August 5, 2020: New York is spending $1 billion to increase access to energy efficiency measures in households, with $300 million devoted to low-and-moderate income families. British Petroleum laid out its plan to cut oil and gas production by 40 percent and significantly boost its low-carbon investments as the company seeks to tackle climate change. A report by Wood Mackenzie finds that the U.S. Treasury could generate $1.7 billion in revenue and the U.S. could create tens of thousands of jobs by increasing offshore areas available for wind power development, while a separate report by the Global Wind Energy Council finds that global offshore wind development could create 900,000 jobs in the coming decade.

“We are thrilled with the opportunity to build Lordstown Motors into a top-tier electric truck company that is highly differentiated from the competition," said Lordstown Motors CEO Steve Burns on the start-up’s merger to become a publicly traded company. "We are uniquely positioned to be a leader in the industry."

Video: Global Offshore Wind Report 2020                                                                

Political Climate: Relief, Rescue, Rebuild: The Case for a Sustainable Recovery

New York will spend $1 billion through 2025 on energy efficiency measures and education, with a dedicated focus on low-to-moderate income residents. The collaboration between the New York State Energy Research and Development Authority and the region’s investor-owned utilities will increase access to more energy-efficient heating and cooling, electric load reduction and other services for over 350,000 lower income households. The initiative parcels out $300 million exclusively for these households, which will lead to lower power bills and could improve indoor air quality due to better insulation protecting against air pollution. Separately, the Citizens Utility Board of Illinois issued a paper that links the pandemic to a heightened need for transportation electrification in Black, Latinx and other communities that are disproportionately impacted by air pollution. (Grist, Energy News Network)

Oil giant British Petroleum released a plan to slash oil and gas production by 40 percent and dramatically boost spending on low-carbon energy, as it changes its business strategy to address climate change. The plan adds details to BP’s previously announced goal to reach net-zero carbon emissions by 2050. It includes a target of reducing carbon emissions by a third and increasing spending on low-carbon energy to $5 billion per year by 2030. The announcement comes as oil and gas majors report sharp earnings drops amid the economic downturn from the pandemic, and was followed by a 7.8 percent jump in share price for the company. (Washington Post)

Regulators in New Mexico unanimously voted for utility PNM to replace coal-fired power from the San Juan Generating Station with 100 percent renewable energy. The decision ends a year-long debate on the future of coal in the region, and puts the state on a path to meet the goals of the Energy Transition Act -- a 2019 mandate for the state to reach 100 percent carbon-free electricity generation by 2050. The coal plant will go offline in 2022 and advocates are urging the New Mexico Public Regulation Commission to move forward with a proposal that includes a portfolio of almost 1,000 megawatts of solar and battery storage. (The NM Political Report)

The U.S. Treasury could generate $1.7 billion and create tens of thousands of new jobs by leasing out offshore zones for wind development. The analysis by Wood Mackenzie finds that zones being studied by the Bureau of Ocean Energy Management could hold 37 gigawatts of offshore wind capacity -- tripling the current capacity potential and leading to increased economic competitiveness, lowered project costs and increased supply chain investments. Offshore wind developers are increasingly interested in building projects along the East Coast, but a lack of zones available for development is hindering the industry’s growth. Separately, a study by the Global Wind Energy Council finds that global offshore wind capacity could grow eightfold and create 900,000 jobs over the coming decade. (Greentech Media, The Guardian)

General Motors is investing $75 million in electric-truck maker Lordstown Motors. The investment is part of a $500 million deal that will transition Lordstown Motors to a publicly traded company and boost its valuation by $1.6 billion. Lordstown Motors has received $1.4 billion in revenue in electric truck orders since June, mostly from commercial fleet customers, and plans to start hiring 600 workers next year to begin building the trucks. GM also announced it will work with electric vehicle charging network company EVGo to build 2,700 electric-vehicle fast-chargers over the next five years. The chargers will be developed in 40 metropolitan areas where potential drivers don’t have access to home charging options.  (Detroit Free Press, Detroit News)

Political efforts to address climate change, including goals to achieve zero emissions by 2050, cannot succeed without acknowledging the movement’s intersection with racial injustice, according to an interview with one of the Green New Deal architects Rhiana Gunn-Wright of the Roosevelt Institute. Gunn-Wright discusses how a more systemic understanding of racial justice issues that are woven into political efforts to fight climate change will be needed in order to meet climate goals and reach a carbon-neutral society. A historic failure to engage and empower communities of color contributes to fossil fuel infrastructure and its resulting pollution being sited in poor neighborhoods that are predominantly Black and brown. (Bloomberg)