Budget Hearing – Fiscal Year 2025 Request for the Federal Emergency Management Agency
Subcommittee hearing on FEMA’s $33.1 billion Fiscal Year (FY) 2025 President’s Budget request.
Witness:- Deanne Criswell, Administrator, Federal Emergency Management Agency
Whether it is a wildfire, flood, derecho storm, or other disaster, it is vital that FEMA tap into an adequately funded Disaster Relief Fund (DRF). For FY 2025, FEMA’s total request includes $22.7 billion for the DRF to respond to new and ongoing disasters. This is a $2.0 billion increase over FY 2024 funding levels to support continued recovery efforts, such as those in Maui, after the most devastating wildfires in the island’s history. The Maui fires destroyed much of the historic town of Lahaina and forced its tightknit community to scatter across Maui and beyond. In response, FEMA and the U.S. Small Business Administration approved more than $339.0 million in federal assistance to survivors. FEMA continues to partner with interagency, federal, State, and local governmental leaders to ensure survivors and businesses on Maui have access to critical resources as they rebuild. Without essential funding in the DRF, we could not support response and recovery in Maui, and other current and future disaster sites. At the DRF’s present funding levels, FEMA is in a similar position as last year and we may need to resort to Immediate Needs Funding (INF) before the end of the Fiscal Year, preserving limited DRF balances for life and safety response operations and other critical survivor needs. To mitigate INF risks, I urge the Committee to act on the disaster supplemental request for FY 2024, which requested an additional $9.0 billion for the DRF. FEMA requires not only a fully funded DRF but also a well-trained workforce ready to deploy at a moment’s notice. FEMA’s workforce is our most valuable asset. The FY 2025 Budget provides $2.4 billion in personnel pay, compensation, and benefits because workforce wellbeing, recruitment, and retention are always critical priorities for FEMA. FEMA’s FY 2025 Budget includes $6.8 million to support disaster workforce readiness. This funding provides training and education enhancements for the Incident Management Assistance Team and Federal Coordinating Officer cadres. These personnel are crucial, as they provide hands-on support to survivors after a disaster and coordinate federal assistance with agency partners.
The FY 2025 Budget request also provides $15.2 million for three additional Logistics Staging Management Teams. Strategically placed across the United States, these teams ensure rapid delivery of resources to our State, local, tribal, and territorial (SLTT) partners. This funding also provides increased staffing for existing five staging management teams. These additional teams will support FEMA’s efforts to significantly reduce lag time in responding to and prepositioning lifesaving and life sustaining commodities. One of my priorities for this year is continuing to boost SLTT capacity for responding to extreme weather events. FEMA no longer has a disaster “season” — natural disasters occur throughout the entire year, often concurrently and in places that are not familiar with the type and level of these disasters. As FEMA Administrator, I talk to State directors regularly and, in nearly every conversation, they ask for help improving their capacity to address this yearround disaster response tempo. In this challenging environment, the safety and security of the FEMA workforce are essential. Structural and technical improvements at several facilities throughout the United States will allow the workforce to better prepare for, and respond to, domestic events. FEMA’s Budget request includes a total of $101.7 million for facility requirements. Information technology (IT) is also essential to FEMA operations and as the field of emergency management evolves, IT systems must match that need. For years, FEMA struggled with deficiencies in data analytics and financial system reporting, consequently FEMA requests $122.1 million in IT modernization initiatives. Just one example is the ongoing Financial Systems Modernization effort, which is replacing an outdated 44-year-old legacy system with a modern and secure integrated system. FEMA’s FY 2025 Budget request also ensures timely and accurate communications to each and every community across our nation regarding potential threats to public safety. FEMA’s Budget request includes $46.9 million in funding for the Integrated Public Alert and Warning System to continue this vital mission, which is an increase of $8.0 million. This funding will allow FEMA to address gaps standards, outreach, training, technical assistance, and sustainment activities, to help ensure communities are prepared to respond quickly and effectively to natural threats, local hazards, natural or human-induced emergencies, and catastrophic incidents. Our Budget request also includes $10.6 million to support continued modernization of our National Public Warning System. As FEMA continues to adapt to this rapidly intensifying disaster