Bloomberg

American Businesses, Cities and States Can Make Up For Trump’s Climate Inaction

Federal climate change policy is a mess. President Trump announced early in June that the U.S. would pull out of the Paris climate accord. Scott Pruitt, the head of the Environmental Protection Agency is skeptical of climate change. He told executives from the coal industry that he would create a team of researchers to look into the science behind climate change.

California Shows Why Trump is Wrong

(3BL Media/Justmeans) — President Donald Trump is at war with clean energy, immigration, taxes, and regulations, because, he says, these things represent a threat to our economy. He yearns for the days when oil companies, not tech firms, were the largest in the world, and when white people comprised an uncontested majority of the US population.

But his claim that re-establishing that order in a world that has totally changed will somehow make America great again, is misinformed. As Matthew Winkler brilliantly showed in Bloomberg View, he need only look at California to see the error of his ways. While actively embracing the things that Trump wants to get rid of: regulations, renewables, and immigrants, California, whose economy, at $2.3 trillion  (according to the WEF) falls, just behind the UK, as the world’s sixth largest, “is the chief reason America is the only developed economy to achieve record GDP growth since the financial crisis of 2008.”

The state’s economic growth is expected to continue to outpace the rest of the nation, through 2020.

And yet, California is not on the US Chamber of Commerce’s top ten list of business-friendly states with low taxes and regulations (which was topped by TN, SD, and WY). The Chamber’s idea of what drives a state’s economy seems to be in sync with the president’s, yet at least in the case of California, both deviate from reality. But then the Chamber, as witnessed by this report from the Cato Institute posted on their website, characterizes regulation as the antithesis of freedom (as opposed to protection) and ranks the US 22nd in the list of countries that are most free (2011 data), largely because of it.

Republicans Are Buying Solar, Too

(3BL Media/Justmeans) — If you think you know everything there is to know about red people and blue people, how they vote, what they buy, what they drive, and how they power their homes, you might be surprised at the results of a recent study—at least when it comes to that last item. PowerScout, a California-based solar company, uses satellite technology to help potential customers to assess how much sunshine they can expect to fall on their houses, to help assist them in their buying decision.

They decided to use that capability to find out if Republicans and Democrats vary widely in their use of rooftop solar panels. What they learned might surprise you.

First, a note about their methodology. They used publicly available records of donors to each of the political parties. From this, they compiled a list of 1.5 million homes across the top 20 solar states in the US. They then utilized the satellite imagery for all those addresses and fed it into something called a convolution neural network, a type of artificial intelligence system that mimics the human nervous system. The network had been trained in advance of this study to recognize the presence of solar panels in a photo of a rooftop. (Going through all those photos by hand, would have been rather time consuming.)

What they found was that overall the two parties were pretty close. A total 3.06% of Democratic donors and 2.24% of Republican donors had solar on their roofs.

They also broke down their data, state by state. In California, where solar has become mainstream, 7.24% of Republicans and 7.43% of Democrats had solar—nearly a tie. In Hawaii, Republicans actually outsolared Democrats, 9.58% to 8.50%. These are both states where solar is well-established. In other states, where solar is newly arrived, the numbers favor Democrats.

JPMorgan Chase And Bloomberg Grants Help Secure America’s Economic Future

(3BL Media/Justmeans) – It’s now a moral and economic crisis when many young Americans graduate from high school without being on a pathway to a well-paying job. In Greater New Orleans, nearly one in five young people are neither working or in school.

$12.1 Trillion of Investment In Renewable Power Generation Needed To Avert Climate Change

(3BL Media/Justmeans) – Delivering on the promises of the historic Paris climate change agreement to avert the dangers of climate change will happen only if there’s more investment in new renewable power generation - that’s $12.1 trillion of investment! – over the next 25 years.

Wall Street And World’s Largest Asset Managers are Awake to Climate Change

(3BL Media/Justmeans) – Decarbonising the global economy is an ambitious plan. Now, corporate leaders understand the size of the challenge and the importance of meeting it. We are on the threshold of an economic revolution that will transform how we think about productive activity and growth.

‘Brilliant Ideas’: New TV Art Program By Bloomberg TV And Hyundai

(3BL Media/Justmeans) – The world of arts television is about to get much more interesting, as Bloomberg has started a three-year partnership with Hyundai Motor Company to create a new global television series, ‘Brilliant Ideas,’ on the world’s most exciting art personalities.

12 Major Companies Sign Pact to Purchase More Renewable Power

(3BL Media/Justmeans) - Most businesses will tell you that their reason-to-be is to meet their customers’ needs. So when a group of major corporations that use a great deal of energy get together to sign a pact asking their utilities to provide more renewable energy, one would expect utilities to take notice.

That is the rationale behind the Renewable Energy Buyers’ Principles, which focuses on buyers’ unmet demand for more renewable energy. The principles were jointly created by the World Wildlife Fund (WWF) and the World Resource Institute (WRI) to help companies navigate the” increasing complexity and transaction costs” associated with large scale purchases of renewable power.

The twelve companies that signed the agreement are Bloomberg, Facebook, General Motors, Hewlett-Packard, Intel, Johnson & Johnson, Mars, Novelis, Procter and Gamble, REI, Sprint, and Walmart. All of these companies are driving towards carbon neutral operation.

It might be the cart leading the horse, but as Suzanne Apple of WWF says, “These companies are leading the market in creating demand for renewable energy. The Buyers’ Principles provide sound guidance to the market providers. Some of America’s largest companies are embracing renewable energy, and their collective demand requires the market to keep pace.”

The agreement includes a combined renewable energy target of 8.4 million megawatt hours (MWh) per year through 2020. The Buyers’ Principles contain six criteria that should significantly help companies meet these ambitious purchasing goals. These are:

  • Greater choice in procurement options,
  • More access to cost competitive options,
  • Longer- and variable-term contracts,
  • Access to new projects that reduce emissions beyond business as usual,
  • Streamlined third-party financing,
  • Increased purchasing options with utilities.

Global Brands Tap Wind Power To Boost Sustainability

WindMade provides companies with sustainable energy certification.

Subscribe to Bloomberg