The Commonsense Conversations on Climate Change Series explored and highlighted a wide array of topics related to climate change focusing on its effects on the financial services industry and broader economy. Initiating these dialogues is critical given the unique capability of financial institutions and markets to effectively identify risks and fund solutions. Though the topics vary, they each present ways to encourage a pragmatic, commonsense approach to the transition to a low-carbon and ultimately net-zero economy.
Recent events have underscored the importance of modernizing our grid system. However, we need to update it in a way that integrates all sources of electricity better, improves security, and is both affordable and reliable. How can the public and private sectors collaborate to meet this challenge, and is there a role for the financial industry to play to scale up investment? Rob Gramlich, Founder and President of Grid Strategies LLC, and Julia Hamm, President and CEO of the Smart Electric Power Alliance, provided their perspectives on these points and other considerations as the US plans for a more sustainable energy system.