cadence, one thing is clear: FEMA is more than just a response and recovery agency. FEMA helps communities become more resilient and better prepared before a disaster strikes. One way FEMA achieves this goal is through grant programs. Grants aid SLTT governments and the private sector to help build operational capabilities needed to implement preparedness strategies and reduce or eliminate long-term risks to people and property. FEMA’s FY 2025 Budget request includes $3.2 billion for grants to help safeguard our communities, citizens, and support our nation’s first responders. For example, the Nonprofit Security Grant Program (NSGP) provides funding for physical security enhancements and other security-related activities for non-profit organizations at a high risk of terrorist attack. FEMA’s FY 2025 Budget requests $385 million, an increase of $80.0 million for the NSGP, to expand the program to more non-profit organizations in both high-risk urban and rural areas. Additionally, FEMA’s Budget request includes an increase of $25.0 million, each for the Assistance to Firefighters Grant (AFG) and Staffing for Adequate Fire and Emergency Response (SAFER) programs. An increase to the AFG Program will enable FEMA to provide additional financial assistance directly to eligible fire departments, non-affiliated emergency medical service organizations, and State Fire Training Academies for wellness activities for firefighters for cancer screening, cancer awareness, and to protect communities from polyfluoroalkyl substances (PFAS). Yet oversubscription to these programs is stark. For example, in 2023, the SAFER Program received 1,582 applications from fire departments and volunteer firefighter interest organizations across the nation, seeking over $2.8 billion in funding, yet the program was only able to fund 177 applications, leaving a significant unmet need. FEMA’s FY 2025 Budget request also includes $1.0 billion for the Building Resilient Infrastructure and Communities (BRIC) grant program. These grants support SLTTs as they undertake hazard mitigation projects, reducing risks they face from disasters and natural hazards. Similarly, strong, disaster-resistant building codes are a cornerstone of effective hazard mitigation and resilient communities. Building codes save lives and property. Adopting the latest building codes can save $11 per each $1 invested, according to a nationwide study FEMA conducted in 2020. In support of this effort, FEMA’s FY 2025 Budget request includes $2.1 million to implement the agency’s Building Codes Strategy and support the White House’s National Initiative to Advance Building Codes. We also recognize that on average, disaster-related floods lead to more deaths every year than any other natural events leading FEMA to request $364 million for Flood Hazard Mapping and Risk Analysis, a $51.0 million increase, to increase FEMA’s map inventory and assist communities to better prepare for future conditions. These funds will also help modernize coastal mapping and better prepare our communities for future flooding conditions. Finally, FEMA requested $175.0 million for flood mitigation assistance grants, which are funded out of the National Flood Insurance Fund. These funds will not only support communities with their mitigation projects, but will also assist FEMA’s goal to advance environmental justice by making critical investments in disadvantaged communities through the Justice40 initiative. Communities in your districts and across our nation continue to rely more on FEMA than ever before, and our FY 2025 Budget request provides necessary resources to meet the mission and serve your constituents as they recover from a disaster.
Budget Request for the U.S. Department of Energy for Fiscal Year 2025
The purpose of this hearing is to examine the President’s budget request for the U.S. Department of Energy for Fiscal Year 2025. The request is for $51.42 billion, including $25 billion for maintenance of the nuclear arsenal, $8.23 billion for cleanup of DOE environmental pollution, and $8.58 billion for the Office of Science.
Witness:- Jennifer M. Granholm, Secretary, U.S. Department of Energy
The Budget includes $8.5 billion across DOE to support researchers and entrepreneurs transforming innovations into commercial clean energy products, including in areas such as: offshore wind; industrial heat; sustainable aviation fuel; and grid infrastructure.
The Budget invests $1.6 billion to support clean energy workforce and infrastructure projects across the Nation, including: $385 million to weatherize and retrofit homes of low-income Americans; $95 million to electrify Tribal homes, provide technical assistance to advance Tribal energy projects, and transition Tribal colleges and universities to renewable energy; $113 million for the Office of Manufacturing and Energy Supply Chains to strengthen domestic clean energy supply chains, and $102 million to support utilities and State and local governments in building a grid that is more secure, reliable, resilient, and able to integrate electricity from clean energy sources.
