Investing in Green Economic Growth

A report by the UN Environment Program (UNEP), indicates that a relatively small investment by governments can go a long way towards helping the green economy to grow. According to Pavan Sukhdev, head of UNEP's Green Economy Initiative:

"Governments have a central role in changing laws and policies, and in investing public money in public wealth to make the transition possible. By doing so, they can also unleash the trillions of dollars of private capital in favor of a green economy."

An investment of 2 percent of the global gross demestic product ($1.3 trillion), could generate momentum toward a low-carbon world. Investing in the greening of sectors such as construction, energy and fishing could jump start the new green economy.

"Investing 2 per cent of global GDP into 10 key sectors can kick-start a transition toward a low-carbon world," the Nairobi-based agency said in a statement.

Such investments would not slow the economy. The report indicates that this investment would grow the global economy at the same rate, or higher, then present economic policies. Greener policies would still grow economies while reducing the ecological footprint by nearly 50 percent in the next 40 years. Despite some job losses, investment in more sustainable jobs would offset losses.

"The sum, currently amounting to an average of around $1.3 trillion a year and backed by forward-looking national and international policies, would grow the global economy at around the same rate if not higher than those forecast, under current economic models."

The report said that ten sectors (agriculture, buildings, energy supply, fisheries, forestry, industry, tourism, transport, waste management and water) could all benefit the environment if they were more green.

Left to purely market forces this transition would occur over time, however, the urgency of climate change demands immediate attention and these types of investments are the most productive way to spur the growth of the green economy.

© 2011, Richard Matthews. All rights reserved.

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Economic Development is the Only Way Forward

Some of the most passionate supporters of the environment argue that we cannot make the necessary changes within the current consumer oriented capitalist system. They point to the fact that growth in the 20th century was all about resource depletion.

Economic growth is not an end, but rather a means to an end. Because economic growth is premised on the concept of increasing quantity, it may be more productive to frame the issue in terms of economic development. Economic development looks at growth as a means of achieving a higher level of individual and societal well-being. While economic growth is about quantity, economic development is about quality. A well developed economy is one that meets people's needs and provides well-being for everyone.

Economic development is based on the collective good which is ultimately about creating more value per person.

UNEP's Executive Director Achim Steiner said in the statement: "With 2.5 billion people living on less than two dollars a day and with more than two billion people being added to the global population by 2050, it is clear that we must continue to develop and grow our economies. But this development cannot come at the expense of the very life support systems on land, in the oceans or in our atmosphere."

Growth and resource depletion are not inexorably linked and given the urgency, the green economy is the only solution we have of capable of addressing the environmental and social threats we face.

We simply do not have time to rebuild society anew, nor is it reasonable to wipe the slate clean. In the form of economic development, growth can serve the earth and its inhabitants. However future growth will not be based on wanton resource depletion, it will be about increased efficiency and productivity.

© 2011, Richard Matthews. All rights reserved.

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The Cycle of Climate Change Acceptance

Like all major socio-economic revolutions the acceptance of climate change takes time. Although reluctance to fully engage the battle against climate change may seem painfully slow, it is consistent with the theoretical stages in what is known as the cycle of acceptance.

The popular attitude towards climate change, must go through various stages before the bitter truth can be inculcated into the public psyche.

Organizations and individuals who are confronted with facts about global warming have been thrown into a cycle of acceptance. The stages in the process of acceptance are part of a well known process first introduced by Elisabeth Kübler-Ross in her 1969 book, On Death and Dying. The Kübler-Ross Model is commonly known as The Five Stages of Grief, it is also referred to as the Cycle of Acceptance. In essence it involves 5 steps:

1. Denial
2. Anger
3. Depression
4. Bargaining
5. Acceptance

Denial, although a waste of valuable time, is the first step on the road to acceptance. Over the last couple of years we have seen a lot of denial and anger surrounding the issue of climate change, but there are indications that we may be moving towards acceptance.

People are at different stages when it comes to climate change. While some are still stuck in the denial phase, there are others who feel hopeless and depressed due to the slow acceptance of climate change in North America. While many polls indicate that American support for climate change declined in 2009 and 2010 there may be a positive trend beginning to develop in 2011.

Popular support for the issue of combating global warming has languished over the last couple of years, however, according to a May 2011 Yale Survey titled Public Support for Climate and Energy Policies, an increasing number of Americans now believe that tackling climate change should be a national priority.

We are currently experiencing an upswing in a cycle that will entrench environmental issues into the popular psyche.

