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Climate risks for dozens of US utilities; Germany's coal exit plan


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Climate risks for dozens of US utilities; Germany's coal exit plan

Moody's raises red flags on climate risks for dozens of US utilities

Dozens of regulated electric utilities in the U.S. are at a high risk of climate change-related physical or financial impacts over the next decade or two due to rising average temperatures and more intense and frequent storms, rainfall and floods, Moody's Investors Service said in a new report.

Climate plans of US presidential hopeful Bloomberg, others, include resilience

Democratic U.S. presidential hopeful Michael Bloomberg has pledged to help reduce the size and impact of major wildfires, including through the use of microgrids, and leverage federal data and funds to help cities, states and the private sector adapt to the impacts of climate change.

Market reassured by Germany's coal exit plan, but questions remain

Germany's planned pathway out of lignite coal power generation by 2038 and the associated compensation packages for affected operators, revealed Jan. 16, should instill confidence in the market, analysts said as the dust settled on the news.

US agencies find 2019 was 2nd hottest year on record globally

The year 2019 was the second-hottest year on record as average global surface temperatures followed a long-term upward trend, NASA and the U.S. National Oceanic and Atmospheric Administration reported Jan. 15.

Bill would mandate 100% of Va. electricity is renewable by 2050

In an effort to double-down on Virginia's clean energy commitment, legislation introduced in the Virginia General Assembly seeks to mandate that 100% of the state's electricity be produced by renewable resources by 2050.

New state coal ash bill could complicate Georgia Power's plans

Democratic Georgia lawmakers are proposing more stringent requirements for cleaning up coal ash that could exert greater pressure on Georgia Power Co. and the state to aggressively tackle ash disposal.

Pioneered in US, 'virtual' renewable power deals start to make inroads in Europe

Two new solar farms in Spain will soon be used to brew more than 55 million kegs of beer every year at 14 breweries across 12 Western European countries, but the electricity itself is not part of the equation. Instead, the project developer and brewing company have signed what is described as one of the first "virtual" renewable power contracts in Europe.

Pipeline sector stays behind the curve as BlackRock addresses climate risk

While some industry experts believe that BlackRock Inc.'s directive to fossil fuel companies on environmental disclosures and sustainability should help motivate energy pipeline companies to improve reporting, others are not sure that it will move the needle at all.

Researchers find benefits of China's carbon market could exceed policy costs

The national carbon-dioxide emissions trading system that China is set to launch over the next year or two could prove more expensive than a cap-and-trade-type program but could also yield environmental benefits that exceed policy costs, nonprofit research group Resources for the Future found.

IEA warns oil majors risk profitability with slow response to climate change

Oil and gas companies are risking their long-term profitability by failing to act on climate change, which is already fueling a growing backlash against the industry, the International Energy Agency has warned.

House Natural Resources Committee passes abandoned mine reauthorization bill

The U.S. House Committee on Natural Resources passed a bill to reauthorize the Abandoned Mine Land trust fund, allowing states to continue collecting a fee from coal mine operators to put toward reclaiming abandoned mine sites.

Mizuho joins push for mandated environmental risk disclosure

A top Japanese bank is the latest to lobby the U.S. Securities and Exchange Commission to tighten standards for how public companies disclose environmental, social and governance, or ESG-related data to investors.

Tri-State to add 1 GW of renewables by 2024, will not pursue Holcomb expansion

A bundle of new renewable energy projects will help to "dramatically and rapidly advance" Tri-State Generation and Transmission Association Inc.'s transition toward a clean power-heavy energy mix, according to the utility cooperative.

Rhode Island aims for 100% renewable energy by 2030

Rhode Island Gov. Gina M. Raimondo in her Jan. 14 annual address said she will sign an executive order by Jan. 17 aimed at making her state the first in the U.S. to transition to 100% renewable energy by 2030.

Infrastructure buildout may drive oil and gas sector's greenhouse gas growth

The buildout of oil and gas infrastructure along the U.S. Gulf Coast may add 541 million tons of CO2-equivalent greenhouse gas emissions annually by 2030, a Jan. 14 study from the University of Texas at Austin concluded, with more than two-thirds of that growth coming downstream of oil and gas producers.

BlackRock's Fink warns climate risk causing 'fundamental reshaping of finance'

The world's largest asset manager issued a stark warning that climate change will cause a near-term reckoning for the modern economy.