of college students versus a beleaguered South African government as something of a fair fistfight between entities with comparable chances of winning popular opinion and thus investment dollars to their side. And indeed the students...

Trump to Health, Education, Small Business, and the Environment: You’re Fired!

Jim Lane  Good-bye ARPA-E, DOE, Loan Guarantee program, Energy Star, OPIC, USTDA, NEA, and the Advanced Technology Vehicle Manufacturing Program. Even Big Bird gets the guillotine. In Washington, the White House released its budget requests for 2018, a high-level, 62-page overview of President Trump’s strategy for “Making America Great Again”. Departmental impact In order of percentage impact, the departments are as follows. Defense: Up $52B or 8 percent Veterans Affairs: Up $4.4B or 6 percent  Homeland Security: Up $2.8B or 7 percent Small Business Administration: Down $43M or 5 percent Health & Human Services: Down $15.1B...
cdg roles

Clearing Up Some Confusion Over Community Solar In New York

Community Solar in New York has a messaging problem. It is confusing, and even some industry professionals have given up in disgust because of aggressive marketing and a lack of clarity. Fortunately, aggressive marketing is not universal among community solar developers. Unfortunately, the lack of clarity is almost universal. How Community Solar Works in New York The system the New York utility regulator set up for community distributed generation (CDG, a term which includes community hydropower and community wind as well as community solar) is counter intuitive for most potential customers. As shown in the diagram above, the electric utility pays for a project's...

Discom-fort: Barriers to Renewables in India

by Ishaan Goel Energy is crucial to India’s policy agenda. Millions of households are yet to gain reliable access to electricity, hampering their potential for economic growth. Severe pollution issues create widespread health problems. Renewables are prioritized as viable solutions across the political spectrum, with their low costs and ease of installation in remote regions. The current administration has ambitious plans for renewable energy (RE), targeting an almost 4x increase in installed capacity to 450 GW by 2030 and introducing a spate of tax and investment reforms. At the heart of the Indian power supply chain lie distribution companies (discoms). The...
CAFE LCFS CAA RFS braid

Low Carbon Fuel Rules: From CAFE to LCFS and Everything In Between

The Whole Darn Low Carbon Landscape. How they Work, How they Work Together, and How they Might Work Better by Joanne Ivancic, executive director, Advanced Biofuels USA The Trump Administration is taking a new look at Obama Administration era Co2 regulations.  On the transportation side, these include reviewing Corporate Average Fuel Economy (CAFE) standards; threatening to take away California’s authority to set their own mileage and pollution controls, including CO2 (carbon dioxide) emission reduction standards; and quarreling with the petroleum and biofuels industries over implementation and enforcement of the Renewable Fuel Standard (RFS). Thus, the Clean Air Act (CAA), California’s unique authority...

Warren Buffett: Closet Tree-Hugging Billionaire

By Jeff Siegel Is Warren Buffett sending mixed messages on green energy? That's what the folks over at Bloomberg Business have suggested. But nothing could be further from the truth. After all, Buffett's making a fortune in the alternative energy space. Yet here's what was reported in Bloomberg this week: Warren Buffett highlights how his Berkshire Hathaway Inc. utilities make massive investments in renewable energy. Meanwhile, in Nevada, the company is fighting a plan that would encourage more residents to use green power. Berkshire’s NV Energy, the state’s dominant utility, opposes the proposal to increase a cap on...

From Paris to Drawdown

by John Fullerton Yes, it was a shameful poke in the world’s eye by the dangerously narcissistic, temporary occupant of the White House. Like other unconscionable and unfathomable acts of the early 21st centurya period of historic great change alreadyTrump’s pulling out of the Paris Climate Agreement has sent me searching for the deeper meaning of it all, while the pundits flail away.   The attack on the World Trade Center, an iconic symbol of globalization if there ever was one, triggered for me a period of introspection and a personal existential crisis as it opened up...
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