New York State has launched the second solicitation for large-scale renewable energy projects under the state’s Clean Energy Standard. The solicitation for up to 20 projects will accelerate New York’s transition to a clean energy economy and is expected to spur up to $1.5 billion in private investment and create more than 1,000 new well-paying jobs for New Yorkers. The solicitation is expected to support 1.5 million megawatt-hours of renewable electricity per year, enough to power 200,000 homes, and advance New York’s nation-leading commitment to secure 50 percent of the state’s electricity from renewable sources by 2030.
“This administration continues to champion renewable energy projects across New York, and this is a major step forward in our efforts to create clean jobs and set an example for the rest of the nation,” Governor Andrew Cuomo said. “With this action we will continue to capitalize on our natural assets, expand economic opportunities and lay the groundwork for a cleaner, greener New York for generations to come.”
The state is issuing this solicitation as the second in a series of major procurements that are expected to result in the development of dozens of large scale renewable energy projects by 2022 under the Clean Energy Standard. Community engagement and on-the-ground support is crucial for the successful development of renewable energy projects, and the RFP released today includes new standards and requirements for effective community outreach and planning. The RFP also ensures that good-paying jobs will be created by requiring the prevailing wage for applicable positions.
Notable new provisions in this solicitation include:
Requiring that workers associated with the construction of any awarded facility be paid the applicable prevailing wage, a standard set by the New York State Department of Labor, ensuring that the projects will result in quality, good-paying jobs for New Yorkers;
Preserving and protecting New York’s valuable agricultural resources by providing bonus points for renewable energy projects that avoid overlap with land of agricultural importance to New York State;
Ensuring that communities that would host successfully awarded projects are fully aware of the development process, proposers will be required to demonstrate that they have engaged with those communities and have also commenced the associated permitting processes; and
Continuing to encourage proposals that cost-effectively pair renewable energy with advanced energy storage technologies to help meet Governor Cuomo’s commitment to deploying 1,500 MW of energy storage by 2025.
To learn more about the large scale renewable solicitation, visit NYSERDA’s website.
The announcement maintains a predictable pace of annual solicitations for renewable energy developers and will support continued development and investment in clean energy projects across New York State.
The move builds on the Governor’s announcement with Vice President Al Gore in March when the state reaffirmed its commitment to cleaner, smarter energy solutions, including the announcement of large-scale renewable energy project awards and a formal request to the federal government for an exclusion from the new five-year National Outer Continental Shelf Oil and Gas Leasing Program.
This solicitation supports NYSERDA’s 2017 solicitation through which a $1.4 billion investment dedicated to renewable energy projects was announced earlier this year. That investment included 22 utility-scale solar farms, three wind farms and one hydroelectric project. One of the wind farms features an energy storage component, marking the first time a large-scale renewable energy project has done so in New York State.
The request also builds upon a New York Power Authority solicitation announced last June in concert with NYSERDA’s first solicitation, that will procure 1 million MWh. This investment in large-scale clean energy supply will further expand NYPA’s leadership role as the state’s largest supplier of renewable electricity. NYPA received more than 130 proposals from 51 clean energy developers in response to its RFP. NYPA plans to announce selected developers and customers once contracts are signed, which is expected to be this summer.
These projects will advance the Clean Climate Careers initiative announced by Governor Cuomo in June 2017. The initiative focuses on accelerating renewable energy and energy efficiency to make New York home to 40,000 new, good-paying clean energy jobs by 2020. According to the 2017 New York Clean Energy Industry Report, 146,000 New Yorkers were employed in the clean energy sector, including 22,000 in renewable energy power generation.
Richard Kauffman, Chairman of Energy and Finance said, “Investment in clean energy has been a proven catalyst in jump-starting the economy and providing jobs throughout the State. The significant interest the state is seeing from companies to invest in New York’s clean energy agenda is testament to our resolve to ensure generations to come can enjoy the natural resources which surround us.”
