Post on 25-Jun-2020
FUTURE OF ENVIRONMENTAL FINANCE
Public Forum
May 5th, 2014
1:30-4:30 pm
at the UNC School of Government
Environmental Finance Center at the UNC School of Government Twitter: @EFCatUNC www.efc.sog.unc.edu #EnvironmentalFinance
School of Government A trusted resource for North Carolina’s public officials for more than 80 years
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School of Government’s Mission
BUILDING GREAT COMMUNITIES
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One Key to Great Communities
ENVIRONMENTAL FINANCE
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www.efc.unc.edu
Future of Environmental Finance
Opening Remarks
Jeff Hughes
Director Environmental Finance Center
Albert and Gladys Hall Coates Distinguished Lecturer
School of Government, University of North Carolina at Chapel Hill
919 843 4956
jhughes@sog.unc.edu
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Registered Participants
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Warren Jake Wicker
Gladys Hall Coates Professor of Public Law and Government UNC School of Government Faculty for 48 Years
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Perspectives on Environmental Finance
Panel 1
To submit a question or comment: • Pass your comment card to your right during
presentations • Tweet your question using #EnvironmentalFinance
at the UNC School of Government
Stan Meiburg Karen Massey Alfred Griffin Nancy McFarlane Lynn Broaddus
Stan Meiburg
Retired Deputy Regional Administrator U.S. Environmental Protection Agency Region 4
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Sustainable Environmental Finance
Stan Meiburg
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How Do We Make Environmental Finance Sustainable?
• Build a sensible business case
• The past is not coming back
• Build networks and alliances
• Identify common interests
• Quantify ecological services
• Increase financial literacy among environmental professionals
• Support each other
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Karen Massey
Director Missouri Environmental Improvement and Energy Resources Authority
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Alfred Griffin
President New York Green Bank
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Nancy McFarlane
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There is competition for capital in local government.
Funding by higher levels of
government is disappearing.
Local governments must find tools that will allow them to jointly fund environmental infrastructure.
Photo: Neuse River WWTP (Raleigh Public Record)
#EnvironmentalFinance
Financing needs to be innovative:
Can we capture savings from energy efficiency to fund infrastructure
upgrades?
Can we allow individual homes and businesses to finance on-site environmental improvements
through their utility bill?
Photo: LED Streetlights – Hillsborough Street (Cree, Inc.)
Photo: GI / LID (US EPA) #EnvironmentalFinance
Lynn Broaddus
Director, Environment Program The Johnson Foundation at Wingspread
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Panel Discussion
To submit a question or comment:
• Pass a comment card to your right
• Tweet your question using #EnvironmentalFinance
at the UNC School of Government
Stan Meiburg Karen Massey Alfred Griffin Nancy McFarlane Lynn Broaddus
Andrew Sawyers
Director EPA Office of Wastewater Management
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Challenges and Opportunities
from the Perspective of the CWSRFs
29
• Challenges
– Addressing critical wastewater infrastructure capital needs as funding
becomes increasingly scarce
– Promoting the benefits of green infrastructure solutions
– Building resiliency to extreme weather events
• Opportunities
– CWSRFs have powerful leveraging tools that can make additional
funding available for projects
• In addition to issuing bonds, the CWSRFs can provide credit enhancements
such as guarantees
– CWSRFs continue to actively advance green infrastructure and resiliency
• Funding projects that address these priorities
• Collaborating with other organizations
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Rich Thorsten
Director of International Programs Water.org
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$0 $100,000,000 $200,000,000 $300,000,000
Intl.Public
Intl.Private
DomesticPublic
DomesticPrivate
Hawley Truax
Program Officer for Environment Z. Smith Reynolds Foundation
#EnvironmentalFinance
#EnvironmentalFinance
Financials
for FY 2013
Statement of Cash Flows
Balance Sheet
12/31/2013
Income Statement
Balance Sheet
12/31/2012
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• Transparency and open dialogue
about finances helps.
• Diverse revenue streams matter.
• Hope is not a sustainable
fundraising strategy.
• Avoid undercapitalization.
