Category Archives: Delaney Reynolds

AIG to Halt Underwriting, Investing in Coal

Just as we see the world’s democracies putting overt pressure on Russia in recent days with a range of sanctions over their unconscionable war against their neighbors, the Ukraine private industry can and should play a role in bringing mankind’s fossil fuel era to an end. That’s why today’s story about American International Group (AIG) ceasing to write (underwrite) and invest in businesses that obtain more than 30% of their revenue from coal or oil sands is good news. AIG is also fully embracing renewable energy for its own business by 2030 if not sooner.

AIG is America’s largest commercial insurer and what they do (whether the coverage they write, premiums they charge, or the business risks that they are willing to insure) has a sizable impact in the overall insurance industry in the U.S. and around the world. And although it would have been nice to have seen AIG make this decision sooner (today’s news follows the leadership that their competitors, large brands including ACE/Chubb, Hartford, and The Traveler had previously made in recent years), it’s still a positive step in what will be a long, world-wide term transition from antiquated fossil fuels to clean, sustainable energy solutions.

Now before you believe that AIG’s decision is altruistic, consider that their thesis for this decision is based on science, climate science to be exact, and economics. The world’s changing weather, including increasingly more frequent and violent events such as hurricanes and flooding, are driven, as AIG has come to conclude, by our climate change crisis. And that comes at a cost of some $50,000,000 per year to their company.

Rather than continuing to make matters worse for their own profits and investors, they have effectively decided to reduce or exit support of polluting industries that are largely the cause of the climate crisis and have been increasingly eroding their own bottom lines. Profit is their motivation, which is fine, but the cause of their concern and this shift in their business is, to be clear, our warming planet.

Here’s what AIG’s Chairman said when releasing this news;

“We’ve seen catastrophe levels that are 10 times the level the portfolio dealt with in the prior 10 years for losses in excess of $50 million.”
Peter Zaffino, CEO & Chairman, American International Group (AIG)

You can read all about the details in the following article from Erin Ayers and Advisen: www.advisen.com.

To learn more about this and what other insurers are doing check out the Insure Our Future site here: insureourfuture.co.

BREAKING NEWS: Florida Youth Score Historic Victory Against The Cause of Climate Change

youth v gov petition

I am extremely pleased to share the news that Commissioner Nikki Fried and the Florida Department of Agriculture and Consumer Services (FDACS) have officially granted the Petition that three friends and I submitted to the State of Florida last month, an effort supported by hundreds of young people all over Florida, that will now result in the State starting a formal process to create the rules needed to transition our state’s electrical energy system to one based entirely (100%) on renewable energy by 2050. It is not an understatement to say that today’s news is the biggest step in Florida’s history to address the causes of climate change while also pushing the state towards its sustainable, clean energy future. Today’s news places Florida at the leadership forefront of the worldwide shift towards sustainable power and away from the fossil fuel pollution that is causing our climate crisis and putting places all over our state at the very real risk of extinction from sea level rise if we don’t take such action immediately.

Submitted on January 5th, our Petition and its proposed rule called on the FDACS to require “each electric utility that produces or purchases electricity for consumption in the State of Florida” to set and achieve goals to generate 100% of Florida’s electricity from renewable energy by 2050. The goals proposed in our Petition for Rulemaking were drawn from energy experts who have concluded that it is economically and technically feasible to achieve 100% renewable energy by 2050. Other experts have found that transitioning to renewable energy would create 222,082 construction jobs and 90,727 ongoing well-paying operational jobs, reduce energy costs for consumers, and save lives.

In addition to being America’s third largest state by population, Florida is also sadly the third largest emitter of greenhouse gases in the United States. As of 2020 only 4.3% of Florida’s energy came from renewable sources, while natural gas, an energy source that produces methane, one of the most harmful pollutants on earth and a chemical, like carbon dioxide, directly causing our climate crisis, made up 75% of Florida’s electricity system. And that’s happening in a place called the “Sunshine State!” Meanwhile, citizens and communities in Florida are increasingly experiencing the devastating impacts of the climate crisis: rising sea levels and resultant flooding, beach erosion and damage to coastal property, extreme damage to marine ecosystems, spread of infectious diseases, increased severity of storms and extreme weather events, and suffering tourism, agriculture, and recreation industries. In 2011, the Florida legislature mandated FDACS to set goals to increase the use of renewable energy and reduce the state’s dependence on fossil fuels but in over a decade since then, has done nothing to begin that process. By adopting the proposed rule submitted by my friends and me, Commissioner Fried can now bring the FDACS into compliance with this law, over a decade after it was enacted, and take an important step that others in our country and around the world can follow.

Last Friday the FDACS responded to us by issuing something called a Notice of Development of Rulemaking, which is the first official and formal step in the process towards promulgating a rule under Florida law. As we requested in our Petition the rulemaking will address “the gradual phaseout of energy production from non-renewable sources.” The FDACS will likely hold a public workshop before issuing a proposed rule that will be subject to public notice and comment before being finalized. In speaking to my friends and me Commissioner Fried said, “What you all do inspires those of us in elected office. You hold us accountable, making sure that we are doing good by our constituents.”

“This rulemaking to increase the use of renewable energy and phase out the use of fossil fuels is easily the strongest climate policy the state of Florida has proposed in over a decade,” said Andrea Rodgers, one of the Our Children’s Trust attorneys representing the youth petitioners. “Youth in Florida have acted, and we are pleased their elected leaders have responded. Now the real work begins to ensure that FDACS issues a final rule that follows the science and is as strong as it needs to be to address the climate emergency that prompted these youth to stand up for their fundamental rights in the first place.”

