Category Archives: Tax 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.

 

##

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.

45 Organizations Call for Long-Term Clean Energy and Clean Transportation Tax Platform To Help Effectively Address the Climate Crisis

February 5, 2021

45 Organizations Call for Long-Term Clean Energy and Clean Transportation Tax Platform To Help Effectively Address the Climate Crisis

WASHINGTON, D.C. — In a letter delivered today to President Biden, key members of the Biden administration, and Congressional leadership, a multi-sector coalition of 45 organizations is asking for the inclusion of a stable, predictable, and long-term tax platform for clean energy and clean transportation incentives in the earliest possible legislative vehicle this year.

“Clean energy and clean transportation can play a critical role advancing our economic recovery, putting people back to work, and laying the foundation for a cleaner, healthier and more prosperous future,” the organizations write. “While the clean energy provisions in last year’s spending package provided emergency relief and a down payment on the comprehensive federal policy response we know is required, it is imperative that we now move beyond endless cycles of short-term stopgap measures and towards a long-term clean energy and clean transportation tax platform capable of effectively addressing the climate crisis.”

The coalition requests a tax platform that:

  • Provides full-value, long-term incentives for solar, wind and other qualifying technologies
  • Extends the new offshore wind investment tax credit (ITC) with production tax credit (PTC) optionality
  • Makes energy storage and high-voltage transmission eligible for an investment tax credit on a standalone basis
  • Modernizes the tax incentives for commercial and residential energy efficiency improvements
  • Extends and modifies the tax credit for alternative fuel infrastructure
  • Revives the tax credit for domestic clean energy manufacturing
  • Ensures broad consumer accessibility for the EV tax credit by shifting out of the current per-manufacturer cap structure and makes it available for a longer period of time

The letter was signed by Advanced Energy Economy, Alliance to Save Energy, American Clean Power Association, American Council on Renewable Energy, Building Performance Association, Business Network for Offshore Wind, CALSTART, Citizens Climate Lobby, Climate Reality Project, Columban Center for Advocacy and Outreach, E2 (Environmental Entrepreneurs), E4theFuture, Earthjustice, Environment America, Environmental Defense Fund, EV Drive Coalition, Evangelical Environmental Network, Friends Committee on National Legislation, Health Care Without Harm, Interfaith Power and Light, Interwest Energy Alliance, League of Conservation Voters, Maryknoll Sisters Eastern Region USA, MCC U.S. Washington Office, NAESCO (National Association of Energy Service Companies), National Association of State Energy Officials, National Audubon Society, National Hispanic Medical Association, National Hydropower Association, National Wildlife Federation, Natural Resources Defense Council, Plug In America, Protect Our Winters, Sierra Club, Solar Energy Industries Association, Voices for Progress, Vote Solar, U.S. Energy Storage Association, U.S. Green Building Council, U.S. Public Interest Research Group, Union of Concerned Scientists, Union for Reform Judaism, Unitarian Universalists for Social Justice, World Wildlife Fund, Zero Emission Transportation Association.

Click here to download a copy of the coalition letter.

##

 

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 Contacts:

Alex Hobson, ACORE
hobson@acore.org | (202) 594-0706

Mark Drajem, NRDC

mdrajem@nrdc.org | (202) 297-5444

Morgan Lyons, SEIA

mlyons@seia.org | (860) 575-5729

The post 45 Organizations Call for Long-Term Clean Energy and Clean Transportation Tax Platform To Help Effectively Address the Climate Crisis appeared first on ACORE.