Business leaders from Apple to Lockheed Martin threw down the gauntlet on climate change yesterday, declaring that the private sector must start taking green growth seriously. Speaking on the eve of a climate change mega-summit hosted by U.N. Secretary-General Ban Ki-moon, industry officials representing hundreds of businesses embraced a price on carbon, boosting renewable energy, eliminating deforestation in supply chains and reducing greenhouse gas emissions.
President Obama today declared the United States is “stepping up to the plate on climate change,” claiming America has cut more carbon emissions than any other nation on Earth over the past eight years. Speaking before world leaders convened by U.N. Secretary-General Ban Ki-moon for the first-ever heads of state summit on global warming, Obama declared unequivocal support for a new international agreement. He repeatedly said the United States will lead but called on other major emitters, particularly China, to march in lock step. The two largest emitters in the world have a special responsibility to lead,” he said. “It’s what big nations have to do.
The Interior Department today released a sweeping draft plan to manage development of renewable energy projects across a vast swath of public and private lands in the Southern California desert to guide projected solar, wind and geothermal development over the next three decades that’s expected to power millions of homes and businesses.
Wyoming — already the site for the nation’s biggest wind farm project — would be home to another $8 billion wind farm under a proposal unveiled by four companies Tuesday. The project, backed by Duke Energy Corp., Dresser-Rand Group and two others, would consist of a 2,100-megawatt wind farm in southeast Wyoming, a 525-mile power line and an energy storage facility. Phil Anschutz’s Denver-based Power Company of Wyoming already is developing a $9 billion, 10,000-megawatt wind farm in south-central Wyoming and 725-mile TransWest Express transmission line.
U.S. Secretary of State John Kerry said Monday the United States could potentially unlock a $6 trillion energy market by revamping the country’s fractured electricity grid, a move that he said would boost the competitiveness of renewable energy. Kerry addressed the opening event of Climate Week NYC, a day before over 120 heads of state were due at the United Nations to address a summit on climate change and national plans to limit greenhouse gas emissions. While Kerry lauded progress on addressing climate change by the Obama administration, he said the country has a huge opportunity to scale up the use of cleaner energy by modernizing what he called its inefficient electricity infrastructure.
The 2011 meltdown at Japan’s Fukushima Daiichi nuclear plant — the premise of a new Brookings report — served as the backdrop to Friday’s discussion as each expert detailed how both countries had incorporated green energy in a nuclear-energy-hesitant atmosphere. “Germany has remarkable consensus on the overall objectives they want to achieve,” said John Banks, one of the authors of the report.
Engineers at one university have the chance to make a big difference in the wind energy industry. According to a media release, the U.S. Department of Energy awarded engineers at Iowa State University $1 million to study how high-strength concrete can be used to build taller wind turbine towers.
Kerry’s comments at the opening of Climate Week events here were his second in as many days pledging that the United States is moving ahead domestically and pushing others to do more. He touted the Obama administration’s plans to regulate power plant emissions and claimed the United States has done more to cut carbon in the past five years than in the past 20 combined. “It doesn’t cost more to deal with climate change. It costs more to ignore it and put our head in the sand and continue down this road of obfuscation and avoidance. And we need to make it clear to the people of this country,” Kerry said.
Calif. pension fund vows to increase clean energy investments 150%, calls for price on carbon emissions
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.
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.