Press Mention E&E July 17, 2022
Topical Mention
Utility executives reveal 'yawning gap' in climate action
In this mention
A survey of 190 U.S. utility executives by ICF International reveals a significant gap between climate priorities and action: 89% say reducing greenhouse gas emissions is important, but only 38% of their companies are executing strategies to achieve it. The survey indicates utilities lack capital, regulatory support, and clear pathways to implement decarbonization strategies despite recognizing the need for climate action.
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Utility executives reveal 'yawning gap' in climate action
ICF International Inc. said concerns in a survey about capital availability and cost recovery "could reflect a lack of confidence in how to move forward."
By:
Peter Behr
| 07/18/2022 06:56 AM EDT
Workers repairing the electric grid in Panama City, Fla., after Hurricane Michael in 2018.
ENERGYWIRE | A new survey of U.S. utility leaders found that nearly 9 in 10 said reducing greenhouse gas emissions from power plants was a high or moderate priority, while only 38 percent of their companies were executing a strategy to do anything about it.
The results came from a survey of 190 executives that was released by ICF International Inc., a Fairfax, Va.-based consulting firm that advises utilities on managing clean energy goals, extreme weather threats and energy equity challenges.
The "yawning gap" between climate concerns and actions "indicates leaders know they need to do 'something,' but either don't know what to do or can't implement a strategy due to lack of capital or regulatory support," the ICF survey report said. The executives and utilities were not named.
Few of the utilities have marshaled "the information, analysis, support, and resources" to face the challenges, ICF said.
The survey was conducted before last month's Supreme Court ruling in West Virginia v. EPA and Sen. Joe Manchin's statements last week in opposition to a climate bill, but it sheds light on some of the challenges utilities are facing in a transition away from fossil fuels. The stalemate at the federal level has put renewed scrutiny on what utilities, states and agencies are doing to cut greenhouse gases.