The Office of State and Community Energy Programs includes $385 million for the Weatherization Assistance Program to weatherize low-income homes.
The Budget supports $76 million to advance technologies that can enable earlier detection of methane leaks and integrate across a network of methane monitoring sensors for more reliable measurement and mitigation and $150 million to make small quantities of high-assay, low-enriched uranium (HALEU) available for ongoing advanced nuclear reactor demonstrations.
Business Meeting on Ambassadors, Diplomats, and Legislation
Full committee business meeting to consider:
Conservation- S.618, to establish the United States Foundation for International Conservation to promote long-term management of protected and conserved areas
- S.1829, to impose sanctions with respect to persons engaged in the import of petroleum from the Islamic Republic of Iran
- S.2626, to impose sanctions with respect to the Supreme Leader of Iran and the President of Iran and their respective offices for human rights abuses and support for terrorism
- S.2336, to address the threat from the development of Iran’s ballistic missile program and the transfer or deployment of Iranian missiles and related goods and technology, including materials and equipment
- S.3235, to require a strategy to counter the role of the People’s Republic of China in evasion of sanctions imposed by the United States with respect to Iran
- S.3874, to impose sanctions with respect to foreign support for terrorist organizations in Gaza and the West Bank
- S.Res.505, condemning the use of sexual violence and rape as a weapon of war by the terrorist group Hamas against the people of Israel
- S.3854, to combat transnational repression abroad, to strengthen tools to combat authoritarianism, corruption, and kleptocracy, to invest in democracy research and development
- S.1651, to encourage increased trade and investment between the United States and the countries in the Western Balkans
- S.138, to amend the Tibetan Policy Act of 2002 to modify certain provisions of that Act
- S.1881, to reauthorize and amend the Nicaraguan Investment Conditionality Act of 2018 and the Reinforcing Nicaragua’s Adherence to Conditions for Electoral Reform Act of 2021
- S.Res.357, recognizing the formation of the Alliance for Development in Democracy and urging the United States to pursue deeper ties with its member countries
- S.Res.385, calling for the immediate release of Evan Gershkovich, a United States citizen and journalist, who was wrongfully detained by the Government of the Russian Federation in March 2023
- S.Con.Res.18, calling for the immediate release of Marc Fogel, a United States citizen and teacher, who was given an unjust and disproportionate criminal sentence by the Government of the Russian Federation in June 2022
- Stephanie Sanders Sullivan, of Maryland, to be Representative of the United States of America to the African Union, with the rank and status of Ambassador
- Pamela M. Tremont, of Virginia, to be Ambassador to the Republic of Zimbabwe
- Elizabeth Rood, of Pennsylvania, to be Ambassador to Turkmenistan
- Richard H. Riley IV, of California, to be Ambassador to the Federal Republic of Somalia
- David J. Kostelancik, of Illinois, to be Ambassador to the Republic of Albania
- Kamala Shirin Lakhdhir, of Connecticut, to be Ambassador to the Republic of Indonesia
- Stephan A. Lang, of Virginia, to be U.S. Coordinator for International Communications and Information Policy, with the rank of Ambassador
- Jennifer M. Adams, of Virginia, to be Ambassador to the Republic of Cabo Verde
- Courtney Diesel O’Donnell, of California, to be United States Permanent Representative to the United Nations Educational, Scientific, and Cultural Organization, with the rank of Ambassador
- Dorothy Camille Shea, of North Carolina, to be Deputy Representative of the United States of America to the United Nations, with the rank and status of Ambassador and the Deputy Representative of the United States of America in the Security Council of the United Nations, and to be Representative of the United States of America to the Sessions of the General Assembly of the United Nations, during her tenure of service as Deputy Representative of the United States of America to the United Nations
- Dafna Hochman Rand, of Maryland, to be Assistant Secretary for Democracy, Human Rights, and Labor
- Arthur W. Brown, of Pennsylvania, to be Ambassador to the Republic of Ecuador
- Richard Mills, Jr., of Georgia, to be Ambassador to the Federal Republic of Nigeria
- Mark Toner, of Pennsylvania, to be Ambassador to the Republic of Liberia, all of the Department of State
- Andrew William Plitt, of Maryland, to be an Assistant Administrator of the United States Agency for International Development
- Richard L.A. Weiner, of the District of Columbia, to be United States Director of the European Bank for Reconstruction and Development
- Elizabeth Shortino, of the District of Columbia, to be United States Executive Director of the International Monetary Fund
The Biden Administration’s 2024 Trade Policy Agenda with United States Trade Representative Katherine Tai
Full committee hearing.
