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NetZero Insider’s coverage of clean energy and climate policy developments last week included news from D.C., Arizona, Maryland, New Jersey and Washington state.  


John Stang reported on the Washington Senate’s approval of a bill to connect its carbon cap-and-invest program with California and Quebec’s. The legislature acted despite a November ballot referendum seeking to disband the state’s carbon market, which opponents blame for high gasoline prices. Supporters of the program say linking it will reduce gas prices. 


K Kaufmann reports that more than 70 energy-related bills have been proposed in the first month of the Maryland legislature’s 2024 session, with majority Democrats calling for an economy-wide cap-and-invest program and emissions reduction efforts at “high-energy-use facilities.”  


Elaine Goodman reported on Arizona Democratic legislators’ attempts to reintroduce previously rejected clean energy rules that would require utilities to achieve 50% emissions-free electricity by 2032 and 100% by 2050. The move came after the Arizona Corporation Commission voted to repeal energy efficiency standards that critics say have cost ratepayers almost $3.4 billion since their introduction in 2006.  


James Downing continued to report on LNG development as environmental advocacy groups attacked FERC’s approval of the Commonwealth LNG facility in Cameron, La. At a D.C. Circuit Court of Appeals hearing Feb. 12, the Sierra Cub argued that FERC disregarded the facility’s slated GHG and nitrogen dioxide emissions in approving the project. FERC argued that the commission has “not yet been able to identify” a methodology to pin climate change impacts to specific projects, and so may not make a finding that the terminal is inconsistent with public interest. 


Additionally, Downing reported on a split in the House on the impacts of an expanded transmission grid on the transition to a low-carbon future. Some, like South Carolina’s Rep. Jeff Duncan (R) said that environmental regulations and bans on fossil fuel generation are threatening grid reliability. Rep Scott Peter (D-Calif.) and the Colorado Energy Office’s Keith Hay rebutted that not only do grid-expansion policies save consumers money, but also are feasible while also reducing GHG pollution.  


Finally, Hugh Morley reported on NJ BPU’s elimination of nuclear subsidies for this year as PSEG and Constellation Energy Generation pursue nuclear production tax credits from the Inflation Reduction Act.  


Both companies, which run the state’s three nuclear power plants, did submit notices of intent last year to file for the state-level Zero Emissions Credits, but withdrew. The funds can now go to other clean energy generation, Environment New Jersey Director Doug O’Malley said.  


In addition to these stories, our curation for this week covers:  

  • Finance & Investing: While Wyoming has few ways to accept federal clean-energy funds, the state has begun funding its own carbon sequestration technologies. 

  • Impact & Adaptation: Although Iceland gets 85% of its energy from renewable energy, climate change and lower fish harvests are driving further development in green technologies.  

  • Policy & Politics: Climate advocates called on New York Gov. Kathy Hochul (D) to include the NY Home Energy Affordable Transition (NY HEAT) Act in this year’s budget. The act would speed the transition away from fossil fuels in home heating.  

These stories and much more in this week’s Intelligence Report:  


Jump To

Finance & Investing
Impact & Adaptation
Industrial Decarbonization
Policy & Politics

 
 

Finance & Investing

International

Barclays to adopt fresh curbs on oil and gas financing

The move, part of its Transition Finance Framework (TFF), published on Friday, follows intense pressure from campaigners over its energy policy amid an increase in climate damaging emissions from the burning of fossil fuels. Reuters


New York

New York pension fund further restricts investments in Exxon, other oil companies

In a joint press release, several environmental groups including DivestNY and the Climate Safe Pensions Network said DiNapoli's action "misses the mark" by only partially divesting from Exxon and by continuing to own other oil majors. Reuters


New York

Hidden subsidies prop up New York's fossil fuel industry

Across New York, Industrial Development Authorities enter into payment-in-lieu-of-tax agreements, or pilots, with businesses, exempting the corporations from property taxes in exchange for a lower annual payment to the town, county, and school district and the promise of job creation. And these little-known local authorities are quietly shaping the economics of the energy transition, in some cases threatening to undermine the state's climate goals. New York Focus


New York

Will New York State Divest From Big Oil?