Alicia Barton, President and CEO, NYSERDA said, “Making progress in the battle against climate change requires a sustained commitment to supporting clean energy projects that will make our communities stronger and more resilient. Governor Cuomo has set the stage for New York to lead this effort through his bold commitment to 50 percent renewable energy by 2030, and we expect that this solicitation being announced today will help us maintain the early momentum we witnessed in the last round, and to pick up our pace in the march towards a cleaner future.”
Gil C. Quiniones, President and CEO, NYPA said, “Renewable energy is a priority for New York State. With these latest sizeable investments in clean and green energy projects and jobs, we are making great progress toward Governor Cuomo’s Clean Energy Standard. Through large-scale renewable projects, we are changing the energy landscape in New York, and ensuring that our energy mix is viable and affordable now and into the future.”
Senate Energy and Telecommunications Committee Chair Senator Joseph Griffo said, “The development of renewable resources is crucial to New York’s efforts to become more energy efficient. This announcement is a significant step forward and will support the state’s investments in a clean energy economy and job growth across the state.”
Assembly Energy Committee Chair Michael Cusick said, “While fighting climate change, the State is also investing in our economy by providing jobs for New Yorkers. With this plan, Governor Cuomo is ensuring opportunities for businesses to participate in the State’s agenda to have 50 percent renewable energy by 2030. Once again, New York is leading the nation in creating clean energy.”
Assembly Environmental Conservation Committee Chair Steve Englebright said, “I am thrilled to see New York taking more aggressive steps towards meeting our renewable energy goals, and in turn, our climate change mitigation goals. The state must rapidly move to produce clean power for homes and business and create well-paying, stable jobs for New Yorkers. Renewable projects, in concert with smart, economy-wide policies, will show that New York is a trendsetter in climate action.”
The Alliance for Clean Energy New York Executive Director Anne Reynolds said, “The renewable energy industry is committed to investing in New York to create jobs and help achieve Governor Cuomo’s ambitious clean energy goals. We applaud the Governor for his commitment to clean energy and for the release of the second solicitation for projects under the Clean Energy Standard. Our member companies look forward to competing for the opportunity to serve New Yorkers and provide pollution-free power.”
Climate Jobs NY Executive Director Ya-Ting Liu said, “New York has become a model for the rest of the country on how to tackle climate change while creating good, middle-class jobs with benefits. We applaud Governor Cuomo’s ongoing commitment to build a robust clean energy economy in New York that supports working families.”
The Nature Conservancy in New York Chief Conservation and External Affairs Officer Stuart F. Gruskin said, “The Nature Conservancy applauds Governor Cuomo for continuing progress on New York’s ambitious renewable energy goals and is thrilled to see a new approach in this solicitation to begin to consider land use. We look forward to continuing to work with the Administration to proactively address siting concerns to ensure clean energy for all New Yorkers while reducing impacts to our critical natural resources.”
Independent Power Producers of New York President & CEO Gavin Donohue said, “We applaud Governor Cuomo’s leadership in moving the Clean Energy Standard forward using competitive auctions. It is important to recognize the benefits of in-state energy resource development to local economies, and a diversity of resources is essential to electric system reliability.”
Reforming the Energy Vision is Governor Andrew M. Cuomo’s strategy to lead on climate change and grow New York’s economy. REV is building a cleaner, more resilient and affordable energy system for all New Yorkers by stimulating investment in clean technologies like solar, wind, and energy efficiency and requiring 50 percent of the state’s electricity needs from renewable energy by 2030. Already, REV has driven growth of more than 1,000 percent in the statewide solar market, improved energy affordability for 1.65 million low-income customers, and created thousands of jobs in manufacturing, engineering, and other clean tech sectors. REV is ensuring New York reduces statewide greenhouse gas emissions 40 percent by 2030 and achieves the internationally recognized target of reducing emissions 80 percent by 2050. To learn more about REV, including the Governor’s $5 billion investment in clean energy technology and innovation, visit rev.ny.gov, and follow us on Twitter, Facebook, and LinkedIn.
