Financing Freedom from Fossil Fuels: Retiring the entire US coal fleet today would cost $35–40 billion –less than one year’s worth of fuel cost to run America’s coal and gas plants. The critical importance of public banks is a common theme.

Utilities can refinance or seek partial debt relief, passing on as much as $6 billion in cost savings every year to customers when they retire coal plants. Using some of those savings for transition assistance and repurposing land and infrastructure can provide new jobs and economic opportunities for coal communities. Better yet, recycling saved capital into clean energy that is …

Renewable electricity from solar and wind costs less than electricity from gas and coal, and can be implemented everywhere at huge scale, giving rise to a trillion-dollar energy windfall

A sampling of stories from just the past week: Renewable electricity from solar and wind costs less than electricity from gas and coal, and can be implemented everywhere at huge scale, giving rise to a trillion-dollar energy windfall, according to Inevitable Policy Response, a project of the U.N. Principles for Responsible Investing that aims “to prepare investors for the associated portfolio risks.” Transforming …

A US green investment bank for all: Democratized finance for a just transition

The Next System Project proposes the creation of a democratized US Green Investment Bank (GIB) https://thenextsystem.org/green-investment-bank Thomas Marois and Ali Rıza Güngen, more September 20, 2019 MONEY & BANKINGENVIRONMENT & ENERGY In ways unimaginable just a few years ago, public banking and its potential for catalyzing a transition to a green and just future have been catapulted to the center of political and …

Denver’s 2020 budget will fund just five miles of new sidewalks out of more than 2,000 miles that are missing or sub-standard

Streetsblog Denver, Sept 2019 The Denver Streets Partnership told members of the council that mobility funding within Hancock’s $1.49 billion proposed budget is so paltry that it would take 400 years to build out a complete sidewalk network.  “Mayor Hancock’s proposed 2020 budget will fund just five miles of new sidewalks out of more than 2,000 miles that are missing …

The key to a sustainable economy is 5000 years old

By Ellen Brown, Truthdig.com August 30, 2019  We are again reaching the point in the business cycle known as “peak debt,” when debts have compounded to the point that their cumulative total cannot be paid. Student debt, credit card debt, auto loans, business debt and sovereign debt are all higher than they have ever been. As economist Michael Hudson writes in his …

Moody’s sees substantive weakness ahead for North American coal

https://seekingalpha.com/news/3493842-moody-s-sees-substantive-weakness-ahead-north-american-coal Carl SurranAug. 21, 2019 6:57 PM ET Moody’s cuts its 12-18 month outlook for the North American coal industry (NYSEARCA:KOL) to Negative from Stable, citing declining profitability, weakening export prices and declining demand from utilities over the next decade. “The combination of a now-weakened export market and significant retirement of coal-fired power plants in 2018 is creating an oversupplied …

Dare to imagine: A new economy is possible! Public Finance for the Future We Want

Costa Rica’s Banco Popular Costa Rica’s BPDC is perhaps the most democratic bank in the world, with its highest governing body the Assembly of Workers, which represents nearly 1.2 million savers, or 20% of the population. Effective control over daily operations is exercised by the National Board of Directors, which is composed of four representatives of the Assembly and three …

U.S. Seen as Climate Risk With Two-Thirds of New Oil and Gas

By Alex Nussbaum, Bloomberg, August 20, 2019  ‘Staggering’ forecast makes U.S. climate risk: Global Witness  Surge would be 40 times new Russian output, 20 times Saudi The U.S. will account for for almost two-thirds of the world’s new oil and natural gas output in the decade ahead, making it a critical obstacle to stopping climate pollution, a London-based advocacy group says. …