New York State officials are poised to decide whether to sell off more than $1 billion in investments in major oil companies, in what could be one of the most consequential steps by a large institution to divest from fossil fuels. With an announcement expected within weeks, some climate activists are calling on the manager of the state's largest pension fund to blacklist ExxonMobil, Chevron and other leading oil companies from its portfolio. Inside Climate News


U.S.

DOE sets deadline for applications for its wind and solar low-income tax credit program

The goals of the program are to increase access to clean energy in low-income communities, encourage new market participants, and benefit individuals and communities that have experienced adverse health or environmental effects or lacked economic opportunities. Daily Energy Insider


U.S.

EPA and DOE Announce $1 Billion in Funding for Methane Mitigation

EPA and DOE took critical action Feb. 8 in announcing the availability of $1 billion in funding from Congress' Methane Emissions Reduction Program (passed as part of the 2022 Inflation Reduction Act). The available funds will be awarded to states, tribes, technology developers, industry and nongovernmental organizations to slash methane pollution from oil and gas facilities. Environmental Defense Fund


U.S.

FirstEnergy increases 5-year spending plan 44%, to $26B, drops 2030 carbon goal

FirstEnergy plans to spend $26 billion on its regulated utility system over the next five years, up 44% from its last five-year investment plan, company officials said Feb. 9 during a quarterly earnings call with analysts. About 75% of the planned spending will be on investments that can be recovered through state and federal formula rates, which are recouped outside of rate cases, according to the company. Utility Dive


Wyoming

Wyoming, Slow To Take Federal Clean Energy Funds, Gambles State Money on Carbon Sequestration and Hydrogen Schemes to Keep Fossil Fuels Flowing

The Cowboy State has doled out tens of millions of state taxpayer dollars to fossil fuel-adjacent projects, even as it faces a shortage of options to take advantage of clean-energy funding. Inside Climate News


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Impact & Adaptation

International

A Collapse of the Amazon Could be Coming 'Faster Than We Thought'

Up to half of the Amazon rainforest could transform into grasslands or weakened ecosystems in the coming decades, a new study found, as climate change, deforestation and severe droughts like the one the region is currently experiencing damage huge areas beyond their ability to recover. Those stresses in the most vulnerable parts of the rainforest could eventually drive the entire forest ecosystem, home to a tenth of the planet's land species, into acute water stress and past a tipping point that would trigger a forest-wide collapse, researchers said. The New York Times


International

A New Study Revealed Big Underestimates of Greenland Ice Loss -- and the Power of New Technologies to Track the Changes

Although a new study of the mass of the Greenland Ice Sheet shows that previous research underestimated its ice loss by about 20%, which could lead to unexpected increases in sea level rise, it also held good news about the technological advancements used to make such measurements. The study, published last month in the journal Nature, effectively captures ice loss at the edges of glaciers where they meet the sea. The researchers manually recorded changes at the edges of the ice and also trained algorithms to track melting along the border where the glacier meets the sea. Inside Climate News


International

Global Warming Could Drive Locust Outbreaks into New Regions, Study Warns

Warming temperatures, as well as more droughts and extreme rains, may create favorable conditions for breeding and swarming in Iran, Afghanistan and Turkmenistan. Inside Climate News


International

Iceland Is Living in our Future

Clean power, melting glaciers and carbon capture. New York Times


International

Tipping Points for the Planet

Complex environmental systems are undergoing profound upheavals as a result of human activity. New York Times


International

What Does the 1.5 C Marker of Global Warming Mean?

Recent temperature rises have come uncomfortably close to a key benchmark: 1.5 degrees Celsius. It's a bad sign for the world's climate goals, but it's not game over. Not yet. New York Times


U.S.

