Financing a Greener Planet Volume I: Catalyzing Private Capital for a Net Zero Emissions World

Given the scale of the issue, Citi GPS has published Financing a Greener Planet in two volumes. This volume, Volume I — Catalyzing Private Capital for a Net Zero Emissions World — focuses on the three factors which indicate we are at a tipping point on climate action — policy and regulation, innovation, and green momentum in the investor community. Volume II — Bridging the Gap between Green Investment and Investors — is dedicated to the financial options available to close the massive climate investment gap.

Section 1: The world is reaching a green tipping point focuses on governments and …

China and the Rare Earth Supply Chain

Rare earth elements are used in the production of high tech devices such as defense equipment (e.g. radar systems and guided missiles) and energy technologies (e.g. electric vehicles and wind turbines). China dominates the supply chain of rare earth elements, having 37 percent of proven reserves, producing 63 percent of global output, and housing about 85 percent of the processing capacity. The United States is much, much more dependent upon China for the rare earth minerals necessary for renewable energy technologies than it ever was on the Middle East for oil imports. The U.S. Department of Defense is funding two …

Countdown to Shutdown: California’s Clean Energy Future after Diablo Canyon

The upcoming retirement of Diablo Canyon, California’s last nuclear power plant, is a major milestone.

State law requires the replacement of Diablo Canyon without increasing global warming emissions; however, to date, no action has been taken specifically to replace the zero-emissions energy from the power plant. Using grid modeling tools to analyze California’s electricity sector emissions, the Union of Concerned Scientists found that, without further action, cumulative global warming and air pollution emissions will be significantly higher over the next decade due to the retirement and replacement of Diablo Canyon primarily with energy from existing natural gas power plants.

To …

2030 Greenhouse Gas Emissions Reduction Act Plan

The 2030 GGRA Plan sets forth a comprehensive set of measures to reduce and sequester GHGs, including investments in energy efficiency and clean and renewable energy solutions, clean transportation projects and widespread adoption of electric vehicles, and improved management of forests and farms to sequester more carbon in trees and soils. In addition to reducing GHG emissions, these measures will make our economy stronger, create thousands of Maryland jobs, and improve the health of communities throughout the state. The plan advances each of these measures with an eye toward how they can best benefit overburdened and underserved communities and address …

Climate Insights 2020: Synthesis Report

The synthesis report of the Climate Insights 2020 survey, a joint effort to examine American attitudes on climate change by researchers at Stanford University, Resources for the Future, and ReconMR, provides insight into what Americans think about climate, electric vehicles, natural disasters, and more.…

Have We Reached Peak Carbon Emissions?

Has the world reached peak carbon emissions?

Depending on how nations manage their COVID-19 stimulus plans, the answer may well be “yes.”

The thought-experiment itself is revolutionary given that up until a few months ago all we could see were a few states and countries making progress with the backdrop of a world still exponentially increasing in greenhouse gas pollution. COVID-19, of course, opens the opportunity to not only take advantage of the drop in emissions, but to #BuildBackBetter, namely with renewable energy and not fossil-fuel infrastructure.…

Chasing Carbon Unicorns: The deception of carbon markets and “net zero”

Powerful actors are using “net zero” pledges to hide their climate inaction. Stopping the climate crisis requires us to stop burning fossil fuels – no magical thinking will solve this problem, just immediate action and system change. But transnational corporations and governments are hiding behind the “net” in “net zero” – claiming that they just need to pay someone else to remove carbon, through carbon offsetting, rather than taking action on their own.

This report unpacks the science behind “net zero” claims and how they are used to obscure climate inaction. It explores the new strategies to expand carbon …

Assessing the Long-Term Impacts of COVID-19 on Electricity Consumption

On March 11, 2020, the World Health Organization declared the COVID-19 outbreak a global pandemic, sending the United States economy reeling. In 11 months, the virus has spread to every corner of the country. Public safety guidelines from the Centers for Disease Control and Prevention, interstate and international travel bans, and local restrictions on public gatherings have fundamentally changed the daily lives of Americans, reshaping the way we use energy. As the U.S. recovers from the pandemic, it remains to be seen which changes rebound and which leave permanent marks on the energy landscape and electricity consumption.

This report …

Clean Energy Standards: Selected Issues for the 117th Congress

For many years, policies to reduce greenhouse gas (GHG) emissions have been of interest to Congress. Congressional and constituent interest continues in the 117th Congress. One option to reduce GHG emissions from electricity generation is a clean energy standard.

A clean energy standard (CES), sometimes called a clean electricity standard, is a policy that requires a minimum share of electricity to be generated from eligible “clean” sources. No universal definition of clean energy exists, and proposals differ in what technologies are included. Some proposals, usually referred to as a renewable portfolio standard (RPS), include only certain renewable energy sources (e.g., …

New Banking Regulations to Boost Renewable Energy Investment in Low-and-Moderate-Income Areas

What if a change in Community Reinvestment Act (CRA) rules could simultaneously address two important renewable sector concerns, providing greater access to renewable power for those in low- and moderate-income (LMI) communities and attract new interest from tax equity investors? And what if the change has already been made, and the new rules take effect on April 1?

This is no April Fool’s joke. Last fall, the nation’s top banking regulator revised CRA regulations to create new regulatory incentives for renewable energy investment in LMI communities. Starting April 1, 2021, the Office of the Comptroller of the Currency (OCC) will …