Even as President Obama works frantically in the closing days of his administration to facilitate a transition to clean, renewable energy in order to address the climate change crisis, the incoming occupier Donald Trump has called Climate Change a hoax perpetrated by China to weaken the US economy, and has promised to ease the way for domestic oil and gas production and coal mining.
The news that the largest domestic oil & gas field in US history has just been unearthed in Texas by the US Geological Survey – 20 billion gallons ($900B worth) – means that, with Trump controlling energy policy, the US is doomed to global-warming carbon economy for the foreseeable future, or until earth is rendered uninhabitable by climate change. What do you bet Trump will cancel any incentive to clean energy?
Meanwhile, Obama has been working frantically to raise the threshold of clean, renewable energy. Here is the latest (possibly final) initiative. One wonders whether Trump will reverse it, just because he can.
This fact sheet is from the White House (and should stand as a reminder of all that we are about to lose):
FACT SHEET: OBAMA ADMINISTRATION ANNOUNCESNEW ACTIONS TO BRING CLEAN ENERGY SAVINGSTO ALL AMERICANS
Through President Obama’s Clean Energy Savings for All Initiative and beyond, we are making progress opening up opportunities for all American’s to go solar and retrofit their homes and businesses to be more energy efficient. Since President Obama took office, the amount of electricity we generate from the sun has increased more than 30 fold, we added solar jobs 12 times faster than the rest of the economy, and we’ve cut the price of residential solar energy systems more than 50 percent. In fact, earlier this week the U.S. Department of Energy’s SunShot program announced a new target to cut the cost of solar in half by 2030. At the same time, energy consumption in 2015 was 1.5 percent lower than it was in 2008, while the economy grew by 10 percent over the same period. And we have improved the energy efficiency of more than one million low and moderate income homes.
Today, in coordination with a White House Clean Energy Savings for All Summit in Baltimore, Maryland hosted by Energy Secretary Ernest Moniz and Labor Secretary Tom Perez, the Obama Administration is taking the following new actions:
Launching a Challenge to Bring Solar Energy to Dozens of Low and Moderate Income Communities: The U.S. Department of Energy’s SunShot Initiative is launching a new Solar In Your Community challenge to expand solar access to Americans who have been left out of the growing solar market, including low- and moderate-income (LMI) households, state, local and tribal governments, and non-profit organizations. One hundred teams across the country will compete for cash prizes and technical assistance as they demonstrate innovative business and financial models that expand solar access to under-served groups. The teams with the most scalable, replicable solar business models will be eligible to win $1 million in final prizes, including a $500,000 grand prize. This challenge will reduce market barriers to solar deployment by spurring dozens of projects across the nation, with an emphasis on new and emerging solar markets. The challenge will help to achieve President Obama’s goal to bring 1 gigawatt (GW) of solar to low and moderate income families by 2020, test new business models that expand solar access, build local capacity to support community-scale solar projects, and establish resources that will aid in expanding solar access to underserved communities.