As the Number of American Farms and Farmers Declines, Agriculture Secretary Urges Climate Action to Reverse the Trend

The new Census of Agriculture shows carbon-intensive farms and large, factory-scale animal operations are only getting bigger. Inside Climate News


U.S.

Greener snowmaking is helping ski resorts weather climate change

As a warming world creates an existential threat for the ski industry, resorts are reducing how much energy they need to make it snow. Grist


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Industrial Decarbonization

Steel

U.S.

Biden Faces More Pressure From Environmentalists to Block Steel Merger

President Biden is facing new pressure to block Nippon Steel's acquisition of iconic manufacturer U.S. Steel, this time from environmental groups that say the tie-up would set back America's efforts to curb climate change. In interviews, environmental activists working to reduce greenhouse gas emissions say the merger would bring together two steel giants that are laggards on transitioning away from fossil fuels. The New York Times


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Policy & Politics

Arizona

Arizona Corporation Commission moves to eliminate energy efficiency rules, renewables targets

The proposal is "a big step backwards" for Arizona, said Mark Kresowik, senior policy director for the American Council for an Energy-Efficient Economy. Utility Dive


U.S.

Does the SEC climate rule really matter? Investors will still demand disclosure

As the Securities and Exchange Commission finalizes its rule to standardize climate-related disclosure, how should companies and investors prepare? One key takeaway from a GreenBiz 24 tutorial packed with sustainability professionals this week: The work on collecting, analyzing and disclosing sustainability data is marching on, regardless of how a new regulatory regime takes shape. GreenBiz


Wyoming

Gordon: Biden policies frustrate Wyoming's budget plans and climate ambitions

Gov. Mark Gordon's push for carbon capture at coal-fired power plants and for pumping planet-warming carbon dioxide underground to produce more oil isn't a climate crusade, he told business leaders Feb. 14 in Casper. It's an acknowledgment of where policies outside Wyoming have driven markets. Wyoming, the nation's top coal producer and among its top oil and natural gas producers, can help meet the goal -- and the market reality -- of reducing carbon emissions into the atmosphere without abandoning fossil fuels, he said. WyoFile


Washington

Washington's key climate law is under attack. Big Oil wants it to survive.

Washington passed a cap-and-trade program in 2021, and the law was supported by BP, the same oil giant that had spent $13 million to kill one of the ballot initiatives three years earlier. Now the landmark law is threatened by a repeal effort bankrolled by a hedge-fund manager, and representatives for oil companies say they have nothing to do with it. In fact, oil giants want to fix it. Grist


U.S.

Why the Cost of Biden's Climate Law Keeps Going Up

Forecasters say the president's clean-energy incentives will be more effective than they had originally expected, in part because of new federal regulations. New York Times


U.S.

U.S. clean energy sector is breaking records but presidential election, other challenges loom: WRI

Policymakers, regulators, developers and manufacturers must double down on their efforts to address key challenges, said the World Resources Institute in a report. Utility Dive


U.S.

There's a big climate cost to failing to recognize Indigenous sovereignty

Energy companies that ignore Indigenous land rights are having to pay billions, and delaying the green transition. Corporate Knights


U.S.

Taylor Swift's Super Bowl flight shows what's wrong with carbon removal

Sara Nawaz, director of research at American University's Institute for Carbon Removal Law and Policy, co-wrote a report released today titled "Agenda for a Progressive Political Economy of Carbon Removal." In it, she and her co-authors lay out a vision for carbon removal that shifts away from market-centric approaches to ones that are government-, community- and worker-led. Grist


U.S.

OPINION: A Climate Scientist's Defamation Victory Rebuts Attacks

Last week, after a decadelong journey through the court system, a jury in Washington, D.C., found that two writers were liable for defamation against Michael Mann and Peter Fontaine. They hope this sends a broader message that defamatory attacks on scientists go beyond the bounds of protected speech and have consequences. However, they lament the time lost to this battle. This case is part of a larger culture war in which research is distorted and the truth about the climate threat is dissembled. The New York Times


U.S.

