By Clara Vondrich
Where goes investment, there goes the climate. This is the fact today as we stand on the brink of locking in irreversible climate change with our fossil-heavy economy. Like never before, institutional investors have the power to make or break the future.
The International Energy Agency published a bombshell report in 2011 noting that our climate fate would be sealed by 2017 without a rapid departure from business as usual. By that year, dangerous warming of more than 2 degrees Celsius would be locked in by a global system of long-lived pipelines, refineries, power plants and transportation systems. Since then, the "safe" level of warming has been tightened further to 1.5 degrees, with evidence that 2 degrees is a death warrant for many island nations.
It's now 2017 and the pace of the clean energy transition still lags behind the physics. Some say 2 degrees, much less 1.5 degrees, is a pipe dream. The upshot is that every investment we make into our energy system matters, bringing us either closer to or further away from climate hell. By this measure, the policies of China—closing its coal plants and committing hundreds of billions of dollars to renewable energy—are prudent, while the rhetoric and policies of the Trump administration—promising to rebuild America's coal industry and firing off executive orders to fast track the Keystone XL and Dakota Access pipelines—are retrograde. One creates an enabling environment for progress and thriving, the other is disabling and destabilizing.
China Leaves U.S. in Dust With $361 Billion Renewable Energy Investment https://t.co/4GfhGZhcyX @BusinessGreen— EcoWatch (@EcoWatch)1483871415.0
In the face of Trump's commitment to double-down on dirty energy, the DivestInvest movement is more important than ever. The investor class manages trillions in assets that will either be used to build the clean energy future or keep us mired in the past. Luckily, nearly 700 institutional investors managing assets in excess of $5 trillion have made some form of fossil fuel divestment commitment. This includes global insurance companies like Allianz, sovereign wealth funds like Norway's and preeminent universities, cities, faith organizations and foundations.
Still, to divest is not enough. A commitment to invest in the clean energy future—renewable energy, efficiency, sustainable agriculture and forestry, water and cleantech—is just as crucial. The whole energy system must be rebuilt, reimagined—moving away from a monolith of centralized power stations to a mix of utility grade wind and solar farms, microgrids and distributed clean energy systems. The foundations of DivestInvest Philanthropy understand this and hence their commitment to invest part of their portfolio annually into climate change solutions.
Investors in the future have the markets at their backs: Electricity from solar and wind power is now as cheap—or cheaper—than its fossil counterparts in much of the world.
Batteries are sailing down their cost curves with price reductions of 60 percent or more over the past 6 years. Electric vehicles are projected to hit parity with gasoline cars by 2022, a point totally disruptive to the oil industry. 2015 saw the world's highest annual investment into clean energy of almost $350 billion. Renewable energy comprised more than half of all new power-generating capacity that year, overtaking coal in total installed power capacity worldwide. Coupled with the formidable market signal of the Paris climate agreement, investors in the clean energy economy are in pole position to do well while doing good.
Meanwhile, the carbon bubble is bursting—sometimes quickly, sometimes slowly. Coal's fall was fast and furious: The Dow Jones U.S. Coal Index dropped more than 80 percent over the past five years and former lions of industry Peabody and Arch Coal have filed for bankruptcy. Oil and gas seem poised to limp along a few more years, though prices remain depressed and volatile. Last month, Chevron posted its first loss in decades, while Exxon saw its smallest quarterly profit in 17 years: Most striking, it also wrote off $2 billion in gas fields—finally admitting it was not immune to stranded assets. Shell itself says that oil demand will likely peak within the next five years followed by precipitous declines as electric vehicles come on-line en masse.
It's Official: Solar Energy Cheaper Than Fossil Fuels https://t.co/BEGahnj1tM @Solar_Editor @solarcentury— EcoWatch (@EcoWatch)1483002912.0
Yet, among institutional investors, there remains anxiety around the perceived lack of green products to sink their teeth into. But two new reports by Mercer and Croatan Institute chip away at the myth that there are not adequate investment opportunities into the clean energy future. Each assessment takes a portfolio-wide approach, looking at opportunities across all asset classes of a typical institutional portfolio.