Growing the Reach And Impact of the Obama Administration’s National Community Solar Partnership: Last July, the Administration launched the National Community Solar Partnership—a collaborative effort between DOE, HUD, USDA, EPA, representatives from solar companies, NGOs, and state and community leaders —which works to unlock access to solar for the nearly 50 percent of households and businesses that are renters or do not have adequate roof space to install solar systems, in particular, for low- and moderate- income communities. Since we launched the partnership last year, more than 150 companies, organizations, and universities that represent 36 states have joined the effort to increase access to community solar, growing the number of members to 155, including the following 27 new partners joining today:
C2 Special Situations Group – New York
Center for Sustainable Communities – Georgia
Clean Energy States Alliance – Vermont
Connexus Energy – Minnesota
Elemental Energy, Inc. – Oregon
Energy Alabama – Alabama
Energy Outreach Colorado – Colorado
Energy Solidarity Cooperative – California
Environment Georgia – Georgia
Great Plains Institute – Minnesota
ICAST – Colorado
Imani Energy, Inc. – Delaware
Metropolitan Area Planning Council – Massachusetts
Minnesota Department of Commerce – Minnesota
MN Community Solar – Minnesota
Monadnock Sustainability Network – New Hampshire
Nebraskans for Solar – Nebraska
North Carolina Clean Energy Technology Center – North Carolina
Novel Energy Solutions – Minnesota
Placer Consulting Services LLC – Tennessee
Reneu Energy – New York
Rhode Island Office of Energy Resources – Rhode Island
Rural Communities Housing Development Corporation – California
Solar Site Design – Tennessee
Sunvestment Group, LLC – New York
Tralee Capital Partners – Colorado
West Virginia Solar Systems – West Virginia
Issuing Best Practices for Promoting the Development of Smart Residential PACE Financing Programs that ProtectConsumers: Today, DOE is releasing updated Best Practice Guidelines for Residential PACE Financing Programs. The guidelines provide best practices that can help state and local governments, PACE program administrators, and their partners to plan and implement programs that effectively deliver clean energy, water efficiency, and related upgrades to consumers. The updated best practices reflect input gained from over 200 comments on draft guidelines released for public review earlier this summer. The new guidelines include additional protections for consumers who voluntarily opt into PACE programs and lenders who hold mortgages on properties with PACE assessments. DOE also provides additional guidelines and program design recommendations to help ensure PACE financing is used appropriately and at the lowest cost for low-income households that otherwise meet program eligibility criteria. DOE will continue supporting state and local governments in incorporating the guidelines into PACE statutes and regulations as they are developed and modified. Additional information about PACE financing and technical assistance available at DOE can be found at their State and Local Solution Center. The best practices build on the PACE financing guidance issued by the Federal Housing Administration and Department of Veterans Affairs this summer.
Announcing a New Partnership to Help Improve Energy Efficiency in HUD-Assisted and Public Housing: This summer, the U.S. Department of Housing and Urban Development began partnering with EDF Climate Corps fellows to promote utility benchmarking of HUD-Assisted and Public Housing. The fellows will be embedded with organizations across the country to offer assistance in analyzing and documenting portfolio-wide energy usage and developing strategies to improve energy performance and reduce operating costs.
Creating a Clean Energy Compact between the Department of Energy and Historically Black Colleges and Universities to Forge a Workforce and Community Investment Program: As the energy industry continues to transform, the U.S. Department of Energy is working with Historically Black Colleges and Universities to establish the Historically Black Colleges and Universities Clean Energy Coalition (HBCU-CEC). The goal is to strategically engage the nation’s HBCUs in the adoption of energy efficiency, solar and other renewable energies on campus and within the communities where HBCUs are located, primarily populated by low and moderate income individuals and families. Collectively, the coalition, with technical assistance from the Department of Energy, led by the Energy Jobs Strategy Council and the Office of Economic Impact and Diversity, will forge a workforce and community investment program focusing on energy education and awareness, low and moderate income solar deployment, building energy efficiency, job creation, jobs skills training, utility costs savings, and reduction in environmental impacts. These efforts will help to position HBCUs as demonstrated leaders in deploying clean energy in low and moderate income communities while insuring the community benefits from resultant economic and social opportunities.
The fact that nearly 200 countries–representing nearly the entire population of Earthlings–have signed on to the Paris Climate Agreement, pledging to take climate action is, as President Obama said, “a turning point for the world.”