The Pembina Institute provides policy research leadership and education on climate change and energy issues. Clare Demerse, acting director for climate change at the Pembina Institute’s Ottawa offices, believes it’s only a matter of time before we are all talking about global warming.

“All issues go through a cycle where they are at top and then fall off and that’s where we are now. It will be back up there again.”

However, the amount of time it takes a person or an organization to complete the cycle of acceptance is critical. The longer they take to come to the stage of acceptance, the less likely they are to ever fully complete the cycle, and the less likely they are to make the difficult decisions to deal with the problem wisely.

© 2011, Richard Matthews. All rights reserved.

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Belief in Global Warming is Tied to the Economy

It would appear Americans are victims of the false choice between the economy and the environment. As the economy was ravaged by the recession, polls indicate that American support for climate change declined.

Over the last couple of years, when Gallup asks Americans about top problems facing the county, the economy is always at or near the top of the list, while environment is rarely among the top five concerns.

According to a May 2011 Yale Survey titled Public Support for Climate and Energy Policies.When compared to 2008, public support for efforts to combat climate change waned in 2009 and 2010.

This finding confirmed an April 2011 study from Brookings which compared American and Canadian views on climate change. The study found that American belief in climate change declined in lock step with the shrinking economy between 2008 and 2010.

During the same period, Canadians support for efforts to combat climate change did not erode as much as Americans. The fact that the recession did not hit Canada as hard as it hit America is consistent with the hypothesis that economic difficulties trump environmental concerns.

Predictably, Republicans are much more likely then either Democrats or Independents, to choose the economy over the environment.

Thanks in part to Republican misinformation, popular support for the issue of combating global warming has languished over the last couple of years. However, as we emerge from recession the Yale Survey indicates that a small but increasing number of Americans now believe that tackling climate change should be a national priority.

© 2011, Richard Matthews. All rights reserved.

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The False Choice Between the Economy and the Environment

In debates on the issue of climate change we are often asked to make a false choice between the environment and the economy. However, an intelligent discussion of climate change cannot be framed as a choice between the environment and the economy.

The rise of sustainable business is making it abundantly clear that we can have it both ways. Businesses are adopting new models that both contribute to the economy while minimizing their environmental footprints.

According to a May 2011 Yale Survey, 56% of Americans now believe that protecting the environment improves economic growth and provides new jobs.

Previous polemics argued that you can either have the economy or the environment. Contemporary wisdom reveals that you can have both.

© 2011, Richard Matthews. All rights reserved.

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TerraCycle Reach a Major Milestone in Non-Recyclable Waste Diversion

TerraCycle is a winning combination of environmentalism and free enterprise. The company has succeeded in diverting one million non-recyclable packages from landfills. TerraCycle is a company with a mission to "Eliminate the Idea of Waste®" by creating sustainable collection systems and end of life solutions for non-recyclable packaging and products.

TerraCycle created a free nationwide collection program in Canada that enabless consumers to raise money for their schools and communities by collecting material like drink pouches, cookie wrappers, yogurt pots, sandwich bags and candy wrappers. For every piece of waste collected, they donate 2 cents to a school or charity of choice.

TerraCycle was founded in the US by Toronto native Tom Szaky. After winning countless business plan contests, Tom dropped out of Princeton to pursue his dream of founding the world’s most environmentally friendly company. Seven years later, TerraCycle’s eco-friendly products have received a myriad of social and environmental accolades and are sold at major retailers like The Home Depot, Wal*Mart and Whole Foods Markets.

TerraCycle’s business plan and products made from waste received a Zerofootprint Seal of Approval, won The Home Depot’s Environmental Stewardship Award twice and recently won the 2007 Social Venture Network Innovation Award. Kool Aid has also offered their support for TerraCycle’s Drink Pouch Brigades and encourages recycling and upcycling of drink pouches.

As indicated in a recent company press release, the Canadian recycling brigade has reached a major milestone. On June 3rd 2011, the company reported that they had succeeded in diverting one million drink pouches. The ubiquitous drink pouches cannot be recycled through traditional programs. In the process of collecting these waste materials, TerraCycle has contributed over $20,000 to schools and non-profits.

Over 2,700 schools, non-profits and community groups have joined together across Canada to help collect the one million pieces of waste. Students, teachers and community members from communities across Canada are working together to help TerraCycle give new life to waste.

“It gives the students a chance to participate and see results for their actions. We can collect waste and get paid for it,” says Sandra Ross, parent volunteer at William S. Patterson P.S. in Clandeboye, Manitoba.