The Mercer work provides the most comprehensive analysis of funds consistent with the DivestInvest pledge, looking at opportunities across public equity, fixed income, absolute return/hedge funds, private equity and infrastructure. The emphasis is on commingled institutional investment vehicles (pooled funds), rather than mutual funds, which have been catalogued by other groups. Mercer's full product list is available to DivestInvest signatories.
Meanwhile, the Croatan Report explores investments in climate solutions that also have a direct benefit to the local community. Many of the investments featured in the Croatan Report are consistent with the notion of a Just Transition, the idea that the clean energy transition should not recreate old and broken power structures that benefit the few at the expense of the many: Rather, investments should be made with intention to revive and rebuild communities, fostering job creation and local ownership of renewable energy systems where possible. The report is anchored in inspiring case studies featuring DivestInvest Philanthropy members.
These reports are essential contributions—showing that there is a robust and growing supply of investment-grade opportunities in the clean energy transition. In 2017, the stakes couldn't be higher.
Clara Vondrich is the director of DivestInvest Philanthropy.
Fifteen states are in for an unusually noisy spring.
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Deep in the woods, a hairy, ape-like man is said to be living a quiet and secluded life. While some deny the creature's existence, others spend their lives trying to prove it.
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By Jon Queally
Noted author and 350.org co-founder Bill McKibben was among the first to celebrate word that the president of the European Investment Bank on Wednesday openly declared, "To put it mildly, gas is over" — an admission that squares with what climate experts and economists have been saying for years if not decades.
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Nine feet tall is gigantic by human standards, but when researcher and conservationist Michael Brown spotted a giraffe in Uganda's Murchison Falls National Park that measured nine feet, four inches, he was shocked.
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By Daisy Simmons
1. Stay Informed<p>A first order of business in pet evacuation planning is to understand and be ready for the possible threats in your area. Visit <a href="https://www.ready.gov/be-informed" target="_blank">Ready.gov</a> to learn more about preparing for potential disasters such as floods, hurricanes, and wildfires. Then pay attention to related updates by tuning <a href="http://www.weather.gov/nwr/" target="_blank">NOAA Weather Radio</a> to your local emergency station or using the <a href="https://www.fema.gov/mobile-app" target="_blank">FEMA app</a> to get National Weather Service alerts.</p>
2. Ensure Your Pet is Easily Identifiable<p><span>Household pets, including indoor cats, should wear collars with ID tags that have your mobile phone number. </span><a href="https://www.avma.org/microchipping-animals-faq" target="_blank" rel="noopener noreferrer">Microchipping</a><span> your pets will also improve your chances of reunion should you become separated. Be sure to add an emergency contact for friends or relatives outside your immediate area.</span></p><p>Additionally, use <a href="https://secure.aspca.org/take-action/order-your-pet-safety-pack" target="_blank" rel="noopener noreferrer">'animals inside' door/window stickers</a> to show rescue workers how many pets live there. (If you evacuate with your pets, quickly write "Evacuated" on the sticker so first responders don't waste time searching for them.)</p>
3. Make a Pet Evacuation Plan<p> "No family disaster plan is complete without including your pets and all of your animals," says veterinarian Heather Case in <a href="https://www.youtube.com/watch?v=Q9NRJkFKAm4" target="_blank">a video</a> produced by the American Veterinary Medical Association.</p><p>It's important to determine where to take your pet in the event of an emergency.</p><p>Red Cross shelters and many other emergency shelters allow only service animals. Ask your vet, local animal shelters, and emergency management officials for information on local and regional animal sheltering options.</p><p>For those with access to the rare shelter that allows pets, CDC offers <a href="https://www.cdc.gov/healthypets/emergencies/pets-in-evacuation-centers.html" target="_blank">tips on what to expect</a> there, including potential health risks and hygiene best practices.</p><p>Beyond that, talk with family or friends outside the evacuation area about potentially hosting you and/or your pet if you're comfortable doing so. Search for pet-friendly hotel or boarding options along key evacuation routes.</p><p>If you have exotic pets or a mix of large and small animals, you may need to identify multiple locations to shelter them.