Citigroup forms energy transition group within investment banking
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Citigroup forms energy transition group within investment banking - memo
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US Vineyard wind farm approval welcomed
US federal approval of the first large-scale offshore wind farm in the US marks an historic day for the clean energy transition, advocates said May 11. Slated for construction off the coast of Massachusetts, the $2bn project will be the largest of its kind to be commissioned for US waters.
American Clean Power Association CEO Heather Zichal hailed the sanctioning as an historic step for the US energy sector.
“Now is the time to push forward on offshore wind, catch up to global competitors, and decarbonise our electric grid, so that the US can deliver economic and environmental benefits to our citizens and combat climate change,” she said.
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The Washington Legislature passed Senate Bill 5126, the Climate Commitment Act,
on April 24, 2021, which establishes a greenhouse gas emissions
cap-and-invest program for utilities, industrial facilities, and
other operations with greater than 25,000 metric tons of emissions.
Covered entities will be subject to a statewide emissions cap that
decreases over time to match the state s goal of net-zero
emissions by 2050. Under the Climate Commitment Act, the Washington
State Department of Ecology (Ecology) will seek to link the
cap-and-invest program s market for emissions allowances and
offsets with California s cap-and-trade program. Revenue from