CBEYond the Moment: Climate-Smart Investment for the Challenges Ahead
In this evolving series, we offer deep-dive analyses, q & as with policymakers and experts, and technical primers. Together, they'll support the conviction that we can lead an intelligent recovery by targeting capital to fossil-free projects.
Before it shut down and reopened its economy, Germany stood out for policies the government called the Energiewende, which sought to convert Europe’s largest economy to run only on fossil-free sources. Covid-19 froze its implementation, as it has frozen much of the world. Now Germany has reopened schools and businesses. While some argue that COVID-related pressures will curb enthusiasm for the conversation on climate change, others believe that the need for economic stimulus could create fiscal space for policymakers to rebuild a cleaner, more sustainable world. This debate is beng held in virtual board rooms and city halls across Germany...
When the national economy kept churning, state-level green bank leaders crafted ways to help low-income and working communities to afford cleaner power. Now that the Covid-19 crisis has plunged the nation into an unemployment trough, a set of case studies from states hints at what kind of workforce and capital growth can flow from a national climate bank.
Projects to succeed fossil fuel can put millions to work in the wake of the Covid-19 shutdown. Politicians who embrace that idea, argues Coalition for Green Capital Executive Director Jeffrey Schub, can find a clap on the metaphorical back from the public. With polls showing three-fourths of a bipartisan sample favoring government investment in clean-energy jobs, the Coalition has kept arguing for a National Climate Bank and detailing plans for progress without one.
What's on the horizon for New Jersey after the Covid-19 crisis? When we spoke with Joseph Fiordaliso, the president of the state's Board of Public Utilities, the vision includes electric cars and buses, wind turbines in the ocean, and busy factories making wind-energy equipment. A Newark native with a crackly voice, Fiordaliso has regulated utilities in three Garden State administrations.
How can we shine a light on the smart choices for the long term in this confusing moment? Among other things, we can strike up conversation within our community. While most of us work from home and hang back from the ways we'd normally convene, we'll be sharing more insights from across the CBEY network. Here, economist Ken Gillingham lays out what the oil shock might mean for solar markets' progress- and how that progress can persevere.