Smart Cities Dive: National Climate Bank could mobilize $1T, report finds
“The Climate Bank would operate similar to a development bank, according to CGC, and would be able to partner with private investors to maximize impact and finance large-scale projects. In addition, the bank could ‘open new markets for investment that will ultimately grow and receive financing without any Climate Bank participation,’ according to the report.”
LA Times: Los Angeles OKs a deal for record-cheap solar power and battery storage
“For a long time, there were two big knocks against solar power: It’s expensive, and it can’t keep the lights on after sundown. A contract approved Tuesday by the Los Angeles Department of Water and Power shows how much that reality has changed.”
Axios: Carbon tax campaign unveils new details and backers
“Expect more news from the group in about a month, including more members, new financial commitments to its lobbying arm and a six-figure advertising campaign in DC, according to CEO Ted Halstead. Halstead says the plan will be introduced in a bipartisan manner, ideally in both chambers of Congress, by year’s end.”
“Utilities routinely make modeling choices that disadvantage low-cost solar in their 15- or 20-year resource plans. With transparent modeling, states and intervenors could easily see those biased choices. And if they also have access to the same model used by the utility, they can fix those errors by running the model themselves, as recommended by a modeling expert. Billions of dollars are at stake.”
Funding key to curbing Southern Africa climate disasters
“The Development Bank of Southern Africa (DBSA) and the Green Climate Fund (GCF) have signed the deal which… seals the GCF’s investment into the DBSA’s Climate Finance Facility (CFF), a first-of-its-kind climate finance facility in Africa using a pioneering Green Bank model. The programme will target South Africa, Namibia, Lesotho, and Eswatini. However, officials indicated a strong potential for the project to be replicated in other developing countries to rapidly scale up private sector climate investments.”
Eurasia Review: EIB Begins Metamorphosis Into Climate Bank
“European Investment Bank (EIB) directors will begin discussing on Tuesday (10 September) an updated lending policy which could see the EU bank stop funding fossil fuel projects. But some member states and even the European Commission might push for a more reserved approach.”