ICAST’s TBL Fund 2020 Review
2020 was a record year at our Triple Bottom Line Foundation. We supported our largest project to date, an Energy Performance Contract in New Mexico exceeding $1 Million. We also signed a contract to offer low-cost financing to multifamily affordable housing properties in LA County for the Southern California Regional Energy Network financing program. 2021 is gearing up to be another milestone year!
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HP Moved Manufacturing Out of Houston After Hurricane Harvey Due to Climate Risks
Two months after Hurricane Harvey flooded Hewlett Packard’s Houston campus in three feet of rain in 2017, the company announced it was moving all manufacturing operations out of the Houston area to locations less exposed to extreme weather. Most went to a facility in Chippewa Falls, Wisconsin with HP citing that the Midwest location was “less vulnerable to acute physical climate related risks.” The company also did something few companies do by disclosing climate-related risks to its investors.
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ICAST Energy Conservation Measures Project
ICAST has now registered its first Carbon Credits on the voluntary registry CSA GHG Clean Projects. The Project will achieve GHG emissions reduction through reduced consumption of fossil fuel energy resulting from appliance upgrades to more efficient appliances or the installation of solar PV units.
New Florida Bank to Support Sustainable Businesses
Climate First Bank will serve the greater St. Petersburg, FL area as a full-service community bank applying a unique, values-based business model. Climate First Bank expects to open in 2021 to offer retail and commercial banking services. Climate First Bank’s manifesto on the climate crisis involves initiatives based on the comprehensive plan articulated in the book, Drawdown. The book, which inspired Project Drawdown, outlines a measurable, executable plan to reverse the climate crisis.
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