Commercial Observer

New York City’s oft-maligned Local Law 97, which requires owners of most larger buildings to reduce their carbon emissions, has been subject to criticism and even a lawsuit calling the measure financially burdensome and unconstitutional. But for some developers, the law has proven to be a welcome catalyst for pursuing environmentally friendly developments — ones with the potential to be quite profitable.


PJM Interconnection announced today the successful procurement of resources in its annual capacity auction to meet electricity needs and ensure reliable service for the 2023/2024 Delivery Year. The auction results reflect a reliable and lower-carbon resource mix achieved at a low cost to consumers. Prices for the 2023/2024 Delivery Year were lower than in the previous auction for the 2022/2023 Delivery Year. As a result, sufficient resources plus robust reserve levels were procured at a cost of $2.2 billion, compared with approximately $4 billion for the current 2022/2023 Delivery Year.

WASHINGTON, D.C. — The U.S. Department of Energy (DOE) today released a Notice of Intent (NOI) to fund the Bipartisan Infrastructure Law’s $8 billion program to develop regional clean hydrogen hubs (H2Hubs) across America. H2Hubs will create networks of hydrogen producers, consumers, and local connective infrastructure to accelerate the use of hydrogen as a clean energy carrier. The production, processing, delivery, storage, and end-use of clean hydrogen, including innovative uses in the industrial sector, is crucial to DOE’s strategy for achieving President Biden’s goal of a 100% clean electrical grid by 2035 and net-zero carbon emissions by 2050.

Securities and Exchange Commission

Today, the Commission is considering a proposal to improve disclosures by certain investment advisers and funds that purport to take Environmental, Social, and Governance (ESG) factors into consideration when making investing decisions. I am pleased to support this proposal because, if adopted, it would establish disclosure requirements for funds and advisers that market themselves as having an ESG focus.

By Columbia Center on Global Energy Policy

Hydrogen has become one of the most debated topics in the energy industry. As an energy vector, hydrogen has been touted as a possible path to decarbonize energy sectors that are considered difficult to electrify, such as heavy-duty transport. While hydrogen expansion faces challenges associated with introducing it into new sectors and decreasing the cost of green (or low-emission) hydrogen, major economies such as China, the EU, and the United States have been looking to integrate its use into their decarbonization strategies. Demand for hydrogen could more than quintuple in a global net-zero-carbon-emissions scenario.

BioCycle Magazine

In late February, the California Public Utilities Commission (CPUC) set biomethane procurement targets for utilities to reduce short-lived climate pollutant (SLCP) emissions. The decision establishes a biomethane procurement program crafted to help achieve the state’s goals that require the reduction of emissions of methane and other SLCPs by 40% below 2013 levels by 2030. “Renewable gas procurement will reduce otherwise uncontrolled methane and black carbon emissions in our waste, landfill, agricultural and forest management sectors,” noted the CPUC in its announcement of the procurement targets. It cites 2019 California Air Resources Board data that identified those sectors being responsible for more than 75% of the state’s methane emissions.

Global Reporting Initiative

The IFRS Foundation and Global Reporting Initiative (GRI) have announced today a collaboration agreement under which their respective standard setting boards, the International Sustainability Standards Board (ISSB) and the Global Sustainability Standards Board (GSSB), will seek to coordinate their work programmes and standard-setting activities.