Witness:- Katherine Tai, United States Trade Representative
Budget Hearing – Fiscal Year 2025 Request for the U.S. Forest Service
Subcommittee hearing on the Fiscal Year 2025 Request for the U.S. Forest Service. The budget request is $8.9 billion; $6.5 billion for base programs and $2.39 billion for the wildfire suppression cap adjustment in the Wildfire Suppression Operations Reserve Fund.
Witnesses:- Mark Lichtenstein, National Budget Director, U.S. Forest Service
- Randy Moore, Chief, U.S. Forest Service
- $58 million for recreation, heritage and wilderness (+$18M from 2024)
- $33 million for vegetation and watershed management (+$3M from 2024)
- $207 million for hazardous fuels reduction (+$31.55M from 2024)
- $315.6 million for forest and rangeland research (+$15.6M from 2024)
- $25 million to address the urgent need for maintenance of employee housing.
2024 Columbia Global Energy Summit: Navigating Global Challenges to Accelerate the Energy Transition
The Columbia Global Energy Summit 2024, hosted by the Center on Global Energy Policy at Columbia University SIPA, is an annual event dedicated to thought-provoking discussions around the critical energy and climate challenges facing the global community.
This year’s day-long Summit will address myriad issues at the heart of today’s complex geopolitical, environmental and economic landscape, including the impact of climate change and the energy transition on geopolitics and security; the outlook for clean energy deployment in the face of growing policy support, as well as challenges such as interest rates, permitting reform and trade conflict; pathways to mobilize finance for clean energy in emerging and developing economies; energy justice imperatives; and the impact for energy and climate policy in key elections around the world in 2024.
The Summit will also be livestreamed and virtually accessible to all. In addition to the formal program, the Summit also offers opportunities for participants and attendees to network and develop partnerships and relationships.
8:30 a.m.
Welcome Remarks- Keren Yarhi-Milo, Dean, Columbia University’s School of International and Public Affairs
8:35 a.m.
Opening Remarks- Jason Bordoff, Founding Director, Center on Global Energy Policy; Professor, Columbia SIPA; Professor and Co-Founding Dean Emeritus, Columbia Climate School
8:40 a.m.
Fireside Chat with Lynn Good
Moderator- Daniel Yergin, Vice Chairman, S&P Global
- Lynn Good, Chair and Chief Executive Officer, Duke Energy
9:10 a.m.
Driving the Energy Transition in Emerging and Developing Countries
Emerging markets and developing economies (EMDEs) need roughly $2.4 trillion annually by 2030 to stay on track to meet global climate goals. However, these countries remain heavily reliant on public financing and funding from multilateral development banks to develop the infrastructure needed to accelerate the energy transition. This panel will focus on the investment challenges facing EMDEs, and the challenges that financial institutions funding the energy transition in EMDEs are encountering while investing in sustainable, profitable, and equitable clean energy projects globally.
Moderators- Akshat Rathi, Senior Climate Reporter, Bloomberg
- Damilola Ogunbiyi, CEO of Sustainable Energy for All , Special Representative, UN Secretary-General for Sustainable Energy for All, and Co-Chair, UN-Energy
- Avinash Persaud, Special Advisor on Climate Change to the President, Inter-American Development Bank
- Samaila Zubairu, President and CEO, Africa Finance Corporation
10:05 a.m.