Manchin blasts White House for siding with climate activists in LNG export pause

Members of the U.S. Senate Energy Committee said the move appeared to be taken for political purposes. Daily Montanan


U.S.

How Biden's European-style net-zero push will roilagriculture and make families spend $1,300 more on groceries

Researchers at the Buckeye Institute, an Ohio-based free-market think tank, say diesel, propane, and fertilizer costs will rise thanks to the federal government's climate measures. Daily Mail


U.S.

How a Climate Group That Has Made Chaos Its Brand Got the White House's Ear

In less than a year, Climate Defiance has drawn the admiration of activists and the ire of government leaders and CEOs. It may be a sign of an appetite among activists for more peaceful but confrontational direct action. Inside Climate News


U.S.

How a Climate Group That Has Made Chaos Its Brand Got the White House's Ear

In less than a year, Climate Defiance has drawn the admiration of activists and the ire of government leaders and CEOs. Inside Climate News


U.S.

Grading Biden's Big Climate Law

In the past 24 hours, President Biden has taken questions (and heat) on his age, memory and mental fitness. But the one economic issue that is most likely to generate scrutiny from the business community and beyond over the next several months is the biggest bill he has passed, the Inflation Reduction Act, which he hailed at his news conference last night. The New York Times


U.S.

EPA and DOE Announce $1 Billion in Congressional Funds to Reduce Methane Emissions

On Feb. 9, EPA and the Department of Energy announced in a Notice of Intent that $1 billion in funding from Congress's Methane Emissions Reduction Program will soon become available. Passed as part of the 2022 Inflation Reduction Act, MERP aims to significantly reduce methane and associated air pollution from the oil and gas sector by providing money for projects to monitor and reduce methane emissions and by imposing a fee on excessive methane emissions. Environmental Defense Fund


U.S.

Donations Point to Trump as U.S. Fossil Companies' Choice for President

Oil and gas companies poured $7.37 million into Trump's election campaign in 2023, Bloomberg reports, nearly 10 times as much as they contributed to his Republican primary challenger, Nikki Haley. President Joe Biden received just $635,000. The Energy Mix


Texas

Energy Industry Litigator Takes on Public Utility Commission Over New Rule

A Houston electric power trader filed a direct appeal lawsuit against the PUC at the Austin Court of Appeals. The Texas Utility Code allows certain plaintiffs to bypass district courts to challenge a PUC rule. Aspire Venture alleges the PUC illegally implement a rule without allow public review and comment. Texas Lawyer


Arizona

Arizona Corporation Commission moves to eliminate energy efficiency rules, renewables targets

The Arizona Corporation Commission on Feb. 6 initiated a proceeding to eliminate energy efficiency and renewable energy rules that conservative regulators say have cost the state's electricity consumers billions of dollars but no longer provide much in system benefits. Utility Dive


New York

Will New York State Divest From Big Oil?

The manager of the state's largest pension fund is expected to decide soon whether to sell shares in Exxon, Chevron and other major oil companies. Inside Climate News


New York

New York State Proposes 'Rapid Act' and Other Bill to Aid in Transition Away From Natural Gas

The Governor is seeking to advance the achievement of the ambitious emissions reduction and renewable energy procurement mandates set forth in the landmark Climate Leadership and Community Protection Act (CLCPA). National Law Review


New York

New York could rewrite its relationship to fossil gas with this bill

The state needs to downsize its gas infrastructure and electrify its buildings to meet its climate goals. Legislation that would help it do that is gaining momentum. Canary Media


New Jersey

Watch out: New Jersey bill to require all e-bike riders to register, get insurance

