House Republicans Push Back On The Fed’s Efforts to “Green” US Financial Institutions

House Republicans Push Back On The Fed’s Efforts to “Green” US Financial Institutions

Politico reports that 47 Republican Members of Congress wrote the Chair of the Federal Reserve Board, Jerome Powell, to urge that the Fed refrain from requiring banks to conduct “stress” tests to determine their vulnerability to climate change. 

Why This Matters:  Really?  Does failing to test the ability of banks to withstand a major financial risk make the risk go away?  This is climate denial that will really cost our economy.

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Study Shows Majority of Fossil Fuel Power Plants Could be Obsolete by 2035

Study Shows Majority of Fossil Fuel Power Plants Could be Obsolete by 2035

A vast majority of fossil fuel power plants will reach the end of their lives by 2035, a new report shows. Experts say that this revelation shows that President-elect Joe Biden’s climate goals aren’t as lofty as they may have once seemed, according to Inside Climate News.

Why This Matters: President-Elect Biden has planned to transition the United States to net zero emissions by 2050 and carbon-free electricity by 2035.

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DITCHED: Is 2020 the Tipping Point for Fossil Fuel Divestment?

DITCHED: Is 2020 the Tipping Point for Fossil Fuel Divestment?

Despite economic disruptions caused by the coronavirus pandemic, a growing number of countries, companies and financial institutions are committing to quit coal and are beginning to ditch oil and gas projects, too. 

In this episode of Political Climate’s special DITCHED series, host Julia Pyper speaks to Tim Buckley at the Institute for Energy Economics and Financial Analysis (IEEFA) about what’s driving the increase in fossil fuel exits around the globe, including in historically coal-dependent economies such as China and India.

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First African American Catholic Cardinal Supports the Fight Against Climate Change

First African American Catholic Cardinal Supports the Fight Against Climate Change

Wilton Gregory, appointed the first African American Catholic cardinal, is an ally in the fight against global warming. He not only believes in climate change, but he also has supported the Pope’s landmark environmental treatise— “Laudato Si:’ On Care for our Common Home” —when many archbishops in the United States did not, and put together a plan to address the Pope’s concerns about climate change that has been an inspiration for other faith leaders in Boston, Columbus, Minneapolis, San Diego, and other cities.

Why this Matters:  Spiritual leaders across faiths have been taking a stand against climate change. On November 16th, 47 faith institutions— 42 representing Catholics— announced their divestment from fossil fuels.

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Tribes Increasingly Looking to Renewables for Energy Independence click button

Tribes Increasingly Looking to Renewables for Energy Independence

Increasingly many tribal communities are working to develop renewables on tribal lands because it will save them money, provide good-paying jobs, and also fight the climate crisis. 

Why This Matters:  Native American tribes are infrastructure poor and have struggled with affordable electricity on reservations that are often isolated — far from the grid.

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Trump’s Losing Record On Coal

Trump’s Losing Record On Coal

Trump promised to end the so-called “war on coal,” but now, three years and millions of dollars later, it is clearly a failure, Eric Lipton reports for The New York Times. The Trump administration sank an exorbitant amount of effort and funds to save coal mines and power plants, even intervening directly with some, but coal’s decline has continued to accelerate.

Why This Matters: As the 2020 election nears, Trump faces speculation that all the money and effort he put into coal, wasn’t invested in good faith.

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