Focus
As risks of climate change rise, investors seek greener buildings
The New York Times – October 26
When the developer Lendlease opens its $600 million residential and office complex in Los Angeles, expected in 2025, the site will have the typical hallmarks of sustainable development: proximity to a light-rail stop, an all-electric residential tower, solar panels, and a pedestrian plaza. But those features are considered commonplace these days. What makes this development more striking is how sustainability isn't simply an amenity or signifier of corporate responsibility, but a core feature of its financing plan.
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News
$1.4 trillion blueprint would address Bay Area's housing, transit woes
San Francisco Examiner – October 23
The Metropolitan Transportation Commission and the Association of Bay Area Governments last Thursday approved Plan Bay Area 2050, an expansive vision guiding the region's growth and development over the next three decades. The document takes a broader view than previous regional plans, endorsing progressive policy priorities like a universal basic income and a region-wide rent cap, alongside massive new spending on affordable housing and transportation infrastructure.
Southern California Edison eyes building electrification filing later this year
Utility Dive – October 15
Southern California Edison is developing a building electrification plan to present to state regulators later this year, Senior Vice President of Corporate Affairs Caroline Choi said at an event hosted by the Business Council for Sustainable Energy. California wants to reach 60% renewables by 2030 and has aggressive emissions-reduction targets as well. "We are behind on both clean energy goals as well as on all the electrification that needs to take place," Choi said. "First on the transportation side, and particularly the building side."
Environmentalists urge San Diego County to speed up climate planning
The San Diego Union-Tribune – October 21
As San Diego County works on updating its climate plan by 2023, environmentalists urged the Board of Supervisors this week to hasten its action in light of escalating wildfires, drought, and other climate effects. After years of unsuccessfully fighting lawsuits by environmental groups challenging the county's old climate action plan, the Board of Supervisors voted in July to create a new plan that will be legally enforceable and won't use carbon offset credits — which allow developers to pay to continue releasing climate pollutants rather than reducing them.
Major asset managers, including CalPERS, to cut portfolio emissions by at least 25% by 2025
Insurance Journal – October 21
By 2025, 29 of the world's biggest pension funds and investment firms, including Allianz SE and the California Public Employees' Retirement System (CalPERS), intend to have cut the emissions of their portfolio holdings by at least 25%. The targets, which cover publicly-traded equities, corporate bonds, and real estate portfolios, were announced in a statement Wednesday by the Net Zero Asset Owner Alliance, which was convened by the United Nations.
Manhattan Beach considering solar for new buildings
Daily Breeze – October 23
The Manhattan Beach City Council this week directed staff to work on a plan that would require photovoltaic systems — or solar energy panels — on all newly constructed city facilities and privately owned, non-residential buildings. The move is meant to help Manhattan Beach meet the state’s goal of zero net energy for all new residential and municipal buildings by 2025, and for all privately owned nonresidential buildings by 2030.
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