It's been a rough week for anyone who enjoys the freedom of riding e-bikes without undue state-applied hassle and burden. The latest news sure to disappoint electric bike riders and proponents of reduced car usage comes from the Garden State, where a pending New Jersey bill seeks to require e-bike riders to register their bikes and carry liability insurance. Electrek


Missouri

Missouri Public Service Commission under new leadership

Missouri Gov. Mike Parson named his former policy director chair of the state Public Service Commission. Kayla Hahn, of Jefferson City, began leading the public utility regulator recently, according to a news release from the governor's office. Jefferson City News Tribune


Michigan

PFAS, clean energy and EVs get funding in Whitmer budget plan, but enviros want transit prioritized

Gov. Gretchen Whitmer released her sixth executive budget recommendation Feb. 7, drawing praise from environmental advocates for supporting clean energy and water infrastructure, mixed responses on housing investments and calls for more funding for transit. Michigan Advance


Maryland

OPINION: Time for Maryland utility customers to stop subsidizing fossil fuels

Regulation of public utility monopolies is not self-executing: The state -- the PSC and the General Assembly -- must exercise its "extensive control" over utility monopolies. Otherwise, the utilities' private interests overtake the public interest. Continued State inaction on gas infrastructure spending means continued windfalls for gas utility investors -- windfalls from subsidies paid by captive utility customers. Utility customers deserve better, writes David Lapp, the Maryland People's counsel. Maryland Matters


Maryland

OPINION: Time for Maryland utility customers to stop subsidizing fossil fuels

In competitive markets, companies don't spend billions of dollars on long-lived assets without believing they have a product customers will want for a long time, writes David Lapp, the Maryland People's Counsel. Maryland Matters


Maryland

OPINION: Customers should not be forced to subsidize their utilities' political influence spending

Utilities have plenty of money to pay for their political activities without charging customers. Four of the largest parent companies for subsidiaries operating in Maryland (Exelon, FirstEnergy, AltaGas, NiSource) reported a combined $3.5 billion in profit last year. The Utility Transparency and Accountability Act will guarantee that lobbying money comes from their profits, not their customers' wallets, writes Matt Kasper, deputy director of the Energy and Policy Institute, a utility watchdog organization. Maryland Matters


Louisiana

When a climate denier becomes Louisiana's governor: Jeff Landry's first month in office

In his first four weeks in office, Louisiana Republican Gov. Jeff Landry has filled the ranks of state environmental posts with fossil fuel industry executives. Landry has taken aim at the state's climate task force for possible elimination as part of a sweeping reorganization of Louisiana's environmental bureaucracy. The goal, according to Landry's executive order, is to "create a better prospective business climate." Floodlight


Louisiana

When a climate denier becomes Louisiana's governor: Jeff Landry's first month in office

Landry has surrounded himself with former fossil fuel executives -- and he has targeted the state's climate change task force. Grist


International

This Arctic Circle Town Expected a Green Energy Boom. Then Came Bidenomics.

The world has shifted away from decades of emphasizing private competition and has plunged into a new era of competitive industrial policy -- one in which nations are offering a mosaic of favorable regulations and public subsidies to try to attract green industries like electric vehicles and storage, solar and hydrogen. New York Times


International

Kerry: Trump can't stop green energy revolution, but China coal threat looms

Trump, the frontrunner to become the party's nominee, has pledged to reduce financial contributions to international organizations and to withdraw from the Paris climate agreement, a multilateral accord meant to limit greenhouse gas emissions. Reuters


California

California Offshore Wind Power Goals Threatened By Ocean Conservation Areas

A wind-energy dispute highlights the intense opposition large renewable power projects often face, even in states committed to the fight against climate change. Bloomberg


Wyoming

Wyoming, Slow To Take Federal Clean Energy Funds, Gambles State Money on Schemes to Keep Fossil FuelsFlowing

The Cowboy State has doled out tens of millions of state taxpayer dollars to fossil fuel-adjacent projects, even as it faces a shortage of options to take advantage of clean-energy funding. Inside Climate News


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