The collected material will be repurposed into a variety of environmentally responsible products ranging from pencil cases and tote bags to storage containers and park benches. Thier eco-friendly consumer products should be in stores within the next 6 to 12 months.

To mark the milestone of one million pouches collected, TerraCycle held an assembly and unveiled a special recycled prize at Dixon Grove Public School, in Toronto. The school is one of the country’s top collectors and a shining example of environmental commitment.

Their non-recylcable waste program not only diverts packaging from landfills, it engages students and adults in a fun, hands-on activity to encourage them to be more concerned about resource conservation and recycling.

TerraCycle has an innovative business model that should cause entrepreneurs and established businesses to stand up and take notice.

For more information go to the TerraCycle site.

© 2011, Richard Matthews. All rights reserved.

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Canadian Global Warming Denial from the Frontier Centre for Public Policy

Like Americans, Canadians are influenced by climate denial groups posing as think tanks. Peter Holle is the founding president of one such climate-denying think tank known as the Frontier Centre for Public Policy. This Winnipeg-based group is behind a series of ridiculous assertions related to energy and climate change.

Americans have powerful misinformation networks like the Heritage Foundation and the Mercantus Center. Canadians have the Frontier Centre for Public Policy which describes itself as an independent public policy think tank whose mission is "to broaden the debate on our future through public policy research and education and to explore positive changes within our public institutions that support economic growth and opportunity."

This so called "think tank" is really a made in Canada propaganda machine that takes a strongly cynical stance on the science supporting global warming.

One of Holle's paradoxical beliefs include the notion that first-hand extreme weather experiences make Canadians skeptical about global warming. Another one of Holle's bizarre beliefs is that “carbon dioxide is not the pollutant source of global warming.”

Holle discredits the wealth of scientific research supporting the anthropogenic origins of climate change. He ignores mainstream science that contradicts his views and recruits scientists who argue that cooling and warming cycles are part of the earth’s normal pattern.

Sadly, a minority of Canadians continue to fall for the well used lie that human activity is not behind global warming.

© 2011, Richard Matthews. All rights reserved.

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Canadians Support Efforts to Combat Climate Change

Unlike their Conservative federal leadership, Canadians support efforts on climate change. According to a joint study released in April 2011, Canadians are more likely to believe in the veracity of climate change then Americans.

The study also found Canadians are more willing than their friends to the south to pay for energy from renewable sources. A majority of Canadians said they would support a carbon tax or cap-and-trade scheme, even if it came with a cost of $50 per month in energy expenses.

A report from the Conference Board of Canada indicated that the federal, provincial and municipal levels of government spend a lot money trying to understand the implications of climate change. However, they are inefficient and there is a striking lack of coordination.

The report suggests that Canadians need a carbon pricing scheme like those in place in BC and Quebec.

© 2011, Richard Matthews. All rights reserved.

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Canadian Conservative Government Rejects Kyoto

Canada's newly reelected Conservative government has confirmed that it will not support an extension of the Kyoto Protocol on greenhouse gas emissions after 2012. Conservative Prime Minister Stephen Harper had already announced his government would not meet the binding emissions cuts it committed to under the first round of Kyoto.

The Kyoto Protocol has been ratified by 192 of the UNFCCC Parties. Under the Protocol, 37 industrialized countries have legally binding emission limitation and reduction commitments. The Kyoto Protocol contains key rules to quantify and monitor efforts to reduce greenhouse gas emissions and important market-based mechanisms that enable cost-effective mitigation.

Harper has opted to renege on Kyoto even though the International Energy Agency found that found fossil fuel emissions hit record highs last year, topping 30 gigatons, (about 5 percent more than the previous record set in 2008).

Ottawa, joined the US, Russia and Japan in rejecting an extension of the international agreement at the UN preparatory climate change conference in Bonn, Germany.

Buoyed by their recent election victory, Conservatives can be expected to exploit the tar sands and do as little as possible on the environmental front.

© 2011, Richard Matthews. All rights reserved.

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Post COP15

Progress at the Bonn Climate Talks and Hopes for COP17

Climate talks wrapped up in Bonn on Friday June 17 ahead of the seventeenth Conference of the Parties (COP17) which will take place later this year in Durban, South Africa.

Before the climate talks in Bonn, Christiana Figueres, executive secretary for the United Nations Framework Convention on Climate Change (UNFCCC) encouraged countries to come together: "No nation will solve climate change alone. And no nation is alone in feeling its impacts. We're only a few days away now from the mid-year climate negotiations and governments need to pick up speed."