Fireside Chat with Thomas E. Donilon
Moderator- Jason Bordoff, Founding Director, Center on Global Energy Policy; Professor, Columbia SIPA; Professor and Co-Founding Dean Emeritus, Columbia Climate School
- Thomas E. Donilon, Chairman, BlackRock Investment Institute; Former US National Security Advisor
10:35 a.m.
Financing a Clean Energy Future with Public and Private Capital
Recent historic investments and policy initiatives focused on energy infrastructure in the United States, Europe and throughout the world are shaping how the private sector will work to meet global decarbonization goals. This panel will focus on how investors and financiers are assessing and funding the development of clean energy projects, and headwinds and tailwinds facing the private sector in utilizing this funding to develop the infrastructure needed for the clean energy transition.
Moderator- Amy Harder, Executive Editor, Cipher
- David Foley, Senior Managing Director in the Private Equity Group and Global Head of Blackstone Energy Partners, Blackstone
- Karen Karniol-Tambour, Co-Chief Investment Officer, Bridgewater Associates
- Sarah Ladislaw, Special Assistant to the President, NSC Senior Director for Climate and Energy
- Vera Songwe, Chair and Founder of the Liquidity and Sustainability Facility
11:15 a.m.
Addressing Energy Insecurity at Home
Each year, millions of households across the United States experience some form of energy insecurity, with people of color and economically disadvantaged communities being disproportionately impacted by current energy systems shortcomings. This panel will focus on the intersection of energy and poverty, the rural and urban communities most affected by energy insecurity, and the policy solutions that can address inequality and bring the benefits of a clean energy economy throughout the United States.
Moderator- Somini Sengupta, International Climate Reporter, The New York Times
- Shalanda H. Baker, Director of the Office of Energy Justice and Equity, U.S. Department of Energy
- Kate R. Finn, Executive Director, First Peoples Worldwide
- Doreen Harris, President and CEO, NYSERDA
Lunch
1:00 p.m.
The Diplomacy and Geopolitics of the Energy Transition
Long simmering geopolitical tensions have unraveled into military conflicts, involving some of the great powers and some key regions in the global energy industry. These conflicts have complicated diplomatic dynamics and directly brought energy security to the forefront of dialogues needed to accelerate the clean energy transition. This panel will focus on these evolving diplomatic and geopolitical dynamic tensions, and their significant impact on global energy markets, energy security, international climate negotiations, and the energy transition.
Moderators- Carlos Pascual, Sr. Vice President Geopolitics and International Affairs, S&P Global Commodity Insights
- Selwin Hart, Special Adviser to the Secretary-General on Climate Action and Just Transition
- Sir Stephen Lovegrove, Former National Security Adviser, United Kingdom
- Jennifer Morgan, State Secretary and Special Representative for International Climate Action Federal Foreign Office of Germany
- Mari Elka Pangestu, Former Minister of Trade, Former Minister of Tourism and Creative Economy, Indonesia
1:40 p.m.
Fireside Chat with John Podesta
Moderator- Jason Bordoff, Founding Director, Center on Global Energy Policy; Professor, Columbia SIPA; Professor and Co-Founding Dean Emeritus, Columbia Climate School
- John Podesta, Senior Advisor to the President for International Climate Policy
2:10 p.m.
Navigating Turbulence in the Energy Sector
The rapidly accelerating clean energy transition has created challenges for both established and emerging energy companies as they navigate an increasingly turbulent future. This panel will focus on how leading energy companies and industries are addressing challenges, such as an influx of public capital and policy incentives, the rising cost of private capital, evolving disruptive market dynamics, and regulatory and policy issues created as a result of the demands of the energy transition.
Moderator- Vijay Vaitheeswaran, Global Energy & Climate Innovation Editor, The Economist
- Henrik Andersen, CEO, Vestas
- Mary Landrieu, Senior Policy Advisor, Van Ness Feldman, LLP
- Scott D. Sheffield, CEO, Pioneer Natural Resources
- Lorenzo Simonelli, Chairman and CEO, Baker Hughes
3:05 p.m.
Where Energy Infrastructure, Trade, and Industrial Policy Meet
A rise in green industrial and infrastructure policies globally has served as both a leading example of climate action while also re-surfacing decades-old conversations surrounding free and open international trade. This panel will focus on the growing tensions between the need for new energy infrastructure, the pull of green industrial policies, rising national security concerns in an era of Great-Power Competition, and the challenges of navigating protectionism and rising government intervention in trade policy.