“Together, we’ve shown what’s possible when the world stands as one,” he said in a statement from the White House, December 12:
“Today, the American people can be proud — because this historic agreement is a tribute to American leadership. Over the past seven years, we’ve transformed the United States into the global leader in fighting climate change. In 2009, we helped salvage a chaotic Copenhagen Summit and established the principle that all countries had a role to play in combating climate change. We then led by example, with historic investments in growing industries like wind and solar, creating a new and steady stream of middle-class jobs. We’ve set the first-ever nationwide standards to limit the amount of carbon pollution power plants can dump into the air our children breathe. From Alaska to the Gulf Coast to the Great Plains, we’ve partnered with local leaders who are working to help their communities protect themselves from some of the most immediate impacts of a changing climate.”
And doing it all while breaking all records for the longest streak of private sector job creation. “We’ve driven our economic output to all-time highs while driving our carbon pollution down to its lowest level in nearly two decades,” Obama said.
Speaking to detractors are both sides – climate activists who said the agreement does not go far enough, and climate deniers who would reject any action at all, he said, “Now, no agreement is perfect, including this one. Negotiations that involve nearly 200 nations are always challenging. Even if all the initial targets set in Paris are met, we’ll only be part of the way there when it comes to reducing carbon from the atmosphere. So we cannot be complacent because of today’s agreement. The problem is not solved because of this accord. But make no mistake, the Paris agreement establishes the enduring framework the world needs to solve the climate crisis. It creates the mechanism, the architecture, for us to continually tackle this problem in an effective way.
“This agreement is ambitious, with every nation setting and committing to their own specific targets, even as we take into account differences among nations. We’ll have a strong system of transparency, including periodic reviews and independent assessments, to help hold every country accountable for meeting its commitments. As technology advances, this agreement allows progress to pave the way for even more ambitious targets over time. And we have secured a broader commitment to support the most vulnerable countries as they pursue cleaner economic growth.
“In short, this agreement will mean less of the carbon pollution that threatens our planet, and more of the jobs and economic growth driven by low-carbon investment. Full implementation of this agreement will help delay or avoid some of the worst consequences of climate change, and will pave the way for even more progress, in successive stages, over the coming years.
“Moreover, this agreement sends a powerful signal that the world is firmly committed to a low-carbon future. And that has the potential to unleash investment and innovation in clean energy at a scale we have never seen before. The targets we’ve set are bold. And by empowering businesses, scientists, engineers, workers, and the private sector — investors — to work together, this agreement represents the best chance we’ve had to save the one planet that we’ve got.
“So I believe this moment can be a turning point for the world. We’ve shown that the world has both the will and the ability to take on this challenge. It won’t be easy. Progress won’t always come quick. “We cannot be complacent. While our generation will see some of the benefits of building a clean energy economy — jobs created and money saved — we may not live to see the full realization of our achievement. But that’s okay. What matters is that today we can be more confident that this planet is going to be in better shape for the next generation. And that’s what I care about…..our work today prevented an alternate future that could have been grim; that our work, here and now, gave future generations cleaner air, and cleaner water, and a more sustainable planet. And what could be more important than that?
“Today, thanks to strong, principled, American leadership, that’s the world that we’ll leave to our children — a world that is safer and more secure, more prosperous, and more free. And that is our most important mission in our short time here on this Earth.
Significantly, the United States, whose Republican rightwingers are the smallest, tiniest minority of 7 billion souls, opted for language – “should” rather than “shall” – in order to bypass the need for Senate ratification of an actual treaty. We’ve seen how treaties, as benign as making America’s standards for disabled people, have been rejected, and the GOP Majority made it clear they would do everything possible – even shutting down the government – to make sure the United States does not do its part. It is notable that the United States represents a mere 5% of the world’s population, but is responsible for 25% of the emissions that are causing climate change. China, the second largest emitter, has four times the population but during the Paris talks, had to issue its first ever Red Alert because air quality was too dangerous due largely to emissions from coal-fired plants.
Without missing a beat, Republican Congressional leaders said they would block whatever action Obama promised, based on the idea that the President “made promises he can’t keep.”