After the Bonn talks, Figueres indicated that she is optimisitic that countries will make progress on a wide range of issues at COP17. These issues include the Kyoto Protocol, global mitigation framework, the Adaptation Committee, the Green Climate Fund, funding, and the Technology Mechanism.

She reiterated the importance of the link between negotiations on mitigation under the UN Climate Change Convention and mitigation under the Kyoto Protocol. As explained by Figueres, the Kyoto Protocol contains key rules to quantify and monitor efforts to reduce greenhouse gas emissions and important market-based mechanisms that enable cost-effective mitigation. The Kyoto Protocol has been ratified by 192 of the UNFCCC Parties. Under the Protocol, 37 industrialized countries have legally binding emission limitation and reduction commitments.

Figueres pointed to progress on the Adaptation Committee and the Technology Mechanism that will boost global clean technology cooperation. “Strong convergence has emerged on how the Adaptation Committee will be governed, what its composition will be and what its specific role will be,” Figueres said. “This progress means that the Committee could be fully operationalized at Durban."

The Bonn talks also made progress on the Technology Mechanism which will include a Climate Technology Centre and Network which will operate with the strong involvement of the global clean technology stakeholder community. Participants also discussed the effects of implementing mitigation measures including economic transition and diversification, along with health and trade-related issues.

Figueres said the Bonn session included discussions on the design of the Green Climate Fund, as well as identification of sources for long-term funding. Another meeting related to the Green Climate Fund will take place in Tokyo in July.

Other meetings are also planned to help pave the way for progress at COP17. A ministerial conference is planned for 2 to 3 July in Berlin. The leaderships of South African and Mexico are planning to meet with Heads of State and Governments at the UN General Assembly in New York in September and ministers are scheduled to meet approximately one month ahead of the UN Climate Change Conference in South Africa.

© 2011, Richard Matthews. All rights reserved.

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Hope in the Face of the Fastest Ever Rise in Greenhouse Gas Emissions

Despite 20 years of climate negotiations global warming causing greenhouse gases (GHGs) from energy are now rising at record setting levels. As reported in the Guardian, UN climate chief, Christiana Figueres, indicated that we are experiencing the fastest-ever rise in greenhouse gas emissions, but she added that the data should not lead people to believe that the problem is impossible to tackle.

"This is the inconvenient truth of where human-generated greenhouse gas emissions are projected to go without much stronger international action now and into the future." But Figueres added, "I won't hear that this is impossible. Governments must make it possible for society, business and science to get this job done."

Estimates from the International Energy Agency, reveal that despite government policies aimed at curbing greenhouse gases the 2010, global emissions from energy were 30.6 gigatonnes of carbon dioxide, compared with 29Gt in 2009 and 29.3Gt in 2008.

Three quarters of the emissions rise came from developing countries, with a quarter from the developed world. Although most of the record rise in emissions came from rapidly emerging economies, including China, there is growing evidence that the west has "exported" billions of tonnes of its emissions by relying on imports from the developing world.

The developing world is simply using the developed world for more of its energy intensive manufacturing. This is the finding in research being conducted by Sir David King, director of the Smith School of Enterprise at the University of Oxford and former chief scientific advisor to the UK government. Similar results were also revealed in studies from the Carbon Trust and others.

Fatih Birol, chief economist at the IEA and one of the world's foremost experts on energy and climate, said: "Unless bold and decisive decisions are made very soon, it will be extremely challenging to achieve the global goal agreed [at the last UN climate change conference in December] in Cancún."

Connie Hedegaard, the European Union's climate chief, said: "One wonders how many more worrying figures the world needs. The promises of world leaders at Copenhagen and Cancún to stay below 2C of warming need urgently to be followed by more action."

Hedegaard said the EU had put in place strong policies that had reduced emissions, and said other countries should follow. In 2008-10, emissions from EU heavy industry fell by more than 8%, in part owing to the recession and in part to climate policies. Hedegaard said: "We in Europe have specific policies, binding targets and a price on carbon. Europe has committed to an ambitious agenda of climate action. We look to our partners to do likewise.''

Hedegaard insisted there were reasons to be optimistic, "Countries, including the biggest economies, are moving forward with new policies that promote low-carbon prosperous growth, even if they don't always attach climate labels to these policies. And the private sector continues to increase its investment in low-carbon business and renewable energy and wants to do more."

© 2011, Richard Matthews. All rights reserved.

