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December 24 2013

18:11

Gifts That Keep On Giving: Pledges to Mosaic’s “Put Solar On It”

Christmas and the year-end holidays mark a season of giving in the U.S. and around the world. In that spirit, Mosaic – the pioneering solar energy energy provider whose “crowdsourcing” online investment platform enables individuals to earn income by directly investing in residential and commercial solar photovoltaic (PV) projects – is launching a campaign to “Put Solar On It.”

A 2014 New Year’s resolution campaign for the Oakland-based solar energy company, anyone can use “Put Solar On It” to pledge to put a solar PV system “on a local home, school, place of worship, business, or other property,” Mosaic explains in a press release.

Mosaic SolarPledging to Put Solar PV on a Rooftop

Mosaic’s “Put Solar On It,” New Year’s resolution campaign for 2014 has garnered some celebrity interest. Actor Mark Ruffalo, who played The Hulk in the Avengers film version of the comic books, has pledged to put a solar PV system on his children’s elementary school – Stephen Gaynor Elementary in Manhattan, NYC.

As Ruffalo explained,

“I’m helping put solar on my kids’ school to save the school money and free up resources that will be aimed at their education instead of fossil fuels. We can also demonstrate the shining future that is now within our grasp. I love that Mosaic is making it possible for all people to participate in an economy meant for all — the solar economy. We are powerful.”

In turn, the Make It Right foundation has pledged to put solar PV on a home for a family living in New Orleans’ Lower 9th Ward. Pledges have come in from across the nation, Mosaic relates, including from Atlanta, Boston, Charlotte, Maui, Pittsburgh, Santa Fe, New Mexico, and Woodbury, Minnesota.

With budgets tight and concerns about jobs, energy costs and its environmental impacts figuring prominently in the public media, 2013 was another record-setting year for solar energy in the U.S. As Mosaic highlights,

“In 2013, a solar installation was installed every four minutes throughout the US and the price of a solar dropped to 60 percent of 2011 prices, according to the US Solar Energy Industries Association and Greentech Media Research. The nation installed more clean energy than coal, oil, and nuclear combined, according to the Federal Energy Regulatory Commission. According to the Solar Foundation and U.S. Bureau of Labor Statistics, the solar industry is creating jobs at four times the rate of the economy at large.”

“This year, President Obama put solar panels on the White House, Mayor Bloomberg committed to putting solar on New York City’s largest landfill, and Walmart reached a solar generating capacity greater than the solar generating capacity of 38 states. On the investment side, Warren Buffet invested over $7B in solar.”

Mosaic president and “Movement” team leader Billy Parish explained that the company’s vision is “to build a powerful and purpose-driven membership community dedicated to accelerating humanity to the inevitable transition to 100% clean energy.

“In the past year, thousands of people have invested in solar through Mosaic. We’re now crowdsourcing other aspects of the solar development process. We’re building a movement to power the world with 100 percent clean energy and this movement is people powered.”

Mosaic intends to follow “Put Solar On It” with a series of announcements throughout 2014 regarding its efforts to develop and provide tools to help spur solar energy adoption and use in the U.S. and around the world. The first of these is to be an announcement of Mosaic expanding internationally to take place on January 8 at the Consumer Electronics Show (CES) in Las Vegas.

The post Gifts That Keep On Giving: Pledges to Mosaic’s “Put Solar On It” appeared first on Global Warming is Real.

January 12 2012

18:46

Climate Change a Growing Factor in Pension Funds’ Strategic Asset Management Allocation


Climate change is becoming a key, high-level factor in the strategic asset allocation and risk management decisions of a growing number of the world’s institutional investment organizations, a group that includes the world’s largest pension funds.

More than half of 14 “asset owner partners” participating in the Mercer Group’s “Climate Change Scenarios – Implications for Strategic Asset Allocation” now include climate change considerations in future risk management and/or strategic asset allocation decisions- including Calpers (California Public Employees Retirement System), the largest pension fund in the US.

Moving into a third year, Mercer is leading a global collaborative effort to develop a strategic risk management and asset allocation framework that institutional investors can use to evaluate the risks and opportunities global climate change presents for their portfolios, retirees and investors.

“Collectively, large pension and sovereign funds (and other asset owners) have the power (and perhaps the resources) to determine objectives, fund vehicles and structure deals. Potentially, they may also have the capacity to create new entities to effectively deploy assets as necessary to fund (and profit from) a transition to a lower carbon economy,” write the authors of a project update report released January 12.

Assessing Climate Change Impact on Investments: Mercer’s TIP Framework

Mercer has developed the three-point TIP framework to represent and assess the impacts of climate change on asset class returns.

  • ‘T’ for Technology: Investments in carbon efficient technologies could accumulate to $3 trillion – $5 trillion by 2030
  • ‘I’ for Impacts: Costs of physical damage could accumulate to $4 trillion by 2030
  • ‘P’ is for Policy: Costs of delayed, uncoordinated policy could accumulate to $8 trillion by 2030.

In addition to the three TIP factors, fundamental economic factors (economic cycle inflation) and market factors (ERP, for Energy Resource Price, Volatility) are key elements of Mercer’s climate change asset allocation and risk management framework.

Climate Change Scenarios for Asset Allocation, Risk Management

In its latest project report update, Mercer analysts developed four climate change scenarios as a means “of understanding how asset classes may respond to the TIP factors under different conditions.” The four scenarios – Regional Divergence, Delayed Action, Stern Action and Climate Breakdown – were developed to indicate how climate change “might have an impact on a portfolio’s asset mix from now until 2030.”

Using the TIP model and four scenarios to look a little more closely at each of these three key factors, Mercer finds that the value of additional investments in technology assets (T) will grow between $180 billion to $260 billion per year for all climate mitigation scenarios.

Regarding the impacts of climate change on investment portfolios (I), the costs range in the order of $70 billion to $80 billion per year in terms of adaptation and residual damage costs. In terms of climate policy (P), the increase in the cost of emissions from 2010-2030 ranges between $130 billion and $400 billion per annum, with costs highest under the model’s “Delayed Action” scenario.

As Mercer has clearly recognized, mitigating and adapting to the risks associated with worldwide
climate change requires comprehensive action on a global scale. The active engagement of private sector investment and investors is critical. Among the largest investment organizations in the world, the participation of pension funds and other institutional investors is likewise critical to making the transition to a more sustainable and clean energy economy.

The resources and research challenges required to realize the project’s objectives are enormous and virtually unprecedented. It’s going to require consistent, coordinated, broad-based collaborative working relationships between supra-national and national government agencies, investor and industry participants and associations, and other stakeholders in order to carry out. The Mercer Group’s groundbreaking Climate Program makes for an excellent, if belated, start.

“It will be no small task to accomplish this across regions, market segments and asset classes, but the stage has been set through membership organizations and established intermediaries to explore alternative investment structures, outsourcing opportunities and agreements on requirements. Focus should be put on developing these solutions and the associated deployment of assets – as a priority,” the authors of latest project update report wrote.

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