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Paul Meyer
Executive Director North Carolina League of Municipalities
#EnvironmentalFinance
Local Decisions = Strong Cities
• Flexibility
• No state level political agendas
• State incentives, not mandates
• Local conditions drive decisions
• Stable, pragmatic solutions
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Strong Cities = Stronger NC
• Attractive, lower cost
• Well designed and grown
• Bolstered service efficiency
• Greater local economic future
• Prosperous NC
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Mitch Gillespie
Assistant Secretary for the Environment NC Department of Environment and Natural Resources
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N.C. Water and Wastewater Infrastructure Funding
Golden LEAF
Rural
Economic
Development
Center
Clean Water
Management
Trust Fund
Dept. of
Environment
and Natural
Resources
Dept. of
Commerce
• Capacity/
Planning
Grant
• Supplemental
Grants
• Economic
Infrastructure
Grants
• Wastewater
Infrastructure
Grants
Public Water
Supply • Drinking Water
State Revolving
Fund Loans
• General
Revolving Loans
• Technical
Assistance
Grants
• Emergency
Loans
• High Unit Cost
Grants
Construction
Grants and Loans • Clean Water
State Revolving
Fund Loans
• General
Revolving Loans
• Technical
Assistance
Grants
• Emergency
Loans
• High Unit Cost
Grants
Division of
Community
Assistance • CDBG
Infrastructure
Funds
Commerce
Finance Center • CDBG
Economic
Development
Funds
• Industrial
Development
Fund
#EnvironmentalFinance
N.C. Water and Wastewater Infrastructure Funding
Golden LEAF
Rural
Economic
Development
Center
Clean Water
Management
Trust Fund
Dept. of
Environment
and Natural
Resources
Dept. of
Commerce
Water and Wastewater
Infrastructure Funding
FEDERAL FUNDS
• State Revolving Fund (SRF) Loans
• Community Development Block
Grant-Infrastructure (CDBG-I)
Grants
STATE FUNDS
• General Revolving Loans
• Emergency Loans
• Technical Assistance Grants
• High Unit Cost Grants
Division of Water Infrastructure
Commerce
Finance Center • CDBG
Economic
Development
Funds
• Industrial
Development
Fund
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Valerie Smith
Director of Corporate Sustainability Citi
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Banking and Environmental Finance
Valerie Smith
Director, Corporate Sustainability
Citi
UNC, Future of Environmental Finance
May 5, 2014
#EnvironmentalFinance
What does banking have to do with the environment?
44
Highlight: In 2013, Citi
opened LEED (Leadership in
Energy and Environmental
Design) certified facilities in
Haiti, India, and Zambia.
Highlight: Citi reviewed
and advised clients on
environmental and social
risks in 443 transactions
in 2013.
Highlight: In 2013, Citi
directed the final $8.78
billion towards our ten-
year, $50 Billion Climate
Change Initiative, hitting our goal three years early.
Reducing the impacts of
our 12,000 facilities and
global supply chain
Managing environmental
and social risks
associated with client
transactions
Environmental &
Social Risk
Operations and
Supply Chain
Environmental
Finance
Directing financing to
industry-leading and
innovative environmental
investments
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How big are the challenges and opportunities?
45 #EnvironmentalFinance
What are the keys to success?
46
Reclaimed water used for irrigation, cooling and industrial processes enables Raleigh and Cary to reduce water consumption.
Partners: Raleigh, Cary and State of North Carolina
Caithness Shepherd’s Flat Wind Project and Desert Sunlight Solar Project are the largest wind and solar projects in the world.
Partners: DOE and State of California
Warehouse for Energy Efficiency Loans (WHEEL) provides capital for state and utility energy efficiency loans to homeowners, and securitizes those loans for investors.
Partners: PA Treasury Dept, Energy Programs Consortium, DOE, and Renewable Funding
Partnerships between Citi and local, state and federal governments and NGOs
This combination of partnership, innovation, and tenacity will be key ingredients in
turning the “Clean Trillion” idea into a market reality.
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Panel Discussion
To submit a question or comment:
• Pass a comment card to your right
• Tweet your question using #EnvironmentalFinance
at the UNC School of Government
Andrew Sawyers Rich Thorsten Hawley Truax Paul Meyer Mitch Gillespie Valerie Smith
Please Join Us After the Forum for a
Reception in the Atrium
at the UNC School of Government
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