S&P Global Ratings’ Michael Ferguson explores how California’s 100% renewable mandate will impact power markets; covered by the specialist press

In September, California Governor, Jerry Brown, unveiled a new gold standard for renewable energy in the U.S. – a mandate requiring the state to go 100% “green” by 2045. Yet for all the bill’s praise, a report published by S&P Global Ratings suggests that numerous technological and political challenges lie ahead.

As California edges towards its renewable goal, the economics of gas-fired generation promises to worsen. On the flip side, renewable energy will of course benefit though the extent of this will depend on the asset type. The durability and reliability of hydro and geothermal power, for instance, put these assets in pole position. Question marks remain over solar and wind, however:  the intermittent nature of these resources will, according to some estimates, necessitate a 200-fold increase in battery storage. Development in this sector has yet to truly take off.

Following Moorgate’s outreach, Climate Change News, Infrastructure Investor, Energy Manager Today, Energy Manager Today, NA Clean Energy, and Environmental Finance covered the news.

The Banker names Natixis’ Green and Sustainable Hub as its Team of the Month

The Banker has profiled Natixis’s Green and Sustainable Hub (GSH) as its Team of the Month. The hub, integral to all of Natixis’ work in green and sustainable finance sector, is helping to cement Natixis’ position as the leading reference bank for such activities.

Speaking with Orith Azoulay, Head of the GSH, and Thomas Girard, in charge of business development at the GSH, the article highlights some of the team’s achievements from the past year, including the first commercial mortgage-backed securities (CMBS), real-estate loans and structured notes.

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Natixis wins The Banker’s “Most innovative investment bank for climate change and sustainability”

The Banker has named Natixis “Most innovative investment bank for climate change and sustainability” at its 2018 Investment Banking Awards.

The award recognises the innovative work Natixis is doing in the green and sustainable finance sector, including numerous first-of-their-kind deals and the development of an internal mechanism for integrating environmental risks into their overall risk assessment for financings worldwide.

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Natixis’ Orith Azoulay and Louis Douady discuss the Green Weighting Factor in Environmental Finance

In an interview with Environmental Finance, Orith Azoulay, Head of Natixis’ Green and Sustainable Hub, and Louis Douady, Natixis’ Head of Environmental and Social Responsibility, discuss the bank’s new “green weighting factor”.

They explain how Natixis wanted to anticipate any incoming European regulation and introduce a highly versatile methodology which covers diverse industries while also working alongside existing taxonomies.

To read the article in full, please click here (please note the paywall).

 

Orith Azoulay, Global Head of Natixis’s Green and Sustainability Hub, discusses sustainable structured products in The Banker

Quoted in The Banker, Orith Azoulay, Global Head of Natixis’s Green and Sustainability Hub, explained that the growing trend for investors is “a top-down, cross-asset class commitment to ESG and/or green”.

However, Azoulay also noted that “the market has not defined per se what a green structured product is and how to assess its greenness”, and while common guidelines have been developed for other asset classes, a framework is still lacking for structured products.

To read the article in full, please click here (please note the paywall).

Miroslav Petkov, S&P Global Ratings, considers the growth of adaptation finance in the face of climate change, for the Cambridge Institute of Sustainable Leadership (CISL)

Following extreme weather events last year, the international community has issued multiple calls to strengthen infrastructure against extreme weather events and the expected impact of climate change. Writing for the Cambridge Institute of Sustainable Leadership (CISL), Miroslav Petkov, Director, S&P Global Ratings explores the need for and potential rise of adaptation infrastructure finance.

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