</p><p>For other household pets like hamsters, snakes, and fish, the SPCA recommends that if they normally live in a cage, they should be transported in that cage. If the enclosure is too big to transport, however, transfer them to a smaller container temporarily. (More on that <a href="https://www.spcai.org/take-action/emergency-preparedness/evacuation-how-to-be-pet-prepared" target="_blank" rel="noopener noreferrer">here</a>.)</p><p>For any pet, a key step is to establish who in your household will be the point person for gathering up pets and bringing their supplies. Keep in mind that you may not be home when disaster strikes, so come up with a Plan B. For example, you might form a buddy system with neighbors with pets, or coordinate with a trusted pet sitter.</p>
4. Prepare a Pet Evacuation Kit<p>Like the emergency preparedness kit you'd prepare for humans, assemble basic survival items for your pets in a sturdy, easy-to-grab container. Items should include:</p><ul><li>Water, food, and medicine to last a week or two;</li><li>Water, food bowls, and a can opener if packing wet food;</li><li>Litter supplies for cats (a shoebox lined with a plastic bag and litter may work);</li><li>Leashes, harnesses, or vehicle restraints if applicable;</li><li>A <a href="https://www.avma.org/resources/pet-owners/emergencycare/pet-first-aid-supplies-checklist" target="_blank">pet first aid kit</a>;</li><li>A sturdy carrier or crate for each cat or dog. In addition to easing transport, these may serve as your pet's most familiar or safe space in an unfamiliar environment;</li><li>A favorite toy and/or blanket;</li><li>If your pet is prone to anxiety or stress, the American Kennel Club suggests adding <a href="https://www.akc.org/expert-advice/home-living/create-emergency-evacuation-plan-dog/" target="_blank" rel="noopener noreferrer">stress-relieving items</a> like an anxiety vest or calming sprays.</li></ul><p>In the not-unlikely event that you and your pet have to shelter in different places, your kit should also include:</p><ul><li>Detailed information including contact information for you, your vet, and other emergency contacts;</li><li>A list with phone numbers and addresses of potential destinations, including pet-friendly hotels and emergency boarding facilities near your planned evacuation routes, plus friends or relatives in other areas who might be willing to host you or your pet;</li><li>Medical information including vaccine records and a current rabies vaccination tag;</li><li>Feeding notes including portions and sizes in case you need to leave your pet in someone else's care;</li><li>A photo of you and your pet for identification purposes.</li></ul>
5. Be Ready to Evacuate at Any Time<p>It's always wise to be prepared, but stay especially vigilant in high-risk periods during fire or hurricane season. Practice evacuating at different times of day. Make sure your grab-and-go kit is up to date and in a convenient location, and keep leashes and carriers by the exit door. You might even stow a thick pillowcase under your bed for middle-of-the-night, dash-out emergencies when you don't have time to coax an anxious pet into a carrier. If forecasters warn of potential wildfire, a hurricane, or other dangerous conditions, bring outdoor pets inside so you can keep a close eye on them.</p><p>As with any emergency, the key is to be prepared. As the American Kennel Club points out, "If you panic, it will agitate your dog. Therefore, <a href="https://www.akc.org/expert-advice/home-living/create-emergency-evacuation-plan-dog/" target="_blank" rel="noopener noreferrer">pet disaster preparedness</a> will not only reduce your anxiety but will help reduce your pet's anxiety too."</p>
Evacuating Horses and Other Farm Animals<p>The same basic principles apply for evacuating horses and most other livestock. Provide each with some form of identification. Ensure that adequate food, water, and medicine are available. And develop a clear plan on where to go and how to get there.</p><p>Sheltering and transporting farm animals requires careful coordination, from identifying potential shelter space at fairgrounds, racetracks, or pastures, to ensuring enough space is available in vehicles and trailers – not to mention handlers and drivers on hand to support the effort.</p><p>For most farm animals, the Red Cross advises that you consider precautionary evacuation when a threat seems imminent but evacuation orders haven't yet been announced. The American Veterinary Medical Association has <a href="https://www.avma.org/resources/pet-owners/emergencycare/large-animals-and-livestock-disasters" target="_blank">more information</a>.</p>
Bottom Line: If You Need to Evacuate, So Do Your Pets<p>As the Humane Society warns, pets left behind in a disaster can easily be injured, lost, or killed. Plan ahead to make sure you can safely evacuate your entire household – furry members included.</p>
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