I agree with my friend Andrea, this is an incredible victory for the State of Florida and for our planet and I want to thank the youth of Florida for their passionate support of our petition. Thanks especially to Valholly, Isaac and Levi, my co-Petitioners in this effort and three of the seven young Floridians that also stood with me during our landmark climate lawsuit, Reynolds v. The State of Florida, in 2018. I also want to thank everyone at Our Children’s Trust for their hard work and for embracing the dire concern so many young people in Florida have over what the climate crisis is doing to our fragile state, much less the urgent need for us to address the causes of this damage before its too late. Thanks to Andrea, Mitch, Paul, David, as well as Susan. And, of course, thanks as well to Commissioner Fried and her staff for doing what I’ve called the right thing, the bold thing, and the thing that the state had not done in over a decade despite long having a mandate to create the change that addresses the causes of our climate crisis here in Florida.

And while this is an incredibly important and positive step towards our sustainable energy future there is no time to celebrate. Frankly, there is an enormous amount of work to be done to establish the required formal rules and commence the changes that our environment so desperately needs. That said, I realistically expect those that want to continue to put their profits over the pollution they cause to fight our every step and to work hard to delay the changes to their businesses that are essential to our solving our climate crisis. This fight will never be easy, but the stakes are far too important to allow the antiquated approaches that are now in place to continue to cause damage. On behalf of youth in Florida please know that we are up to the task and the fight. I sure am. Our future and our environment are at stake here and we are committed to ensuring that the state of Florida shifts to sustainable energy use and in doing so leads the world into the future.

Given the incredibly positive news of the day allow me to end on a positive thought. Here’s to hoping that every one of our elected leaders, utilities and related stakeholders will set their differences, politics, rhetoric, fears and yes, profits, aside and do the right thing for our environment and future. Transitioning to an energy system that is 100% based on clean, sustainable, power is a noble goal that each of us should aspire too. Be bold. Do the right thing. And do it with the transparency and speed that Florida deserves. That’s my hope for what comes next now that our Petition has been accepted and I hope that you will join me as we work to eliminate the cause of the climate crisis.

What Will Nikki Do?

That’s the question I’ve had on my mind a lot over the last month.

What will Nikki do?

That’s Florida’s Commissioner of Agriculture and 2022 Democratic candidate for Florida Governor Nikki Fried. Three friends of mine and I filed what’s called a Petition for Rulemaking to demand that her office comply with a 2006 Florida law that calls for our government agencies to create the rules and steps for businesses to reduce carbon pollution, while also eliminating the systemic cause of that pollution: fossil fuels.  Friday, February 5th will mark 30 days since my friends and I filed our Petition and the law allows the government 30 days to respond to our request.

Yesterday my friends, our lawyers, and I met with the Commissioner and her Staff to discuss our Petition, its status, and her office’s next steps. I don’t yet know what the Department of Agriculture and, within it the Office of Energy, will do but I can say that the time has come for Florida’s political leaders to follow the 2006 law, something that has sadly not happened since it was implemented nearly two decades ago. Just think about that. Nearly two decades after a law was created to commence eliminating fossil fuels and to shift energy sources to sustainable ones in one of the most fragile places on the planet, and our entire government has done exactly nothing to create the rules and processes to demand compliance. And we wonder why our climate crisis only gets worse by the day.

Commissioner Fried has frequently talked about our climate crisis but has thus far failed to take any meaningful action to address the cause of the pollution caused by fossil fuels. In 2019 Commissioner Fried, for example,  addressed the attendees of the Florida Energy & Climate Summit and talked about the urgent need for Florida and America to address energy and climate issues including saying this:

“It’s time as the nation’s third largest state – using the third-most energy – to face the facts on climate change and energy efficiency, and start preparing for the future. There’s no time to wait. Greenhouse gases are up 400% since 1950, and over 900 people move to Florida every day – we have to change how we use energy. That’s why today, I’ve unveiled an ambitious package of legislation to address greenhouse gas emissions, fund research on climate resilience and sustainability, and help fund energy and water efficiency upgrades on Florida’s farms.”

Florida Agricultural Commissioner Nikki Fried, October 3rd, 2019

Or, consider that in early 2021 the Commissioner said the following:

“Florida is one of the states most vulnerable to the climate crisis. Our leaders should be moving forward on clean energy-instead they are upholding a system that raises costs for consumers and protects special interests at the expense of our future. We have to break the system.”

Florida Agricultural Commissioner Nikki Fried

I sure do agree with that sentiment. Yes, we do need to “break the system,” our antiquated use of fossil fuels, and along with it our energy distribution system, including the overt control of power creation and distribution by monopolistic public utilities far more interested in their investors and profits than eliminating pollution no matter what their expensive advertising might otherwise suggest. But, the issue is that such comments and speeches are just talk.

It is now essential that we see actual action and, thus, this week’s response to our Petition, a petition that young people all over Florida have enthusiastically signed on to support (thanks everyone!), holds the promise of allowing Florida to take a serious, meaningful step towards addressing the cause of our climate change crisis.

So tonight, on the eve of the Commissioner’s deadline to respond to the Petition that my friends and I have presented to demand that the talk comes to an end and the solutions commence, let’s all ask and wonder “what will Nikki do?” And here’s to hoping she does the right thing, the bold thing, and, remarkably, the thing that none of Florida’s so-called leaders have been willing to do in the 16 years since the law that called for action was created.

To learn more about our petition or to join us as we demand that the state of Florida take action to address the cause of our climate crisis please visit the petition website here.

Petition 1

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