Growth in Renewables has Stalled. Investment is Falling. But Why? We don’t need “more ambition” but a radically different system.  By now, the message should be clear: The insistence on private-sector-led investment in renewables is a failure

We don’t need “more ambition” but a radically different system.  By now, the message should be clear: The insistence on private-sector-led investment in renewables, which we are told needs to be “unlocked” through various incentives – subsidies, feed-in-tariffs, guaranteed returns through PPAs, etc. – has proven to be a disastrous failure. This is the reason why renewables are “underperforming.” This …

Pope Francis laments continued fossil fuel investment. ‘Startling’ inaction on climate change must end, he says

The Pope lamented continued development of and investment in fossil fuels.  “We continue along old paths because we are trapped by our faulty accounting and by the corruption of vested interests,” he said. “We still reckon as profit that which threatens our very survival.”  “It is my prayerful hope that…you will agree upon a common plan that accords with climate science, the …

Power Plant Securitization and Loan Refinancing: The law obligates customers to pay the cost of grid infrastructure built by monopoly utilities only if it can be shown to be a wise investment

The key question is, in utility regulator speak, “prudency.”  Should customers have to pay for ill-advised or imprudent investments? The law obligates customers to pay the cost of grid infrastructure built by monopoly utilities only if it can be shown to be a wise investment. Energy Outreach Colorado, which helps low-income households with their energy bills, is against the approach. …

On bill financing expands in Hawaii – Green Energy Money Saver (GEMS)

On April 8, Hawaii Governor David Ige formally announced the Green Energy Money $aver (GEM$) on-bill financing program, a statewide initiative to make clean energy more affordable for homes and small businesses. The culmination of more than seven years of work by Hawaiian authorities, the program provides easy-access financing for cost-effective rooftop solar panels and other renewable distributed energy systems, …

Finance Ministers Coalition Helsinki Principles

Since the Paris agreement on climate change in 2015, 33 global banks have poured $1.9tn into financing fossil fuel projects worldwide. Furthermore, the World Economic Forum says that in 2018 coal use inched up and progress on energy efficiency slowed, while the World Economic Forum has concluded that growth in renewables is too slow to meet Paris goals. The result is that energy-related greenhouse …

A Quarter of European Fund Managers Think Oil Companies Are a Bad Investment Now. Only 18% say they will be good investments in 5 years if still have a fossil fuel focus

By Sharon Kelly, Desmogblog.com May 9, 2019 | EDUCATE! OIL COMPANIES WILL BE BAD INVESTMENTS WITHIN FIVE YEARS, PREDICTS SURVEY OF EUROPEAN FUND MANAGERS European fund managers are casting an increasingly skeptical eye towards the oil industry, concluding that the industry’s financial future looks grim, according to a new survey published by a London-based organization today. Just 18 percent of the responding fund managers, including representatives of firms …

Chase Bank: “#1 Funder of Climate Disaster” and “Toxic Assets”

Excerpt from Carolyn Fortuna on Clean Technica, 7 May 2019 – Fossil Fuel Complicity No Longer Hidden Behind ‘Fiduciary Duty’ The 2019 Fossil Fuel Finance Report Card points out that JPMorgan Chase was, indeed, the leader in fossil fuel complicity projects between 2016 and 2018 with $196 billion expended. Wells Fargo was a distant second with $156 billion. And JPMorgan Chase supports more …

But how do we pay for it (or we can’t pay for it)…

Excerpt, Business Green and The New Economics Foundation, April 2019 It would be remiss not to point out that the guy in charge of President Kennedy’s budget didn’t think the country could afford to put a man on the moon, and the UK Treasury didn’t want to build the Victoria Line (or set up a Green Investment Bank, as just one more …

The next egg: Investing our retirement savings in our local communities

If you’d like to learn more about that and about the nuts & bolts of SD IRAs and solo 401(k)s, join us for a webinar on April 11, 2019 at 11:30 am (Pacific), presented by author Michael Shuman and co-sponsored by LIFT Economy, Sustainable Economies Law Center, and Shareable. On that webinar, you’ll also learn about how Michael, LIFT, and the Law Center are planning to bring …