Moderator- Shannon K. O’Neil, Vice President, Deputy Director of Studies, and Nelson and David Rockefeller Senior Fellow for Latin America Studies, Council on Foreign Relations
- William J. Berger, CEO, Sunnova Energy International, Inc.
- Sarah Bianchi, Senior Managing Director and Chief Strategist of International Political Affairs and Public Policy, Evercore
- Matthew Harris, Founding Partner, Global Infrastructure Partners, Board Chair, CGEP Advisory Board
- Luis Alberto Moreno, Former President, Inter-American Development Bank
3:45 p.m.
Decarbonizing Electricity in an Era of Rising Demand
As power demand continues to rise, challenges remain in meeting demand reliably while responding to increased calls for cleaner energy. This panel will focus on how domestic and global power providers and developers are working with industry to meet rising demand while accounting for clean energy goals, how the private sector is innovating in the development and deployment of new clean energy technologies, and how to rethink the existing energy infrastructure as we enter an era of rising demand.
Moderator- Justin Worland, Senior Climate Correspondent, TIME
- Pedro Pizarro, President and CEO, Edison International
- Maria Pope, President and CEO, Portland General Electric
- Sumant Sinha, Founder, Chairman and CEO, ReNew
- Scott Strazik, CEO, GE Vernova
BloombergNEF Summit: New York
The BNEF Summit provides the ideas, insights and connections to formulate successful strategies, capitalize on technological change and shape a cleaner, more competitive future.
Tuesday, 16 April 2024
07:45
Registration and Networking Breakfast
Connect, network, and do business with fellow industry executives at the BNEF Hub and in the networking area. You can schedule 1-1 meetings via the BNEF Summit App.
09:00
Welcome Address by Bloomberg LP’s Founder- Michael Bloomberg, Founder, Bloomberg LP and Bloomberg Philanthropies, UN Special Envoy on Climate Ambition and Solutions
09:05
BNEF Talk: The Energy Transition: Think Fast and Slow- Jon Moore, Chief Executive Officer, BloombergNEF
09:20
Welcome- Dana Perkins, Host, Bloomberg Switched On Podcast, Summit Anchor, BloombergNEF
09:30
Policy Dialogue | Positioning America to Thrive in a Carbon Free 21st Century
The Inflation Reduction Act and Bipartisan Infrastructure Law have created a unique window of opportunity for the US to align industry and society in pursuit of a low-carbon economy. In this one-on-one with DoE Under Secretary for Infrastructure David Crane, we will discuss the choices policymakers face to ensure that public money unlocked by this legislation is spent in a way that is efficient, just and has a lasting impact on America’s energy transition.
Under Secretary Crane will also share some findings from the Innovative Grid Deployment: Pathways to Commercial Liftoff report which has just been launched.
- David Crane, Under Secretary of Energy for Infrastructure, United States Department of Energy
- Thomas Rowlands-Rees, Head of North America Research, BloombergNEF
09:50
BNEF Talk: US Climate Policy in an Uncertain Political Landscape
During the Biden Presidency, the US government has made considerable progress in implementing policies to get on track to net zero, with the Inflation Reduction Act alone to bring over $370 billion in direct support for clean technologies. Internationally, these policies are also helping the US to cement its status as a leading manufacturer of low-carbon energy products and to push for bolder action in the global climate negotiations. However, with the federal election after 1.5 years of the IRA, what are the implications of the potential political shifts for the US climate transition? Where are the risks and opportunities for companies and investors? And could a change of administration in the US jeopardize the global energy transition?
- Victoria Cuming, Head of Policy, BloombergNEF
10:05
Supply Chain Subsidies Echo Far and Wide
The Inflation Reduction Act’s many incentives have got a host of clean-tech manufacturers breaking ground in the US. A bulging pipeline of battery, solar and electrolyzer factories has sprung out of the ether. Manufacturers hail from across the world, bringing know-how and finance from East Asia to Europe. Investors are watching closely as multiple governments hammer out their own industrial strategies. What draws foreign manufacturers to the US? How much of today’s factory pipeline will get built? How is the IRA contributing to onshoring outside the US?
