Clean Energy Victory Bonds Gaining Momentum

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Building on growing bipartisan momentum, Green America, the nation’s leading green economy organization, will continue to promote Clean Energy Victory Bonds in Congress. An amendment to the Senate Energy Bill (S. 2012) proposed by Senator Udall (D-N.M.) that would advance Clean Energy Victory Bonds did not achieve 60 votes as needed, but did receive growing bipartisan support yesterday in a […]

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Update – US Banks Still Investing Heavily in Coal

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Banktrack.org released an updated review of various financial institutions’ holdings in dirty coal energy. Green America promoted a scorecard earlier this year outlining the banks that were the strongest supporters of coal extraction and electricity production. The lowest marks went to Wells Fargo (D+), Bank of America (D-), Citi (F) and Chase (F). Of course, each of these banks has […]

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CEVBs at the Congressional Renewable Energy Expo

This July, Green America attended the Congressional Renewable Energy Expo on Capitol Hill to tell policy makers and clean energy industry leaders all about the Clean Energy Victory Bonds Act of 2014. The bill, which has been introduced to the House of Representatives by Zoe Lofgren (D-CA), seeks to provide new financing for clean energy projects including wind, solar, and geothermal, as well as home and commercial energy efficiency technologies. The Environmental and Energy Study Institute (EESI) stopped by our booth to ask us a few questions about CEVBs. Watch their interview below, read more about the bill here, and contact your Representative and urge him or her to support clean energy in the US.

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New Tool for Fossil Fuel Divestment

The Fossil Free Index tracks the stock market’s performance, minus the oil, gas, and coal industries.  Given the link between burning fossil fuels and global climate change, financial professionals are increasingly searching for investment opportunities that exclude oil, gas, and coal companies. Fossil-Free Indexes LLC (FFI), an environmental, social, and governance index and research company released its first broad American market fossil-free index last week. The announcement of the new index is a timely contribution to the growing fossil fuel company divestment movement across the country.  Market indices represent the value of an entire stock market at a single moment, and may be used to track changes over time. The Fossil-Free Index is based on the Standard & Poor’s 500 index, omitting any fossil fuel companies identified by FFI’s “The Carbon Underground 200,” a proprietary list cataloguing some of the most carbon-intensive investment options. The release of the index, coming in the same week as the Rhodium Group’s “Risky Business” report on the broad economic effects of climate change, strengthens the message that a warming globe is most certainly not good for businesses. As rising temperatures and more intense weather events become commonplace, so do the risks of damage to critical infrastructure and natural resources. By seeking out opportunities for economic growth while minimizing the negative effects of greenhouse gas emissions (by decentivizing them altogether), investors can help shift focus away from climate- damaging fossil fuels, and towards efficient, clean, […]

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President Obama: “Invest in What Helps, Divest from What Harms.”

This past weekend, President Obama delivered a commencement speech to UC Irvine, in which he urged the graduating class to take challenges related to climate change seriously.  In his address, the President called out members of Congress for resisting efforts to address climate change, asserting that there was no substance behind some peoples’ rejection of the scientific consensus on the issue. The President used his speech to announce a $1 billion dollar fund, the National Disaster Resilience Competition, to be made available to states having endured a  national disaster between 2011 and 2013 for the purpose of rebuilding infrastructure to better withstand shocks from the environment. He also stated that this graduating class’s generation, which includes the largest age group in the country (22), faces many challenges and opportunities in dealing with this issue ahead. “We need scientists to design new fuels.  We need farmers to help grow them.  We need engineers to invent new technologies.  We need entrepreneurs to sell those technologies. We need workers to operate assembly lines that hum with high-tech, zero-carbon components.  We need builders to hammer into place the foundations for a clean energy age.  We need diplomats and businessmen and women, and Peace Corps volunteers to help developing nations skip past the dirty phase of development and transition to sustainable sources of energy…You need to invest in what helps, and divest from what harms.” The President’s address should serve as a reminder that we face the […]

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U.N. Reports on Climate Change Mitigation

The latest installment of the U.N’s fifth Climate Assessment Report explores what we must do in order to lessen the negative impacts of a changing climate.  As our understanding of climate change continues to develop, we hear more and more about a few particularly important numbers: to ensure that average global temperature increase does not exceed 2oC by the year 2100, we mustn’t allow the atmospheric concentration of carbon dioxide to exceed 350 ppm (parts per million). Currently, the atmospheric concentration of CO2 is about 400ppm, with an additional 2ppm emitted each year. Accounting for population and economic growth, CO2 concentrations are projected land between 750 and 1,300 ppm by the end of the century. To offset the emissions resulting from this growth, we need to substantially cut emissions by 2050 (by 40-70%), and to completely cease emissions by 2100. The Intergovernmental Panel on Climate Change, or IPCC, released its third working group summary this weekend in Berlin, Germany, as a part of its fifth Climate Assessment Report. Previous working group summaries have tackled the physical scientific aspects of changing climate systems, as well as impacts, adaptations, and vulnerabilities for people across the globe. The latest installment examines the topic of mitigation: the “human intervention to reduce the sources or enhance the sinks of greenhouse gases.” There are currently great efforts underway to achieve both goals of greenhouse gas mitigation. Forests are one of our most valuable carbon sinks; trees […]

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Clean Energy Victory Bonds Act of 2014 Introduced by Reps Lofgren & Matsui

Today, US Representatives Zoe Lofgren and Doris Matsui, along with 15 original co-sponsors, introduced the Clean Energy Victory Bonds Act of 2014. The bill is now before the House of Representatives, and not a moment too soon. The Clean Energy Victory Bonds Act of 2014, or CEVB for short, is modeled after one of the most successful fundraising efforts in US history. In World War II, millions of Americans purchased over $185 billion (over $2 trillion in today’s dollars) worth of Victory Bonds issued by the United States Treasury, in order to fund the war effort. The bonds allowed citizens to invest directly in the materials and technologies needed to achieve victory in one of the most destructive wars in human history. Today, however, we face different problems – a rapidly changing climate, rising sea levels, and more intense weather events like Hurricane Sandy put our infrastructure and economy at risk. Our outdated energy systems continue to inefficiently burn fossil fuels, and the extraction of these fuels continues to degrade ecosystems across the planet. Renewable energy and energy efficient technologies are a promising solution to these crises, but a lack of funding makes them unappealing to industrial-scale investors. The United States also risks losing its position as a clean energy leader.  China, Germany and other nations are outspending the US in the clean energy race and are already seeing the benefits of increased jobs and plentiful clean energy. Clean Energy […]

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