The California State Teachers’ Retirement System announced Friday that it would increase its investments in low-carbon generation and technologies to $3.7 billion within five years, up from $1.4 billion today. The investment could grow to several times that amount if a price on carbon is established, fund executives said. CalSTRS, as it is known, is the world’s largest educator-only pension fund, with roughly $188 billion in investments. It provides pensions and other benefits to California’s 868,000 public school teachers and their families.
Calif. pension fund vows to increase clean energy investments 150%, calls for price on carbon emissions
In recent years, 180 institutions — including philanthropies, religious organizations, pension funds and local governments — as well as hundreds of wealthy individual investors have pledged to sell assets tied to fossil fuel companies from their portfolios and to invest in cleaner alternatives. In all, the groups have pledged to divest assets worth more than $50 billion from portfolios, and the individuals more than $1 billion, according to Arabella Advisors, a firm that consults with philanthropists and investors to use their resources to achieve social goals.
A group of House Democrats yesterday introduced a bill to reinstate more than a dozen expired clean energy tax breaks and to expand the eligibility of an existing credit that primarily benefits solar energy. The bill, H.R. 5559, from Reps. Earl Blumenauer of Oregon, Dave Loebsack of Iowa and 16 other Democrats, largely mirrors energy provisions in S. 2260, the existing “tax extenders” bill that is awaiting Senate action during the lame-duck session to renew a variety of business and individual tax incentives that expired last year. House Republicans have not been eager to extend the energy tax breaks, especially as the production tax credit (PTC) has become a huge target of conservative activists and elements of the nuclear and fossil fuel industries. But negotiations between the House and Senate are not expected to begin in earnest until lawmakers return after the November elections.
Within the CR itself are very few changes to existing appropriations law. It makes a few tweaks to keep weather satellite programs funding and allow for continued collection of certain park fees but otherwise maintains spending at an overall annual level of $1.02 trillion through Dec. 11 and keeps in place all existing policy riders. Both chambers adjourned yesterday and will not return until Nov. 12.
Top Obama administration officials touted a new program to install solar power in low-income Washington, D.C., homes today as the White House announced a new suite of executive actions to advance solar deployment and boost energy efficiency. U.S. EPA chief Gina McCarthy joined Housing and Urban Development Secretary Julián Castro, Council on Environmental Quality acting Chairman Mike Boots, and White House energy and climate adviser Dan Utech in the Ivy City neighborhood of northeast D.C. this morning to view new solar installations by the nonprofit GRID Alternatives on affordable homes developed by Habitat for Humanity.
Bill Ruckelshaus isn’t afraid of chest-pounding politicians. He’s famous for standing up to Richard Nixon. In October 1973, then-Deputy Attorney General Ruckelshaus resigned after refusing the president’s order to fire the Watergate special prosecutor in an episode known as the Saturday Night Massacre. And now, the legendary two-time U.S. EPA chief speaks freely about his disdain for his longtime political home, the Republican Party, what he sees as a pathetic Congress, and the reluctance of U.S. pols and policymakers to act decisively on global warming.
Don’t let the perfect be the enemy of the good. That was the message from top White House officials yesterday as they grappled with Republican critics of the Obama administration’s Clean Power Plan. The officials argued that action, even limited, is preferable to and less expensive than inaction on climate change.
The Midwestern Governors Association (MGA) recently met in Indianapolis to examine the tools available to states, the region, utilities and grid operators to meet the future challenges of grid and electricity reliability. The meeting, Empowering the Grid: Choices and Flexibility for Grid Operations and Utilization, took place September 16 – 17, and attendees included governors’ staff, state utility commissioners, utilities and other industry stakeholders. “Throughout the Midwest, states are grappling with ways to meet new environmental demands on electricity production and upgrading their transmission infrastructure. Sharing ideas on how to meet new requirements, as well as ensuring regional flexibility, is an important conversation that I am glad this meeting helped facilitate,” said Indiana Governor Mike Pence.
States within the Midcontinent Independent System Operator’s footprint could save billions of dollars complying with U.S. EPA’s proposed carbon rules for existing power plants by banding together and applying strategies beyond the four “building blocks” put forward by the federal agency, according to an analysis by the grid operator.
The Federal Energy Regulatory Commission today clarified that Bonneville Power Administration — a Department of Energy agency that operates the Pacific Northwest grid — won’t be required to enroll in transmission planning under FERC’s far-reaching Order 1000 rule.The commission unanimously approved Order 1000 compliance filings for WestConnect and ColumbiaGrid — a nonprofit corporation to which BPA belongs — that makes clear nonpublic utility transmission providers are not required to enroll in transmission planning under the rule. If BPA does join, it will be subject to the regional cost allocation method, FERC said.