Moderator:- Antoine Vagneur-Jones, Head of Trade and Supply Chains, BloombergNEF
- Nigel Cockroft, U.S. General Manager, Jinko Solar
- Art Fletcher, Head of the Domestic Content & Illuminate Business Unit, Invenergy
- Scott Moskowitz, Senior Director of Market Strategy and Industry Relations, Qcells North America
- Rebecca Ward, Chief of Staff, Office of Manufacturing and Energy Supply Chains, Department of Energy
10:45
Networking Coffee Break
Connect, network, and do business with fellow industry executives at the BNEF Hub and in the networking area. You can schedule 1-1 meetings via the BNEF Summit App.
11:15
Executive Dialogue | Utilities Are at the Heart of the Energy Transition
US utilities lie at the forefront of a decarbonizing power system, striving to scale renewables and grids to meet their customers’ net-zero ambitions, as well as state and federal targets. But the path to carbon neutrality won’t be smooth. Siting and permitting challenges have lengthened project timelines, while electricity demand – which has long been flat or declining across the US – is suddenly on the rise, propelled by data centers, manufacturing and electric vehicles. That’s without mentioning the additional complication of more frequent and severe natural disasters.
Join us in dialogue with leading US utility executives as we explore how they are navigating changing consumption patterns, grid connection and permitting backlogs and securing the capital needed to reach net zero.
Moderator:- Meredith Annex, Head of Clean Power, BloombergNEF
- Justin Driscoll, President & Chief Executive Officer, NYPA
- Kristina Lund, President, Pattern Energy
- Pedro Pizarro, President & Chief Executive Officer, Edison International
11:50
Partner Spotlight: Google- Amanda Peterson Corio, Global Head of Data Center Energy, Google
11:55
Policy Dialogue | Advancing US Domestic and International Policy Opportunities Within the Energy Transition- John Podesta, Senior Climate Advisor to the President of the United States
- Annmarie Hordern, Co-anchor of Bloomberg Surveillance and Political Correspondent, BloombergTV
12:20
Networking Lunch
Connect, network, and do business with fellow industry executives at the BNEF Hub and in the networking area. You can schedule 1-1 meetings via the BNEF Summit App.
12:20
Barclay Salon 1
Accessing & Scaling Energy Innovation
Themed Lunch Hosted by Chevron
What are the hurdles in identifying important energy innovations in need of support? How can the potential to scale economically be assessed early in development? What are the challenges to scaling energy innovation, and how can industrial companies partner with the early-stage ecosystem to scale affordable, reliable and ever-cleaner energy solutions?
Lunch will be served in the Barclay Salon Pre-function area.
Moderator:- Stephanie Diaz, Associate, Technology and Innovation, BloombergNEF
- Jim Gable, Vice President of Innovation & President of Technology Ventures, Chevron
12:20
Barclay Salon 2
Building Demand for Advanced Clean Electricity Technologies
Themed lunch hosted by Google
Advanced clean electricity technologies like next-generation geothermal, advanced nuclear, clean hydrogen, and long-duration energy storage (LDES) are critical for grid decarbonization, but face a number of barriers to commercial deployment. Join Google, Microsoft and Nucor to learn about their new initiative to aggregate demand for these technologies and accelerate their commercialization by the early 2030s.
Lunch will be served in the Barclay Salon Pre-function area.
Moderator:- Kyle Harrison, Head of Sustainability Research, BloombergNEF
- Michelle Chang, Program Manager for Decarbonization Technologies, Google
- Chad Eaton, Director of Government Affairs, Nucor Corporation
- Taylor Leyden, Senior Program Manager, Renewable Energy, Microsoft
12:20
Morgan
The Future of Renewable Energy Investment and Tax Credit Transfers
Themed Lunch Hosted by Schneider Electric
The US Inflation Reduction Act has mobilized well over $100 billion in climate and energy-related investments since its passage a year and a half ago. Central to the law’s efficacy is a clause allowing organizations to transfer eligible federal tax credits for green energy projects.
