Finance

Through its $400 billion in loan authority mandated from the Bipartisan Infrastructure Law and Inflation Reduction Act, the Department of Energy's Loan Programs Office (LPO) is playing a pivotal role in onshoring and commercializing clean energy technology in America. The LPO's commitment to financing innovative projects, reducing emissions, and fostering economic growth has led to $17 billion in loans committed in 2023 and $175 billion in loans requested overall. The conditional commitments and emphasis on private sector collaboration demonstrate a forward-thinking approach where public funds are multiplied by private sector investment to achieve goals around domestic clean energy production and decarbonization. It's heartening to see the LPO's dedication to community benefits and job creation as a part of an inclusive growth strategy for our country. We should look forward to witnessing the LPO's continued impact in 2024 and beyond, as it plays a crucial role in shaping a clean, secure, and more prosperous America.

In alignment with the Biden administration’s government-wide commitment to combatting the climate crisis, Jake Levine serves as the first Chief Climate Officer of the US International Development Finance Corporation. As a global development finance institution, in this exclusive interview with VX News, he elaborates on the agency’s goal to drive a surge in climate finance in countries around the world focused on clean energy, ports, agriculture, the blue economy, and more. 

To better understand the state of ESG investing and climate accounting regulation, VX News turns once again to Mike Wallace, Persefoni’s SVP of Strategic Market Engagement.

VX News share's the Biden Administration's May executive order on climate-related financial risk. The order directs National Climate Advisor, in coordination with Treasury Secretary Janet Yellen and the Office of Management and Budget (OMB) to develop a comprehensive, Government-wide strategy for identifying and addressing exposure to climate-related financial risks facing US financial institutions.

Canada Prime Minister Justin Trudeau's remarks on trade negotiations during his visit to Southern California opined on the mutually-beneficial relationship between Canada, the U.S., and specifically the LA region.