100% Renewable

Gas Companies Face Californian Wipe-out, Say S&P, Moody’s

Read time: 3 mins
Surfers wiping out

By , Climate Home News. This article originally appeared on Climate Home News.

Gas companies in California face credit downgrades, ratings agencies say, after the state pledged to get all of its power from renewable sources by 2045.

On September 10, California governor Jerry Brown signed a bill which would require 100 percent of the state electricity’s to come from carbon-free sources.

That would have no immediate effect on most gas generators, according to a report by Standard & Poor’s (S&P) analyst Michael Ferguson this month. However, he said: “We believe that over the long term, with the growth of renewable energy, these utilities face a significant threat to their market position, finances, and credit stability.”

Proponents of Renewable Energy Will Own the 21st Century, Say Leaders at World Congress

Read time: 5 mins

Vancouver city council’s unanimous decision to commit to running on 100 per cent renewable energy is the kind of political leadership the world desperately needs says Jørgen Randers, professor of climate strategy at the Norwegian Business School in Oslo, Norway.

Despite the looming catastrophe of climate change the market will choose to do nothing,” Randers said in the keynote speech at the ICLEI World Congress 2015, the triennial sustainability summit of local governments in Seoul, South Korea.

Nor will voluntary actions on climate be enough. Strong legislation, intelligent policy and collective action are the only ways to keep humanity from a nightmare future, said the former business executive who still sits on boards of major corporations.

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