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Video: Bonn Climate Change Conference June 2011

UNFCCC Executive Secretary Christiana Figueres provides some of the highlights from the June 2011 Climate Talks in Bonn, Germany. This video was recorded on the final day of the UN Climate Change Conference. Figueres indicates that it is important to resolve the future of the Kyoto Protocol which is fundamental and critical for at least two reasons 1) It contains the key rules to quantify monitor the mitigation efforts of countries. 2) It also contains important market based mechanisms that allows those countries to reach their mitigation levels in a cost effective manner.

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SolarDay 2011

SolarDay takes place on Saturday June 18 in Canada, the US and the UK (November 19 in Australia). This is the third annual SolarDay event, it celebrates solar energy and its capacity to help protect the planet from global warming. SolarDay includes events by cities, non-profits, companies and the solar industry.

SolarDay 2010 events were held in 26 US cities and included municipal proclamations declaring an Official SolarDay. One 2011 SolarDay event in New Orleans involved multiple non-profit organizations working in concert with the city.

Members of the U.S. Congress Supporting SolarDay 2011 include California Senator Dianne Feinstein. Congresswoman Doris Matsui is also supporting SolarDay with letters on the SolarDay website to encourage public participation and awareness of how solar energy can reduce monthly energy bills - while provided much-need "green" jobs for the US economy.

Event organizers see solar as the next step in the "Greening of America" movement that includes driving a hybrid car, shopping for organic and sustainably-farmed foods, doing business with green companies, recycling, saving energy and avoiding, as much as possible the burning of finite and polluting fossil fuels that play a significant role in the production of greenhouse gases and global warming.

Costly fossil fuels are a finite resource that threaten the planet and all its inhabitants. By some estimates, we have 50 years of oil reserves, 200 years of coal reserves and at least 5 billion years of solar energy. It is clear that our energy future is dependent upon the renewable energy we can harvest from the sun.

For more information, or to find local events in your area, visit the SolarDay site.

© 2011, Richard Matthews. All rights reserved.

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Electric Vehicles Create Jobs

Electric vehicles (EVs) are reducing emissions and creating sustainable jobs. EV technology is steadily improving and consumer interest is growing. While EVs create jobs, combustion engine vehicles contribute to global warming and America's dependence on foreign oil.

The Chevrolet Volt is an example of a hybrid electric car that is providing new jobs. In the past year, GM has invested nearly $1 billion in electric vehicles. The car maker is also investing $270 million on an electric motor plant near Baltimore, Md. The project will create more than 200 blue-collar and managerial positions, along with hundreds more assembly line jobs when the plant starts production.

Mike Robinson, GM's vice president for environment, energy and safety policy, expects the new plant will be a job engine for many years to come.

"This is the wave of the future. And we expect that plant is going to produce 40,000 or so electric motors for us by 2013," Robinson says. "And we do think this is a long-term bet that makes sense, and we expect market volumes will support that kind production."

Other car makers are also involved in the EV market including Nissan, Toyota, Mitsubishi and Honda. Industry analysts predict there could be as many as 1.5 million electric cars on US roads by 2015.

While the price of electricity is relatively stable, gas prices are volatile. Auto industry analyst George Magliano, of IHS Global Insight thinks that green technology will boost economic growth and create tens of thousands of new jobs.

EVs create American jobs which is why President Obama has pledged that America will have one million electric vehicles on the road by 2015.

© 2011, Richard Matthews. All rights reserved.

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Study Finds EVs Better than a Renewable Energy Standard

According to research conducted by Rice University’s Baker Institute for Public Policy, EVs are better than a national renewable energy standard at reducing emissions and cutting oil imports. The study shows that replacing fossil fuel powered cars with EVs in the US would have a better result than imposing renewable energy quotas.

The study says: “The single most effective way to reduce US oil demand and foreign imports would be an aggressive campaign to launch electric vehicles into the automotive fleet.”

The US Carbon Management Policy study concludes that if 30 percent of all vehicles were electric by 2050, that would cut US oil use by 2.5 million barrels a day and cut emissions by 7 percent. A national mandate for renewable energy would cut emissions by only half that amount (4%) over the same period.

This Research also found that a carbon tax would actually end up being more costly in the long run and would not impact oil imports in any significant way.

Government support for EVs is important and so is renewable energy to power those cars. However, renewable energy is not a panacea in the short term. As we transition to green energy, renewables can operate alongside cleaner fossil fuels like natural gas. We can also achieve reduced energy demand through greater reliance on public transportation and more efficient building practices including retrofits.

© 2011, Richard Matthews. All rights reserved.

