Investors Tell Congress: Go Green Now and Private Investment Will Follow
by Stacy Morford - Jan 28th, 2009
in
Forty-four of the nation’s largest investors are urging Congress to seize the most important opportunity the nation has had in years and pass a far-reaching economic stimulus bill that funds energy efficiency, clean energy, and clean transportation.
If Congress acts now and acts wisely, private investment will follow, writes Kevin Parker, global head of Deutsche Asset Management, one of the 44.
This is not a group to be taken lightly. Together, its members represent $1.7 trillion worth of assets. They include the massive California Public Employees Retirement System (CalPERS), which is worth $174 billion alone, as well as the Florida State Treasury and the New York State Comptroller’s Office.
Mindy S. Lubber, president of Ceres and director of the Investor Network on Climate Risk, touched on some of their recommendations in her post yesterday. The group doesn't want the federal government to start picking technology winners and losers, the way Treasury officials did with the bank bailout. Instead, it says, the stimulus plan should encourage a portfolio of technologies that will create jobs, new industries and new investment.
The immediate actions with the most potential economic upside, in the eyes of the investors, involve making the nation’s buildings, power grid, vehicles and homes more energy efficient. Investing in smart grid technology, including smart metering in homes and businesses, would clear the way for major efficiency and renewable energy improvements that could significantly cut energy waste and greenhouse gas emissions, encourage conservation, reduce the peak energy loads that force utilities to fire up additional plants, and at the same time put wind and solar power to optimal use.
"The economic downturn provides a historic opportunity for government to take charge of the fight against climate change rather being a reason to put off action," Parker said. "A 'green' stimulus will also have a wider effect by providing leadership for additional investment from the private sector."
In a letter to Congressional leaders, the investors urged the government to pressure lagging states by steering stimulus funds to those that adopt energy efficiency standards and emphasize efficiency over power plant expansion. To keep renewable resources on track, they urged Congress to extend the Production Tax Credit, which favors wind, geothermal and biomass projects. A study by consulting firm Navigant determined that the credits’ expiration in the past typically caused a 73 percent to 93 percent drop in new installations. That translates to fewer jobs and less investment, precisely what the stimulus plan seeks to avoid.
Our ability to continue to invest in the renewable energy and energy efficiency industries, and accelerate the growth of these industries, depends on a comprehensive and stable set of supportive policies, including the long-term extension of the PTC.
With the dire economic conditions we are facing, this is no time to fail to pass this critical legislation and thereby interrupt the greatest economic growth and job creation potential the U.S. market faces.
That's some big money talking. Let's hope Congress will set aside its political differences for the next few weeks and listen.
See also:
Economic Stimulus (Part I): Only 16% Green?
Economic Stimulus (Part II): Show Me the Vision
Economic Stimulus (Part III): Can the Recipients Handle It?
Video: The Economic Wisdom of a Green Recovery
Simple Fix in Stimulus Plan Could Boost Impact of Billions of Dollars for Energy Efficiency
Invest in Green Energy for a Long-Term Stimulus
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| Investor Network on Climate Risk letter to Congres.pdf | 55.81 KB |
Green Technolgy VS Green Engineering > MEALER COMPANIES <
This is exactly what many investors need to keep in mind when approached by viable alternatives to Green Technologies.
Did I just type "alternatives to Green Technologies" on purpose?
Yes as a matter of fact I did.
Technology is the better use of existing problerms and has notbing to do with solving anything. Technology only prolongs the after effect of bad ideas.
For example:
An automobile that imroves gas mileage from 25 mpg to 50 mpg is only cutting the real problem in half. The "problem" is really not this idea of man made global climate change, and as far as most scientists are concerned, the idea is just a wet dream. Climate change is very real... But as natural as solar flares create climate change.
The best thing that comes from reduced crude oil and gasoline/diesel use is that global terrorists have less funding from Islamic Oil Shieks and Islam run Mid-East governments to murder each other and the rest of us infidels. **But Obama and US Secretary of State Clinton are taking care of that lack of terrorist funding issue by directly handing out cash in the scope of humanity... Or something of that nature.
A bit of added CO2 from automobiles and pollution out from China's and India's manufacturing smoke stacks does give the air enough particles to slow the Earth's normal air-filtering process... But we have no choice in the matter except to cancel the Communist forced labor and Made in China products from being sold worlwide and canceling India's child slave sweatshop labor trade.
Technology really means making better use of nuclear and coal burning plants to charge EVs while overlooking the need to invent an ecologically safe way to dispose of toxic batteries and spent nuclear fuel. The latter, my friends, is not going to happen. Toxic batteries that drive EVs and coal pollution along with the billions of tons of enriched uranium (each year) from power plants will leave longer lasting effects than the immediate damage caused by Al Queda training a mentally challenged and destitute Muslim to strap a bomb on their chest and walk into a cafe in Europe.
GREEN ENGINEERING is a whole different subject.
Mealer Companies LLC aka Mealer American Motors Corporation has the Green Engineered vehicle that uses no fossil fuels, is not an EV, yet utilizes a series of
eco-friendly, patented devices which creates a virtually maintenace free mode of transportation (full sized and full powered for the American lifestyle). To top it off, this extraordinairy automobile will provide full up to 3-Phase electrical power a retrofitted home or office when it is not being used to tool around the highways and byways.
Gas stations and extension cords are not needed.
This is about making things right again. This is about being an American. A Britain.
A Frenchman. A Peruvian. A Russian. A Mexican. A Guatamalen. An African. An Irishman. and so on... This is NOT about globalism, this is not about greed.
Mealer Companies funding is coming, but ever so slowly. America and the world really do not have the time to wait for any politician to pass another law. Let's climb on board and make some profits while saving the economy.
http://betterconstructed.com
JL Mealer
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