Mike Thinks: Environmental Entrepreneurs Weigh In On Repealing The Clean Power Plan

Recently, there have been hearings in Virginia on the Environmental Protection Agency's efforts to repeal the Obama era Clean Power Plan. Here is an excerpt from 'Politico Energy' on the notice of the hearings received yesterday morning:

Back for more: Meanwhile, EPA gathers in Charleston, W.Va., for its second day of public testimony on its proposed repeal of the Clean Power Plan. Pruitt did not attend Tuesday's opening of the agency's only public hearing on the subject and hasn't announced plans to show up today. The agency didn't respond to requests for comment.

If Tuesday was any indication, don't expect a ton of new developments. A preliminary list of witnesses for Day Two is available here. Nearly 550 members of Environmental Entrepreneurs urged Trump and Pruitt not to move forward with their planned withdrawal in a letter. And Climate Hawks Vote released an analysis Tuesday finding a much more muted reaction from both parties to the proposed repeal than its original proposal or Trump's withdrawal from the Paris climate accord.

After reading the update, I was interested to see the "letter" entered into the hearings by the Environmental Entrepreneurs. Here is the letter from the "E2" or "Environmental Entrepreneurs" to the committee holding the hearings in West Virginia:

December 1, 2017

Dear President Trump and Administrator Pruitt,

As business leaders and investors who work or do business in almost every state, we write to outline how your decision to unwind the Clean Power Plan (CPP) will hurt our economy. Should this administration continue with a misguided plan to do so, we demand you implement policies that meet the goals of the CPP, as soon as possible.

E2 (Environmental Entrepreneurs) is a national, nonpartisan group of business leaders, investors, and professionals from every sector of the economy who advocate for smart policies that are good for the economy and good for the environment. Our members have founded or funded more than 2,500 companies, created more than 600,000 jobs, and manage more than $100 billion in venture and private equity capital.

In addition to its primary goal of reducing U.S. carbon emissions from the electricity sector, the CPP would also serve as a critical catalyst for growth in American jobs. There are now 3 million clean energy jobs in the United States. According to E2’s analysis, the plan could create another 560,000 jobs and add $52 billion to the U.S. GDP in 2030. From states with relatively small populations like Maine and Montana to highly populated states like Florida, the CPP could have substantial employment and economic benefits.

Under the Clean Air Act and Supreme Court precedent, it is the Trump administration’s legal responsibility to put into place a policy that protects public well-being by significantly reducing carbon emissions. This will have the added benefit of giving some regulatory certainty to an electricity sector already transitioning to a carbon free world. According to a new report, renewable energy grew to 14 percent of total U.S. electricity sales in 2016, with wind and solar alone amounting to 8 percent. More than 14 GW of solar capacity was added in 2016 — almost double the capacity added a year earlier. And for the first time in U.S. history, wind and solar energy made up more than 10 percent of all monthly electricity generation.

Any CPP replacement must embrace the economics of this revolution by setting ambitious but attainable goals for utilities and states to reduce carbon emissions through energy efficiency and renewable energy.

We vehemently oppose unwinding the Clean Power Plan. If you choose to do so despite the opposition of thousands of businesses like those we represent, you must replace it with policy that reduces carbon emissions to the same or greater extent, supports continued growth in the clean energy industry and protects our environment and our future.

Sincerely,

541 E2 Members

Remember that in an earlier post on the site, I wrote about the fact that the possible investment in renewable energy is substantial looking into the future. In that post, I included a letter stating the obvious which is in line with the contents of the letter above. The total numbers of investors which chose to sign on were around 409 investors representing $24 trillion in assets -- WOW! Read the letter for yourself. Couple those 409 investors to the 541 members of the E2 cooperative and that is nearly a thousand business oriented entities looking toward the future with renewable (sustainable) energy along with other sustainable avenues in mind.

In conclusion, I would like to drive home the obvious reality that the world is headed toward a more sustainable environment. Through investments which lead to more renewable (and sustainable) energy sources, the planet is headed toward a better place. Or one might say that the process of repairing damage done is happening through the realization that the inhabitants (citizens) of planet Earth are interested in a sustainable future. Realizing that the investment capital is present and already being directed toward renewable energy projects is a great step forward. Each of us should be excited about the future of technology and the incorporation of renewable energy projects as a consequence of the improvement in technology. The future is exciting contrary to what those citizens who are looking in the 'rear view mirror' might tell you. Stay tuned for more updates!

Related articles:

1) Sunday, November 26, 2017:

Trump Administration's Enthusiasm For Coal Energy At Bonn (Germany) Is Met With Disappointment

2) Friday - May 19, 2017:

Paris Climate Agreement Is A Start Toward The Renewable Energy Future

3) Tuesday - May 30, 2017:

World Goes Left, While Trump Leads Right - On Climate - Why?

4) Wednesday - June 14, 2017:

Trump Goes Right On Paris Agreement, Part Of U.S. And World Head Left

5) Tuesday - July 4, 2017:

President Trump's Understanding of the Paris Agreement

6) Friday - July 7, 2017:

What Is Going To Be Discussed At The G-20 Summit in Hamburg, Germany?