No, it has nothing to do with GameStop. A SPAC, or special purpose acquisition company, allows legitimate up-and-comers whose profits lie in the future to tap cash for building climate solutions now. David Crane, a veteran of climate-transition management, explains SPACs' potential to steer capital to a necessarily risky group of companies.
When an economy freezes, does it chill utility executives' ability to transform their energy sources? Macky McCleary, who directs energy, telecommunications and infrastructure for consulting firm Guidehouse, says the world will have to keep drawing more and more power from fossil-free sources- but he also warns that the United States may bungle the post-Covid recovery and thus thwart utilities' progress. Utilities figure to benefit from capital provisions that stoke the economic recovery- if and only if the federal government can lay out plans for public safety and retraining. We share McCleary's insight as we continue rolling out "CBEYond the Moment."
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.