On Tuesday, SuperGreen Solutions’ Mid-Atlantic Charlotte Office was invited to join in a private call in which Dan Utech, Special Assistant to the President for Energy and Climate Change, and Steve Dreyer, Managing Director for the U.S. Utilities and Infrastructure Ratings Services, spoke about the changes businesses and investors are making as a result of climate change and severe weather.
The discussion started with an overview of how many industries are feeling the impact and stress of climate change. Recently, utility authorities have been feeling stress in California due to the droughts and the insurance industry have had many casualties due to severe weather, such as Hurricane Andrew in Florida. Many are starting to make decisions as liabilities and planning long term changes through strategic planning.
Recently, Obama has proposed several regulation including the Oceans Protection Proposal, which would create the world’s largest marine preserve, and Obama’s Power Plant regulation, that would cut the nation’s power plant greenhouse-gas emissions by 30% from 2005 levels.
“Climate impacts are being felt in a varieties of ways. We are looking for a variety of ways to protect our nation and businesses from these climate changes,” said Utech.
Utech and Dreyer also spoke about Green Bonds, which has proved to be popular within Europe’s industrial industry, but are not widely used in the U.S. yet. The Administration expects this to change, especially in the U.S.’s power and auto industry, as green technologies and regulations increase.
Green Bonds were created in 2008 as a response to increase investor demand to engage and fund environmental- friendly projects, such as clean water, renewable energy, and energy efficiency. It raises industry engagement by providing transparency by regular reporting on new processes and technology that allows investors to understand the challenges and thus diversify risks.
“We like the fact that the Administration is thinking outside of the box with ideas, such as Green Bonds, said Thomas Hsaio, President of SuperGreen Solutions of the Mid-Atlantic Charlotte office. “Similar programs here in the U.S., such as PACE Programing, has proven to be very successful at helping private companies and citizens invest in green technologies. Here at SuperGreen Solutions, we hope to engage more commercial neighbors to invest in energy-efficient solutions and technology.”