Chicago Commits to 100% Renewable Energy By 2040

EcoWatch | April 11, 2019

Chicago made history on Wednesday by becoming the largest U.S. city to commit to 100 percent renewable energy before the middle of the century. It is, in the summation of Kyra Woods, Chicago organizer with the Sierra Club's Ready for 100 Action Campaign, "a monumental achievement." According to the Sierra Club, the city council unanimously passed a resolution that commits the city to 100 percent renewable energy in buildings by 2035 and electrification of the city's bus fleet by 2040. The nonbinding resolution, backed by the Ready For 100 Chicago Collective, points to the kind of extreme weather including catastrophic flooding the region is already experiencing. "Climate change," it reads, "will bring unprecedented environmental changes including extreme heat, heavy precipitation, and flooding to our region." "Residents of communities experiencing disproportionate cumulative impacts of environmental exposures and population vulnerability, as well as other communities across Chicago, desire a just transition away from all fossil fuels that prioritizes environmental justice, public health, community self-determination, high-quality jobs, and ownership opportunities for local residents," the resolution also states.

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SOLAR+STORAGE

Green Power Developers and Rosemawr Sustainable Infrastructure Management Develop, Construct, and Finance Portfolio of Solar Projects in New Jersey

Green Power Developers | November 17, 2021

Green Power Developers, a New Jersey-based solar energy developer, and Rosemawr Sustainable Infrastructure Management, the sustainable infrastructure investment arm of Rosemawr Management, have begun developing, constructing, and financing a portfolio of commercial & industrial scale solar projects across New Jersey. To date, Green Power and Rosemawr have worked together on six projects that began construction in the past three months, with the expectation of beginning construction on at least an additional three projects before the end of the year. The projects have all been financed using structures that allow the host property owner to retain ownership of each project without requiring any upfront capital. Further, each project provides the host with utility bill savings from clean energy. "New Jersey is our home base and we are excited to continue to deploy solar energy throughout the state. We especially pride ourselves on meeting the individual needs of each customer, and partnering with Rosemawr has helped us achieve that goal for these projects. We look forward to continuing to build the portfolio in the coming months and years." Heshy Katz at Green Power Developers "Green Power Developers has built a unique and robust solar development and installation business model that is predicated on delivering efficient solutions for the end user. We are excited about supporting these projects with flexible financing as we continue to grow our sustainable infrastructure portfolio," said Josh Herlands at Rosemawr. About Green Power Developers Green Power Developers was founded in 2010 to help businesses and property owners benefit from the adoption of solar energy. The Green Power team leverages several decades of experience in renewable power development, providing tailor-made solutions and seamless project execution for its extensive client base. About Rosemawr Rosemawr is an established investment management firm focused on the municipal, not-for-profit, charter school, and sustainable infrastructure sectors. Rosemawr was founded in 2008 and currently has approximately $1.5 billion in assets under management. The firm's sustainable infrastructure portfolio currently includes investments in over 80 solar energy projects located across 13 states, plus numerous investments across property assessed clean energy (PACE), wind energy, and other technologies.

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GRID ENVIRONMENT

CenterPoint Energy issues All-Source RFP targeting renewables, thermal and demand side resources and short-term capacity

CenterPoint Energy | May 11, 2022

CenterPoint Energy, Inc. (NYSE: CNP) has announced that its Indiana-based electric utility business, CenterPoint Energy Indiana South, is opening a new all-source request for proposals (RFP) to seek a combination of resources including renewables (wind, solar and battery storage), thermal and demand-side resources, and short-term capacity to meet the future needs of its 150,000 electric customers in southwestern Indiana. "As we continue our electric generation resource transition, we are looking for additional resources that can contribute to our diversified portfolio to provide safe, reliable and cost-effective electric service to our customers," - Steve Greenley, Senior Vice President, Generation Development. The RFP will assist in identifying additional generation technologies that can provide fully accredited capacity no later than March 1, 2027. Later this year, CenterPoint Energy Indiana South will begin its 2022 Integrated Resource Plan, an analysis conducted every three years used to determine the best mix of generation and demand side resources to meet customers' needs over the next 20 years. Generation technologies being sought include: Renewables, both wind and solar along with battery storage in paired and standalone applications; Thermal, including coal and natural gas-fired generation, hydrogen, nuclear and other resources; Demand side and load-modifying resources, whether standalone or aggregated, capable of providing accredited capacity; and Short-term capacity, especially in years 2023-2025. Eligible transaction structures include power purchase agreements, asset purchases including projects in development, demand side contracts and capacity only contracts. About CenterPoint Energy As the only investor-owned electric and gas utility based in Texas, CenterPoint Energy, Inc. (NYSE: CNP) is an energy delivery company with electric transmission and distribution, power generation and natural gas distribution operations that serve more than 7 million metered customers in Indiana, Louisiana, Minnesota, Mississippi, Ohio and Texas. As of March 31, 2022, the company owned approximately $35 billion in assets. With approximately 8,900 employees, CenterPoint Energy and its predecessor companies have been in business for more than 150 years.

