A network of 54 central banks and industry supervisors formed in 2017 is looking for ways to develop a new framework for climate risk management in the financial sector. Many of the group’s members are also on the Basel Committee on Banking Supervision, which sets global capital requirements.
"The role of our financial regulators is to ensure sustainable, efficient markets that protect us from financial and economic disruptions. As we’ve seen over the years, however, they’re not always up to the task."
If there’s a silver lining to the Pacific Gas & Electric Company disaster, it’s that — in the midst of filing for bankruptcy — it has opened up the space for conversations about alternatives. And perhaps one of the most interesting of these conversations is based on the idea of transforming the utility into a network of cooperatives: utilities owned and managed by the ratepayers themselves.
In this interview, Susan Glickman, Florida director for the Southern Alliance for Clean Energy, discusses the status of clean energy development in the state. Glickman lays out policy battles over renewable portfolio and energy efficiency standards, the state’s history of natural gas consumption, growth in utility solar programs, and an effort to deregulate the state’s utility industry.
As Germany shuttered another of its nuclear power plants on New Year’s Day, the office of Indian prime minister Narendra Modi was said to be considering a proposal which would make coal more competitive with renewables in one of the world’s worst polluting nations.
In the past year, some climate change exchange-traded funds have outperformed and analysts expect the climate change theme to become a much bigger part of the stock market, taking its place as a large part of ESG investing and individual sectors.
Pennsylvania Governor Tom Wolf proposed Regional Greenhouse Gas Initiative (RGGI) legislation in the fall 2019 legislative season. By voting to join RGGI, Pennsylvania can reduce electricity rates, improve the state and regional economy, and make the state a leader in the global effort to combat climate change.
The fund has 70% less carbon emissions than its benchmark, the S&P/ASX 300 Total Return Index, because it’s typically underweight cyclical stocks in industries such as fossil fuels, steel and cement, transport and mining.
The Alliance for Clean Energy New York says in a report that putting a price on carbon will help New York meet its aggressive goal of 70% of its electricity coming from wind, solar and other renewable sources by 2030.
"In Washington and many other states, we are using innovation and cooperation to grow jobs and protect the planet. As Washington’s governor, I know firsthand the obstacles states face when they respond to increasingly devastating floods, wildfires, and earthquakes, and other catastrophes made worse by a changing climate."