Leading today's ten tidbits is a report by the Department of Energy that clean energy jobs account for 120,000 of the 300,000 jobs in the energy sector. Although evidence of the economic opportunities that carry along with a transition to a low carbon economy, Republicans on and off of Capitol Hill continue their attacks on the move to solar, wind, and other clean energy technologies.
Speaking of evidence, these have been some of the hottest days in recorded history. The world swelters, the seas rise, and there are still deniers bent on promoting fossil fuels—go figure.
House committees have been voting along party lines on several issues, including ESG investing. The Financial Services Committee looked into the role of proxy advisors and their role in promoting ESG investments. Republicans on Capitol Hill and in red states continue to bash away at the principle of investing—well, your principles. According to HSBC, the bashing is having a negative impact within investment circles.
Republicans on the House Energy and Commerce Committee marked up legislation that would halt EPA from issuing a final tailpipe emission standard. Balancing out the Republicans were a dozen Democratic senators and more than 80 House members who called on the Agency to put forward more strident regulations they are considering.
A group of Republican and Democratic House members are hoping to show they can come together around climate policies. Almost anything is possible, I guess.
The White House has announced another new program, creating a green bank for disadvantaged communities. Whether regulations or programs, the Biden administration is working 24/7 to get money out the door in advance of the 2024 elections—not only to point to accomplishments but to protect Inflation Reduction Funds should the Democrats lose their hold on Congress and the White House.
Rumors continue to fly on whether West Virginia Senator Joe Manchin will run as a third-party presidential candidate come November 2024. Polls continue to show that a moderate third-party candidate would weaken Biden's chances for re-election.
Fossil fuel protestors took to the field the other evening and halted the annual women's softball game between members of Congress and the Washington press corps. Look for many more demonstrations by climate activists wherever political policymakers gather in the coming months.
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We're hiring. A new report from the US Department of Energy DOE finds that the US energy sector workforce grew by 300,000 jobs in 2022. Clean energy jobs account for 40 percent of employment in the sector and are growing faster than the economy at large. (USDOE)
They're still at it. A Republican-led House Financial Services subcommittee held a second hearing Thursday scrutinizing the Biden administration's environmental, social, and governance disclosure proposals for public US companies.
The hearing zeroed in on the influence of proxy advisors on shareholder voting decisions on questions related to ESG investing. Republicans pushed back against the prioritization of ESG shareholder resolutions, while Democrats say shareholders deserve to be informed of all possible investment risks.
Proxy advisors recommend voting decisions on key resolutions before shareholders. They include firms like Glass Lewis — which had a representative appear before the Subcommittee on Oversight and Investigations on Thursday.
The hearing was the second of six scheduled this month on ESG investing by House Republicans. THIS YEAR, the GOP has leveraged its new majority power to criticize socially conscious investing and Biden administration policies designed to promote it. (CNBC)
And it's having an impact, according to a survey by HSBC Holdings Plc. Republican attacks on using ESG (environmental, social, and governance) criteria when making investment decisions affect how managers treat such considerations in their funds. (Bloomberg)
Hot enough for you? Temperatures are forecast to soar to among the worst in history and set records for electricity demand. Experts worry that this combination could create a nightmare scenario: a brutal heat wave and multiday blackout that, according to one study, could kill thousands of people and send half the city to the emergency room.
The article's author Kate Selig cautions that the likelihood of such a scenario — especially one as dire as the paper foreshadows — is low in a city such as Phoenix, where city officials and electricity providers say the power grid is highly reliable. (Washington Post)
Together again. In this hostile political environment, 58 House members — 29 from each side — believe they can now unite to find bipartisan compromise around climate policy.
It's a lofty goal yet to be tested in the current Congress. One that has been tried before with mixed results. (E&E Daily)
Banking on justice. The Biden administration is set to announce $20 billion in "green bank" funding created by the Inflation Reduction Act to focus on clean energy projects in disadvantaged communities. The funding will be split into two programs – one worth $14 billion and the other worth $6 billion – offering competitive grants to states, tribes, and nonprofits. (The Associated Press)
Tough enough, is it? A dozen Democratic senators and more than 80 House members are calling on the Environmental Protection Agency to finalize stricter tailpipe emissions limits than it proposed in April. The more stringent limits, which have garnered opposition from most automakers, would mandate that 69 percent of new vehicles be electric in the 2032 model year, instead of the EPA's initial 67 percent target, according to a letter seen by Reuters. (Reuters)
Too tough for us. The House Subcommittee on Environment, Manufacturing, and Critical Materials marked up HR 4468, which would prohibit the EPA from finalizing its proposed tailpipe emissions rule, which seeks to raise EV sales targets to 67per cent by 2032. (House Energy and Commerce Committee)
Play ball, not. The annual Congressional Women's Softball Game stopped for 10 to 15 minutes on Wednesday night when climate change protesters took over Watkins Recreation Field. They wore white T-shirts saying "End fossil fuels" and linked arms in a circle on the field. US Capitol Police approached the chanting protesters and walked them off the field. (Washington Examiner)
No labels, no Joe? Sen. Joe Manchin III (D-W.Va.) plans to headline an event in New Hampshire sponsored by the bipartisan group No Labels next week. This move has stoked speculation that he could mount a third-party presidential bid in 2024 that Democrats fear could damage President Biden.
Two polls have shown that should Manchin or another centrist run on a third-party ticket; they would swing the election to Trump in a re-match of the 2020 election.
Image courtesy of Jose Fontano and Unsplash