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INDUSTRY UPDATES

AirCarbon Exchange Sees First Trades of Newly Launched Global Emission Reduction Contract

AirCarbon Exchange | June 21, 2022

AirCarbon Exchange (ACX) hosted the first trades of the newly launched Global Emission Reduction Contract, or GER, which aims to become the global reference price for voluntary carbon markets. The contract, which was created by Net Zero Markets, went live on ACX on Friday, June 17th, and traded at between $7.23 a tonne to $7.60 a tonne with Bioeconomy, who is led by Dorjee Sun, a TIME Magazine Hero of the Environment, as one of the first buyers. Its current bid/ask range is $7.65-$7.70. "The world is facing a climate catastrophe, so we need game-changing scale and speed in voluntary carbon markets, Bioeconomy is actively investing and developing large scale carbon projects and market innovations such as the GER. Bioeconomy was proud to be involved from the very outset of the new contract which can derisk and unlock liquidity for all stakeholders. The Net Zero Markets team have launched a great product that I can see quickly becoming the reference price for carbon offsetters." -Dorjee Sun The GER has been designed to tackle some of the problems with existing voluntary carbon markets by providing a single price for carbon, akin to the standardization and calibration provided by the European Union Emissions Trading Scheme for compliance markets. By combining the current mixture of standards, jurisdictions, project types and vintages into a single price, via four easy to understand sub-contracts that maintain price differentiation for harder to reach projects such as long-lived removals, the GER will help increase both liquidity and transparency in the often-opaque voluntary sector and make it much easier for corporates as well as small and medium-sized enterprises (SMEs) to offset the carbon emissions they are unable to reduce. "ACX continues to break new ground in the carbon space, The GER is a key innovation in order to streamline carbon trading. It provides a clear price of carbon which will, in turn, unlock investment into climate mitigating activities globally. We are excited to be an integral part of bringing this product to market." -William Pazos, Managing Director and Co-Founder of ACX. ACX is the first exchange to host this new contract as well as the four underlying products that the GER is comprised of. The four sub-contracts consist of the: Base Carbon Contract, or BCC, which covers the renewables and energy efficiency sector Forestry Carbon Contract, or FCC, which encompasses the agricultural, forestry and land use sectors Prime Carbon Contract, or PCC, for those projects with additional benefits that meet at least three of the United Nations Sustainable Development Goals. Carbon Capture Contract, or CCC, which covers projects that provide long-lived removal of carbon emissions, such as biochar projects. "We're obviously pleased that the GER was up and trading on its first day and pleasantly surprised by the positive interest that it has generated in such a short space of time, We've spent two years perfecting the GER and it ticks a lot of boxes for investors as well as the corporates and individuals that it was designed for." -Louis Redshaw, CEO of Net Zero Markets. About AirCarbon Exchange (ACX): AirCarbon Exchange (ACX) is a global exchange revolutionizing the voluntary carbon market. The exchange's client base comprises corporate entities, financial traders, carbon project developers and other industry stakeholders. ACX provides its clients with an efficient and transparent trading platform which is easy to use, frictionless and with the lowest commission fees available on the market. Its underlying technology will allow the carbon market to scale efficiently to meet global Net Zero ambitions. As of May 2021, ACX became the world's first carbon negative exchange, having offset its carbon emissions 12 months into the future (to May 2022) through the Onil Stoves Guatemala Uspantan project. ACX is committed to continuing to offset all of its emissions 12 months forward. In 2022, ACX was named as the 'Best Solution in Energy Trading' by Wired UK and Publicis Sapient at their Global EnergyTech Awards, which spotlighted the companies that are 'Winning the Race to Reinvent Energy'. About Net Zero Markets:  Net Zero Markets is a company dedicated to developing risk management tools, products and contracts in the global environmental space. Its benchmark Global Emission Reduction product will deliver the level of transparency and commoditisation needed for voluntary carbon markets to flourish, thereby allowing more finance to flow to the projects that are needed to achieve net zero targets. The company is led by Louis Redshaw, one of the founding figures of the global Carbon Markets. In 2006, he created a standard for trading Certified Emission Reduction (CER) carbon offsets that was adopted by all major market participants and the carbon exchanges. This initiative allowed a secondary trading market in CERs to take-off thanks to the establishment of liquidity and price transparency. Complementing Louis's deep knowledge and understanding of carbon markets, the wider team has a wealth of experience innovating and growing markets, with an emphasis on carbon and energy trading and risk management.

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