But as Secretary of State John Kerry responded, 195 countries in the world have signed on to this historic agreement, bringing their own strategies and solutions to the table so they are more likely to follow through (much as the Obama Administration allowed states to develop their own Clean Power Plan solutions, and their own Affordable Care Act solutions). Essentially he is saying that the Republicans are on the wrong side of history, or just plain wrong.
This was the genius of Obama’s strategy, going back to forging a historic joint announcement with China last year that “showed it was possible to bridge the old divides between developed and developing nations that had stymied global progress for so long,” the President said. “That accomplishment encouraged dozens and dozens of other nations to set their own ambitious climate targets. And that was the foundation for success in Paris. Because no nation, not even one as powerful as ours, can solve this challenge alone. And no country, no matter how small, can sit on the sidelines. All of us had to solve it together.”
He also has managed to bring along many of the world’s most influential companies (not Koch Industries, of course), and billionaires (not the Koch Brothers, of course, who are spending their billions buying sycophant politicians), who are pledged to invest in climate action strategies including developing clean, renewable energy technologies that will shift our economy from its dependence on burning dirty fossil fuels (that’s what has the Koch brothers really worried).
But now, it is key that the vast majority of us who want climate action push for Congress (that means getting the GOP to stop blocking) to reauthorize the tax credits for renewable energy industries – solar and wind, in particular – to get a foothold. Solar industry is the fastest growing in the US. This is jobs creation. This is giving households more disposable income by bringing down the cost being extorted for fossil fuels (is anyone giving Obama credit for the fact that gas prices are likely to fall below $2 a gallon for the first time since 2007, as they blamed him when gas prices rose to nearly $5?). This is making communities more energy independent.
You would think that Republicans, whose singular economic policy consists of cutting taxes, especially corporate taxes and taxes that go to the wealthy, would be in favor of tax credits to spur a fledgling industry. But this is clean, renewable energy that threatens the profits and the power of the Old Fossils.
Current legislation could extend the renewable energy production tax credit for wind energy that expired a year ago. Environmentalists are also pushing for the extension of the solar investment tax credit which is set to be significantly reduced next year. And for those GOPers who suggest that the federal government “shouldn’t pick winners and losers” – they refuse to rescind the billions of dollars in subsidies that still flow to fossil fuels (or for that matter, the legislative advantages that are given, in terms of licensing and liability), despite the fact these are some of the most profitable companies in the history of humankind. Here’s a compromise: they should condition those subsidies to Exxon-Mobil, etc. on only what they spend to develop and implement clean, renewable fuels (and not natural gas, which is their big new product).
“Subsidies to fossil fuels do not expire. Neither should incentives for clean energy. Clean energy is one of America’s fastest growing industries, creating homegrown, well-paying jobs across the country—but failure to extend these tax credits could seriously set back that progress,” stated Heather Shelby Action Network Manager for Environmental Defense Fund Action.
EDF is urging people to contact Congress and urge they support for:
* An extension of the renewable energy production tax credit for wind and other renewable energy technologies, which expired at the end of 2014.
* An extension of the tax incentives for residential and commercial energy-efficient construction, which expired at the end of 2014.
* An extension of the solar investment tax credit for residential and commercial properties, which will be greatly reduced in 2017.
So what’s in the Paris Agreement? The White House produced a Fact Sheet, breaking it down
FACT SHEET: U.S. Leadership and the Historic Paris Agreement to Combat Climate Change
Today, more than 190 countries came together to adopt the most ambitious climate change agreement in history. The Paris Agreement establishes a long term, durable global framework to reduce global greenhouse gas emissions. For the first time, all countries commit to putting forward successive and ambitious, nationally determined climate targets and reporting on their progress towards them using a rigorous, standardized process of review.
