Category Archives: Climate PR

DOL Will Not Enforce Anti-ESG, Trump-Era Rules

March 11, 2021

DOL Will Not Enforce Anti-ESG, Trump-Era Rules

WASHINGTON, D.C. — The U.S. Department of Labor (DOL) announced Wednesday that it will not be enforcing two rules finalized under the Trump administration in 2020 intended to slow the growth of Environmental, Social and Governance (ESG) investing. Following is a statement from Gregory Wetstone, President and CEO of the American Council on Renewable Energy (ACORE):

“We welcome this timely decision by President Biden’s Labor Department. These Trump-era rules were intentionally designed to override the free market and hamstring ESG investing, one of the nation’s most important and fastest-growing finance trends. ESG investments consistently outperform the market and are often recognized as the best choice for realizing maximum long-term returns. We are hopeful that Labor officials will soon reverse these misguided policies entirely and instead adopt rules that support and enhance sustainable investments nationwide.”

 

Background

ACORE forcefully pushed back on these two rules in 2020. To read our submitted comments on the Financial Factors in Selecting Plan Investments rule, click here. To read our submitted comments on the Fiduciary Duties Regarding Proxy Voting and Shareholder Rights rule, click here.

 

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About ACORE:
Founded in 2001, the American Council on Renewable Energy (ACORE) is the nation’s premier pan-renewable organization uniting finance, policy and technology to accelerate the transition to a renewable energy economy. For more information, please visit www.acore.org.

 

Media Contact:
Alex Hobson, Vice President of Communications, ACORE
hobson@acore.org | 202.777.7584 (o) | 202.594.0706 (c)

The post DOL Will Not Enforce Anti-ESG, Trump-Era Rules appeared first on ACORE.

ACORE Statement on CLEAN Future Act

March 2, 2021

ACORE Statement on CLEAN Future Act

Statement From Gregory Wetstone, President and CEO of the American Council on Renewable Energy (ACORE):

“The CLEAN Future Act reflects the kind of comprehensive legislative approach we will need to start tackling the climate crisis. The inclusion of a federal high-penetration clean energy standard represents one of the most direct and reliable ways to ensure critical emissions reductions in the power sector. We’re also pleased to see a first-ever national policy on electric transmission so integral to the ongoing energy transition, along with a number of commonsense steps toward a 21st century Macro Grid that will deliver job growth and economic development, a cleaner environment and lower costs for consumers. We applaud the legislation’s support for domestic clean energy manufacturing, inclusive workforce development and equitable access to renewable power, and we look forward to working with Chairmen Pallone, Tonko and Rush on this important and timely initiative.”

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About ACORE:
Founded in 2001, the American Council on Renewable Energy (ACORE) is the nation’s premier pan-renewable organization uniting finance, policy and technology to accelerate the transition to a renewable energy economy. For more information, please visit www.acore.org.

 

Media Contact:
Alex Hobson, Vice President of Communications, ACORE
hobson@acore.org | 202.777.7584 (o) | 202.594.0706 (c)

The post ACORE Statement on CLEAN Future Act appeared first on ACORE.

ACORE Statement on Heartland Power Outages

February 16, 2021

ACORE Statement on Heartland Power Outages

Statement from Gregory Wetstone, President and CEO of the American Council on Renewable Energy (ACORE):

“As electricity generators work feverishly to restore power to millions of Americans, the serious problems on the grid today in Texas and much of the nation’s heartland reinforce the importance of critical investment in our nation’s grid infrastructure. The challenges are not due to the energy transition; they are due to an outdated grid that’s incapable of handling an increasing number of climate-driven extreme weather events. Data from the Electric Reliability Council of Texas (ERCOT), which manages the electricity grid in Texas, shows that fossil fuels make up the bulk of the power currently forced offline.

“During the height of power outages this holiday weekend, over 5 million Midwestern homes saw their lights stay on due to seven gigawatts (GW) of electricity shared from a regional grid in the East, PJM, to one in the Midwest, MISO. This was made possible by some of the very limited interregional transmission in the U.S. Building out more high-capacity interregional lines is an essential part of the effort to ensure grid reliability in an era of climate change. An analysis released just yesterday by the Bill Gates group Breakthrough Energy reinforces this fact, deeming high-voltage transmission infrastructure ‘critical’ to ensuring that grid operators can provide reliable service while reducing overall carbon emissions.

“It’s time for Congress to pass an ambitious infrastructure initiative aimed at expanding and upgrading America’s grid. With an advanced grid that better connects balkanized regional systems, we can prevent dangerous, widespread power outages from becoming the new normal, better harness our nation’s abundant renewable resources, and meet our climate objectives.”

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About ACORE:
Founded in 2001, the American Council on Renewable Energy (ACORE) is the nation’s premier pan-renewable organization uniting finance, policy and technology to accelerate the transition to a renewable energy economy. For more information, please visit www.acore.org.

Media Contact:
Alex Hobson, Vice President of Communications, ACORE
hobson@acore.org | 202.777.7584 (o) | 202.594.0706 (c)

The post ACORE Statement on Heartland Power Outages appeared first on ACORE.