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A New Survey Shows that Americans Now Want to Address Climate Change

According to a new Yale survey, the vast majority of Americans now believe addressing global warming should be a top priority for Congress and the Obama administration. The survey indicated that 71 percent of Americans now think that tackling climate change should be high on the agenda. This is an improvement over the last couple of years when it was not considered a high priority.

Support for clean energy is almost unanimous with 91 percent of Americans saying that "developing sources of clean energy should be a very high (32%), high (35%), or medium (24%) priority for the president and Congress, including 97 percent of Democrats, 89 percent of Independents, and 85 percent of Republicans."

Americans want their government to invest in the effort to curb global warming. Despite ongoing concerns about the economy, 67 percent of Americans say the US should undertake a large (29%) or medium-scale effort (38%) to reduce global warming, even if it has large or moderate economic costs. These results could be interpreted as support for ending oil subsidies.

The business community should also take note as 65 percent of Americans want more action to address global warming from corporations. Their is a growing awareness of the relationship between the environment the economy and jobs. 82 percent of Americans (including 94% of Democrats, 74% of Independents, and 76% of Republicans) say that protecting the environment either improves economic growth and provides new jobs (56%), or has no effect (26%). Only 18 percent say environmental protection reduces economic growth and costs jobs.

Americans indicate the want more renewable energy even if it costs more. The study indicates that 68 percent of Americans support requiring electric utilities to produce at least 20 percent of their electricity from renewable energy sources, even if it costs the average household an extra $100 a year, including 82 percent of Democrats, 64 percent of Independents, and 58 percent of Republicans.

The study shows that Americans support more research funding as indicated by the fact that 84 percent of Americans support funding more research into renewable energy sources, including 90 percent of Democrats, 81 percent of Independents, and 81 percent of Republicans.

More than half of Americans want to see more action from Congress to address global warming. This should cause Republican lawmakers who frown on support for renewable energy to take note as their ongoing obstructionism could prove politically fatal.

With the exception of the finding that 68 percent of Americans want more gas and oil drilling, this is a very positive report for the environment. This survey breathes new hope into the possibility of passing US energy and climate change legislation if President Obama succeeds in winning a second term.

© 2011, Richard Matthews. All rights reserved.

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Global Wind Day 2011

Global Wind Day is an event designed to raise worldwide awareness of wind energy. The day is celebrated each year on June 15, with thousands of public events in the US and countries around the world. It is a day for discovering wind, its power and the possibilities it holds to change our world. It is also a day for discovery of the work that has already begun by pioneers around the world.

In more than 75 countries around the world, wind farms are in operation, generating energy from a clean and renewable source. Global Wind Day is the day when you can visit wind farms, meet experts, attend events and find out everything you want to know about wind energy.

The European Wind Energy Association - EWEA - and the Global Wind Energy Council - GWEC - coordinate the Global Wind Day through a network of partners. The day started as a European one in 2007 and went Global in 2009.

Wind power is one of the leading energy solutions to climate change. Wind power is also a smart investment that pays off today and in the future. Wind energy provides good jobs with long-term potential. It's also a way to increase our energy independence from foreign countries and reduce our personal and collective carbon footprint.

Last year more than 220 events were organised in 30 countries all around the globe (see the 2010 report). For more information go to Global Wind Day.

© 2011, Richard Matthews. All rights reserved.

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Electric Vehicles Increasingly Competitive

The adoption rate of electric vehicles (EVs) is a corollary of market forces. EVs must be able to compete with traditional vehicles. EVs may have a higher sticker price then traditional vehicles but they compensate with lower operating costs.

Electric cars do not need gas and they do not require maintenance like air filters and oil changes. Driving 120 miles in a gas engine car costs at least $13.50. The electricity needed to power an electric car 120 miles costs $2.20.

Mass production will bring down up front costs and as oil becomes more expensive, battery technologies like lithium-ion will be more competitive.

© 2011, Richard Matthews. All rights reserved.

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GM CEO Calls for Gas Tax Rather than a Fuel Efficiency Mandate

In a June 2011 interview in Detroit News, General Motors CEO Dan Akerson said his company and his industry would be helped, not hurt, if consumers paid higher gas taxes. He suggested that a $1 a gallon increase in the gas tax is a way to encourage buyers to purchase more fuel efficient cars.

The current federal gas tax is only 18.4 cents a gallon, but Akerson said that he would not be opposed to an immediate 50-cent-a-gallon increase to take advantage of recent declines in gas prices. Although he concedes that this would probably make some of his Republican friends "puke," it would do more to help the environment than a federal government mandate of of 60 MPG.

