Clean Energy Victory Bonds Gaining Momentum

CEVB_logo_tag-180x180

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 […]

Read More →

Environmental Costs Outweigh Corporate Profits

The 2015 State of Green Business report was just released, detailing the environmental performance of large companies around the world. The report, produced by GreenBiz and TruCost, illustrates the true costs of pollution, ecosystem depletion, and health impacts of unsustainable natural capital consumption by corporations and the alarming rate at which they are growing. According to the report, environmental costs, like greenhouse gas emissions and water abstraction (removing freshwater from the natural water cycle, and thus preventing its future use), would render most businesses unprofitable if they were responsible for paying for the impacts. The report found that environmental costs tallied up to $1 trillion (or 6.2% of GDP) for companies in the US, and $3 trillion worldwide. The authors state, “Over the past five years, the proportion of company profit at risk consistently exceeds 100 percent of their profit… This means that, on average, companies would be unprofitable if they had to pay the actual costs associated with the commodities they consume and pollution they generate.” It’s not all bad news, however. The report finds that the level of sustainable investment has been growing considerably in recent years. According the 2014 Trends Report published last November by US SIF: The Forum for Sustainable and Responsible Investment, cited in GreenBiz’s report, sustainable assets totaling $6.57 trillion represented almost 18% of the $36.8 trillion in total assets under management, a 76% increase over 2012. Social investors, joined by non-profits and growing consumer […]

Read More →

EPA Speaks Out on Keystone Pipeline  

The Keystone XL Pipeline, which would carry roughly 830,000 barrels of tar sands crude oil from Alberta, Canada to the Gulf Coast in the US, has been one of the most polarizing issues in American politics over the past few years. Environmentalists recognize that the pipeline will do little more than encourage continued tar sands extraction, one of the most carbon-intensive oil production methods on the planet. Supporters of heavy industry see the pipeline as a crucial piece of infrastructure that will create a more robust economy including jobs and increased energy security (although the Keystone would produce very few permanent jobs). President Obama has stated that the future of the pipeline project depends on whether or not it will contribute further to climate change. This week, the EPA weighed in on the State Department’s environmental impact statement, using authority granted by the Clean Air Act (CAA) and the National Environmental Policy Act (NEPA). The letter sent to the State Department from the EPA outlines their findings that the pipeline would indeed contribute to climate change. The production, transport, and refining processes, and the burning of the final product would result in an additional 1.3 -27.4 million metric tons of CO2 each year. On the high end, that’s equivalent to the GHG emissions from 5.7 million passenger vehicles or 7.8 coal-fired power plants. With oil prices currently lower than most economists expected, construction of the pipeline would make it cheaper […]

Read More →

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.

Read More →

Chase and Wells Fargo: giving you more reasons to break up

This week, megabanks gave their customers yet more reasons to break up with them and support community investing institutions instead. JP Morgan Chase CEO Jamie Dimon answered questions in front of the Senate Banking Committee yesterday, and admitted that his bank made mistakes regarding billions of dollars of losses from trades.  Dimon has even admitted that some of the activity involved may have been illegal.  The Senate Banking Committee unfortunately went pretty light on Mr. Dimon.  That’s a shame, because as Richard Eskow points out in the Huffington Post, Dimon’s action raises a number of troubling issues, including: 1) why is Mr. Dimon on the Board of Governors of the Federal Reserve Bank of New York, when his firm is benefitting greatly from this entity?  Isn’t that a major conflict of interest?; 2) Doesn’t Mr. Dimon owe his shareholders an apology for going along with risky practices when he has a duty under Sarbanes Oxley to ensure that the bank’s risk mitigation strategies are sound?; and  3) since Chase has been implicated in foreclosure fraud, shouldn’t they be making a commitment to helping America’s many homeowners who are underwater? In addition, JP Morgan Chase’s recent losses raise the significant question of why is Chase (as well as other megabanks) gambling with FDIC-insured dollars?  As William Greider points out in The Nation, banking reform should have ended the practice of banks gambling with FDIC-insured funds.  But, banks and their regulators have […]

Read More →

House Republicans Follow Senate’s Direction on Keystone XL Pipeline

On December 2, 2011, two days after the introduction of a Senate bill to fast-track decision-making on the Keystone XL pipeline, House Republicans released their plans to expedite the pipeline permitting process — and also to take the decision away from the State Department and to grant it to the Federal Energy Regulatory Commission. The House bill is sponsored by Rep. Terry Lee (R-NE). Pressure from Big Oil and the Chamber of Commerce should not be allowed to override thorough consideration of the dangerous consequences of the KXL pipeline. Green America opposes construction of the pipeline due to the perils it presents for human health, the environment and climate change, as well as the tremendous setback the pipeline would mean for development of our domestic, renewable energy sector. Rep. Lee has stated that Republicans aim to attach the bill to legislation that Democrats seek on extending unemployment insurance and payroll tax cuts. Some in Congress are trying to use our country’s dire need for job creation as an excuse to build this pipeline. Data on job creation commissioned by the oil industry, while still in circulation, has been grossly inflated. We will generate more good quality, lasting jobs through investment in clean energy. A report from the Political Economy Research Institute (PERI) finds that clean energy jobs will provide more career opportunities than the fossil fuel sector does “across all levels of skill and education” and “a high proportion of […]

Read More →

Victory! State Department Delays Keystone XL Decision

The Obama administration announced today that it has put its decision on whether to build the Keystone XL Pipeline on hold indefinitely (and at least until after the 2012 election).  This is a big victory for all the people across the country who took action to oppose the Keystone XL Pipeline, including Green America’s individual and business members.  The State Department has said that it is looking at re-routing the pipeline to address environmental concerns, including fears that a break in the pipeline could contaminate the Ogalalla aquifer.  The aquifer provides drinking water to millions of people. Green America and its allies will be increasing our call to cancel the pipeline once and for all.  The oil and gas industries will be spending millions of dollars to try to keep the Keystone XL Pipeline alive.  We need to show them that the voices of millions of concerned Americans and business owners, and the health of our planet, matter more.

Read More →

Bill Would Require Large Companies to Disclose Supply Chain Efforts

A new bill, introduced in the House of Representatives by a New York congresswoman, would require companies with more than $100 million in earnings to publicly disclose their efforts to keep child labor, forced labor, and human trafficking out of their supply chains.  “It’s virtually impossible to get dressed, drive to work, talk on the phone, or eat a meal without touching products tainted by forced labor,” said Rep. Carolyn Maloney (D) of Queens, when she introduced the bill. According to the Christian Science Monitor: The bill would require any company earning more than $100 million worldwide to document its efforts in two places: its annual Securities and Exchange Commissions (SEC) filing, and the company’s website. These disclosures would detail the companies’ policies to prevent illegal labor and their methods for certifying that suppliers abide by them. … “The Congresswoman was very intelligent about the way she’s put this together,” says E. Benjamin Skinner [author of the book, “A Crime So Monstrous: Face-to-Face with Modern-Day Slavery]. “[The disclosure] has to be in an SEC filing. If you lie as a CEO in an SEC filing, you go to jail.”

Read More →