The Agreement provides strong assurance to developing countries that they will be supported as they pursue clean and climate resilient growth. The deal builds on the unprecedented participation of 187 countries that submitted post-2020 climate action targets in advance of the meeting, and establishes a framework to ratchet up ambition by driving down global emissions in the decades to come.
This new global framework lays the foundation for countries to work together to put the world on a path to keeping global temperature rise well below 2 degrees Celsius and sets an ambitious vision to go even farther than that. This Agreement sends a strong signal to the private sector that the global economy is moving towards clean energy, and that through innovation and ingenuity, we can achieve our climate objectives while creating new jobs, raising standards of living and lifting millions out of poverty.
The Paris Agreement is also the culmination of a broader effort by nations, businesses, cities, and citizens to reorient the global economy to a path of low-carbon growth – progress that will accelerate as a result of the Agreement’s provisions on mitigation ambition, transparency, and climate finance.
An Ambitious Agreement
The Paris Agreement sets forward an ambitious vision for tackling climate change globally. This includes:
Strengthening long-term ambition:The Agreement sets a goal of keeping warming well below 2 degrees Celsius and for the first time agrees to pursue efforts to limit the increase in temperatures to 1.5 degrees Celsius. It also acknowledges that in order to meet that target, countries should aim to peak greenhouse gas emissions as soon as possible.
Establishing a universal approach for all countries:The Agreement moves beyond dividing the world into outdated categories of developed and developing countries and instead directs all parties to prepare, communicate and maintain successive and ambitious nationally determined climate targets. This approach – where countries set non-binding targets for themselves – paved the way for 187 mitigation contributions this year and will form the basis for a long-term, durable system to ratchet down emissions.
Locking in five year target cycles:Under the Agreement, all countries will communicate their climate targets every five years, starting in 2020. Targets must be submitted 9-12 months before they are finalized, creating time for other countries and civil society to seek clarity about the targets submitted.
Ratcheting up ambition over time:Each target should reflect progress from the prior one, reflecting the highest possible ambition that each country can achieve. This durable, long term framework will drive greater climate ambition as technologies improve and circumstances change.
Rigorous assessment of global climate action:To help inform further domestic and global efforts, the Agreement puts in place a mechanism to assess collective progress on global mitigation action using the best available science. This process will begin in 2018 and occur every five years to help inform countries’ future targets and strategies.
Sending a market signal on innovation and technology:The mitigation components of the Agreement, combined with a broad push on innovation and technology, will help significantly scale up energy investments over the coming years – investments that will accelerate cost reductions for renewable energy and other low-carbon solutions. This set of actions will create a mutually reinforcing cycle in which enhanced mitigation increases investment and enhanced investment allows additional mitigation by driving down costs.
A Transparent and Accountable Agreement
The Paris Agreement establishes a robust transparency system to help make sure that all countries are living up to their commitments. This will send a market signal to the private sector and investors that countries are serious about meeting the targets they have set. These steps include:
Putting in place an enhanced transparency system for all countries:A critical component of the Agreement, the transparency framework agreed to by parties ensures that all countries are on a level playing field with the United States with flexibility for those developing countries with less capacity.
Requiring countries to report on greenhouse gas inventories: For the first time, the Agreement requires all countries to report on national inventories of emissions by source. This breakthrough will give unprecedented clarity to the public’s understanding of emissions and pollution in countries throughout the world.
Requiring countries to report on mitigation progress:Also for the first time, countries are required to report on information necessary to track progress made in implementing and achieving the targets and strategies countries have put forward.
Establishing a technical review process with agreed upon standards:To help ensure countries are meeting transparency requirements, countries are subject to a comprehensive technical expert review process that analyzes whether reporting is in line with the standards adopted. Countries will also engage in a multilateral review with their peers to share their experiences and lessons learned.