Paul Ballew, chief economist at insurer Nationwide who was formerly a director of sales analysis at GM, said it's always been clear within the auto industry that given the choice between tougher fuel economy standards and higher gas prices, the latter is a better deal for the automakers.

However, it is very unlikely that Republican lawmakers would support such a move. "They're not going to get it though, because that would take a lot of sanity in Washington and we're not going to see that," Ballew said.

© 2011, Richard Matthews. All rights reserved.

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Americans Want Cars to get 60 MPG

According to a survey released on May 16, 2011, a solid majority of Americans want vehicles that are much more fuel efficient. The Consumer Federation of America (CFA) said its survey of 2,000 Americans found strong support for a government mandate of 60 miles a gallon by 2025. As reported in USA Today, “Cars would cost more, but respondents said they'd be willing to pay more as long as the higher purchase costs could be recouped in gas savings in 5 years.”

“Concern about volatile gasoline prices and support for higher standards is driven by the huge and rising bite gas expenditures are taking from household budgets—from less than $2000 in 2009 to more than $3000 this year,” said Mark Cooper, CFA’s research director and energy expert in a press release. “Pain at the pump, along with the country’s oil import dependence, has produced a growing consensus that the federal government should substantially increase fuel economy standards.”

CFA received the data from a poll by Opinion Research Corp, which shows that “62 percent of Americans support a federal mandate requiring automakers to meet a 60 mpg standard by 2025, a proposal the Obama administration is considering,” reports the Detroit News. “The fuel efficiency mandate already is scheduled to rise to 35 mpg by 2016 from 27.5 mpg for cars today.”

Government mandates will push automakers towards greener more fuel efficient vehicles like hybrids and fully electric cars. All the major automakers are already launching hybrid vehicles and fully electric cars are sure to follow. According to the CFA study, the general public appears to welcome the move. "We're talking about changing the trajectory of consumption," Cooper said. "The consumer is ready."

© 2011, Richard Matthews. All rights reserved.

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Assessing the Environmental Impact of Electric and Hybrid Vehicle Production

Although electric and hybrid cars create more carbon emissions during their production than standard vehicles, they are still greener overall. This is one of the findings in a report prepared by Ricardo1for, in collaboration with the membership of the Low Carbon Vehicle Partnership that includes major vehicle manufacturers and oil companies.

The increased emissions created during the production of electric and hybrid vehicles is further compounded by disposal issues. However, overall electric and hybrid vehicles still have lower carbon footprints than fossil fuel powered vehicles.


“This work dispels the myth that low carbon vehicles simply displace emissions from the exhaust to other sources. However, it does highlight the need to look at reducing carbon emissions from vehicles throughout their lifecycle,” said Greg Archer, LowCVP Managing Director.

A 2008 study by researchers at Carnegie Mellon University found that life-cycle greenhouse gas emissions, which include emissions from both manufacturing and operating a vehicle, are 32 percent less from plug-in hybrids than from gasoline-powered cars.

Approximately three quarters of the carbon created in production is attributable to the steel used in vehicles. In an electric vehicle almost half (43%) of the carbon created in production arises from the battery. To reduce carbon in vehicle production we need low weight, low carbon alternatives for steel and batteries.

Andy Carroll, Managing director for Eurotax Glass’s, said that the industry will see an evolution towards learning how to estimate the residual value impact of improved technologies and batteries as well as end of life disposal.

Although calculating whole life carbon emissions is complex, it is essential for comprehensive vehicle comparisons.

© 2011, Richard Matthews. All rights reserved.

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Assessing the Environmental Impact of Operating Electric and Hybrid Vehicles

The dramatically smaller footprint of electric cars varies depending on the source of electricity used to power them. "The types of power plants installed in the next two decades will not only affect how much we can reduce emissions from electricity, but also from vehicles," said Carnegie Mellon engineer Kyle Meisterling.

Newer fossil fuel powered vehicles are much more efficient than previous generations of automobiles, but they are not as efficient as hybrids or fully electric vehicles.

In places like California where tailpipe standards are some of the toughest in the nation, a 2010 gas powered car puts out only 2 percent of the emissions of a 1980s model. However, electric vehicles have a much smaller carbon footprint than even the most efficient fossil fuel powered vehicles.

We should not underestimate the contributions of electric vehicles to our environment. According to Tom Cahill, a professor emeritus of physics at UC Davis, EVs offer "a whole lot of gain in climate change."