An Agreement for a Low-Carbon Future
Tackling climate change will require shifting global investment flows towards clean energy, forest protection, and climate-resilient infrastructure. Developing countries, particularly the most vulnerable, will need support from the global community as they pursue clean and resilient growth. The Paris Agreement makes real progress on this front by:
Providing a strong, long-term market signal that the world is locking in a low-carbon future:The submission of ambitious national targets in five-year cycles gives investors and technology innovators a clear signal that the world will demand clean power plants, energy efficient factories and buildings, and low-carbon transportation not just in the short-term but in the decades to come. This will make it far easier to draw in the largest pools of capital that need long-term certainty in order to invest in clean technologies.
Giving confidence that existing financial commitments will be met:Many developing countries, particularly the poorest and most vulnerable, came to Paris seeking reassurance that a global climate deal is not just about the big emitters but also supports their transition to a low-carbon growth path. In this regard, we are already making strong progress towards meeting the existing goal to mobilize $100 billion from a wide variety of sources, including both public and private, by 2020. The Paris outcome provides further confidence that this goal will be met and that climate finance will continue to flow. For the first time, the Agreement recognizes the reality that countries like China are already joining the base of donor countries contributing to climate finance and encourages developing countries to contribute to climate finance, while reaffirming that the United States and other developed economies should continue to take the lead.
These components of the Agreement build on steps the United States took in Paris to demonstrate its commitment to mobilizing finance from public and private sources for both mitigation and adaptation activities in developing countries. These steps include:
Launching Mission Innovation:On the first day of the conference, President Obama joined other world leaders to launch Mission Innovation, a landmark commitment to accelerate public and private global clean energy innovation, and dramatically expand the new technologies that will define a clean, affordable, and reliable global power mix. Twenty countries representing around 80% of global clean energy research and development (R&D) funding base committed to double their R&D investments over five years. In addition, a coalition of 28 global investors led by Bill Gates committed to support early-stage breakthrough energy technologies in countries that have joined Mission Innovation.
Doubling U.S. grant-based public finance for adaptation by 2020: Secretary of State John Kerry announced that the United States will double its grant-based, public climate finance for adaptation by 2020. As of 2014, the United States invested more than $400 million per year of grant-based resources for climate adaptation in developing countries. These investments provide vulnerable countries with support – through both bilateral and multilateral channels – to reduce climate risks in key areas, including infrastructure, agriculture, health and water services.
An Agreement Complemented by Subnational, Private Sector and Citizen Action
Because the Agreement should serve as a floor for future ambitious climate action, complementary actions outside of the Agreement by sub-national governments, enterprising businesses, investors and entrepreneurs, and an enlightened global public are important complements to the Paris Agreement. As part of these global efforts, Americans have demonstrated their dedication to climate action through a wide variety of commitments.
Compact of Mayors:117 United States mayors have signed onto the Compact of Mayors pledge. The Compact establishes a common platform to capture the impact of cities’ collective actions through standardized measurement of emissions and climate risk, and consistent, public reporting of their efforts.
Under-2 MOU:States including California, Oregon, Vermont, Washington, Minnesota, New Hampshire, and New York have signed onto the Under-2 MOU. The MOU commits signatories to cut greenhouse gas emissions 80-95% below 1990 levels, share technology and scientific research, expand zero-emission vehicles, improve air quality by reducing short-lived climate pollutants and assess projected impacts of climate change on communities.
American Business Act on Climate Pledge:154 companies have signed the White House’s American Business Act on Climate Pledge. These companies have operations in all 50 states, employ nearly 11 million people, represent more than $4.2 trillion in annual revenue and have a combined market capitalization of over $7 trillion. As part of this initiative, each company expressed support for an ambitious Paris Agreement and announced significant pledges to reduce their emissions, increase low-carbon investments, deploy more clean energy and take other actions to build more sustainable businesses and tackle climate change.
American Campuses Act on Climate Pledge:311 colleges and universities representing over 4 million students have demonstrated their commitment to climate action by joining the American Campuses Act on Climate Pledge.