All-electric vehicles burn no fossil fuels, and hybrids burn relatively small amounts of gas. The tailpipe emissions from electric cars are zero and hybrids have a significantly reduced emissions profile compared to conventional vehicles. In places like Los Angeles, on some days, the tailpipe emissions of hybrids contain less pollution than the air.

A 2008 study by researchers at Carnegie Mellon University found that America's electricity mix derives 45 percent of electricity from coal, 23 percent from natural gas, 20 percent from nuclear, and 12 percent from dams, solar, wind and other sources. The emissions associated with electric and hybrid vehicles will improve significantly once we reduce the use of fossil fuel powered energy, particularly coal.

One of the most interesting findings of the Carnegie research finds that even when electricity derived from coal is used to power hybrids they emit fewer greenhouse gases than gasoline-powered cars.

In states with cleaner power mixes, plug-in hybrids have less than half the greenhouse gas footprint of conventional gasoline vehicles.

In a recent study, Mark Jacobsen, a professor of civil and environmental engineering found that electric vehicles powered by wind energy were best, with a 99 percent reduction in carbon and air pollution emissions from the current vehicle fleet. Not suprisingly, ethanol ranked last in his study, with the largest carbon footprint.

"There's no technical reason we can't ramp up to a lot more electric vehicles," Jacobsen said. "It's a question of whether society as a whole is motivated to do it."

Andy Carroll, Managing director for Eurotax Glass’s, said the key to making electric vehicles more popular will be for manufacturers to completely remove the risk of residual value in batteries from falling into the hands of the customer.

© 2011, Richard Matthews. All rights reserved.

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Impact Investing Summit 2011

On Monday June 13, The Impact Investing Summit (iiSummit) aims to mobilize the power of private capital in the Midwest for social and financial return. hosted by the Kellogg School of Management at Northwestern University and the University of Chicago Booth School of Business. The first-ever summit will focus on the ways this growing industry bridges social and environmental impact with investment vehicles that are attractive to mainstream investors.

Impact investing is an emerging asset class that is gaining increased recognition from institutional investors, high net worth individuals, and private foundations. In this nascent industry, there is a range of options around financial returns, type and location of investment, and potential exits. The iiSummit will bring together national experts in this field—including members and advisors to private foundations; State Department and SBA representatives; and institutional, venture capital, and individual investors—to explore impact investment options for the Midwest.

This summit supports current efforts of the U.S. Secretary of State’s Global Partnership Initiative (GPI). In 2010, GPI began the “20ii - Investing for Impact” initiative to leverage the assets of corporations and investors to achieve social and environmental impact in underserved markets and help achieve the U.S. government’s foreign policy objectives.

At the iiSummit, institutional investors, high net worth individuals, private foundations, and USG representatives as well as a broad range of investment practitioners will examine the impact investing sector in a series of lectures and panel sessions. Topics for discussion include successful investment models, social innovation and policy, and social impact trends in the Midwest.

“The Midwest is generating novel for-profit ventures that are creating both social and financial returns but require growth capital,” said Linda Darragh, clinical professor and director of entrepreneurship programs for the Polsky Center for Entrepreneurship at Chicago Booth. “But we can no longer rely on philanthropy alone. Impact investments are the fuel needed to grow this new class of ventures that will better our society and environment.”

“The iiSummit aims to further this discussion by educating the investment community about how to harness private capital in the Midwest and direct these resources for social and financial return,” said Jamie Jones, associate director of the Social Enterprise at Kellogg (SEEK) program at the Kellogg School. “This is an ideal time to bring impact investing and new investment models to the forefront of the business community, especially here in Chicago.”

The events of the day will be capped off by three presentations from Midwest ventures that highlight the opportunity for impact investments.

Speakers:

-Kris Balderston, special representative for global partnerships, U.S. Department of State Global Partnership Initiative
-David Chen, managing partner, Equilibrium Capital Group
-Sasha Dichter, director of business development, Acumen Fund
-Sean Greene, associate administrator for investment and senior adviser for innovation at the U.S. Small Business Administration
-David Kirkpatrick, managing director and co-founder, SJF Ventures
-Wes Selke, investment manager, Good Capital & Hub Ventures
-Thomas Debass, U.S. Department of State Global Partnership Initiative
-Noel Kullavanijaya, Equilibrium Capital
-Tom Balderston, Investors' Circle and Patient Capital Collaborative
-Patrick Fisher, Creation Ventures
-Deborah Quazzo, NeXtAdvisors
-Karen Lehman, Fresh Taste Initiative
-Keith Crandell, ARCH Venture Partners and Clean Energy Trust

For more information click here.

© 2011, Richard Matthews. All rights reserved.