This session will spotlight Schneider Electric’s recent tax credit transfer agreement with ENGIE North America. Learn about this evolving partnership, tax credit transfer eligibility requirements, and how these transfers can help public and private entities accelerate renewable energy procurement, reduce Scope 2 emissions and capture favorable risk-adjusted returns on investment.
Lunch will be served in the room.
Moderator:- Derrick Flakoll, Policy Associate, North America, BloombergNEF
- Sarah Kiriluk, Head of Acquisitions, Investment & Financial Advisory, ENGIE North America
- John Powers, Vice President, Global Renewable Energy & Carbon Advisory, Schneider Electric Sustainability Business
13:20
BNEF Talk: Scaling Investment in the Next Wave of Climate Technologies: A How-To Guide
There are many exciting climate technologies waiting to scale. But financing of them, particularly for hard-to-abate sectors, is proving difficult. This talk will provide a framework to help identify strategies to make first of a kind projects more bankable.
- Claire Curry, Head of Technology, Industry & Innovation, BloombergNEF
13:35
Partner Spotlight: Runergy- Bing Yu, Global Marketing Director, Runergy
13:40
Policy Dialogue | Climate Action and the US Treasury
The US Department of the Treasury holds the keys to implementation of major portions of the Inflation Reduction Act, in particular through its work on tax credit guidance. The institution also plays an important role in US efforts to drive global climate action through international collaboration and partnership. This conversation with Climate Counselor Ethan Zindler will focus on how to unblock and accelerate progress on climate and energy transition, both domestically and internationally.
- Ethan Zindler, Climate Counselor, US Department of Treasury
- Albert Cheung, Deputy Chief Executive Officer & Head of Global Transition Analysis, BloombergNEF
14:00
Innovation Forum: Decarbonizing the Construction and Operation of Buildings
Come hear from early-stage companies aiming to revolutionize the buildings sector. This innovation forum will feature leading companies working on new kinds of heat pumps, new building materials, new building designs, and platforms for accelerating the deployment of clean thermal conditioning systems or demand-side innovations.
- Marshall Cox, Founder & Chief Executive Officer, Kelvin
- Johnny Fry, Country Manager, Celsius Energy
- Amit Gupta, Chief Executive Officer, Aeroseal
- Stephanie Diaz, Associate, Technology and Innovation, BloombergNEF
14:30
Networking Coffee Break
Connect, network, and do business with fellow industry executives at the BNEF Hub and in the networking area. You can schedule 1-1 meetings via the BNEF Summit App.
15:00
BNEF Talk: Future-Proofing Battery Supply Chains in North America
Governments the world over are acting to reduce risks across the lithium-ion battery supply chain. This talk will take stock of their efforts to date, and explore how North America can best unlock its battery-making potential.
- Ellie Gomes-Callus, Associate, Metals and Mining, BloombergNEF
15:15
Leveraging Largest-Ever Grid Investment to Enhance Resilience
In October 2023, the utility industry received one of the largest federal grants and financing amounting to $3.5 billion, with the anticipation of a second funding cycle in 2024. The funding is part of a broader effort of permitting reforms and grid enhancements to boost resilience and accelerate the integration of renewables across the US. Meanwhile, Independent System Operators across the US are now advancing billions in transmission projects, showing a shift to a more proactive approach. Are we achieving the desired level of progress? What can we anticipate post-2024 if funding decreases or is removed? How can we deploy funding effectively and which technologies can expedite progress toward achieving net zero in the US?
Moderator:- Felicia Aminoff, Associate, Grids and Utilities, BloombergNEF
- Richard Dewey, President & Chief Executive Officer, NYISO
- Angelina Galiteva, Chair, Board of Governors, CAISO
- Rohan Kelkar, Executive Vice President, Global Power Products, Schneider Electric
- Maria Robinson, Director, Grid Deployment Office, Department of Energy
15:55
New Paradigm for Offshore Wind Projects
The US offshore wind industry is grappling with challenges such as increasing capital costs, inflation, supply-chain constraints and uncertain tax credits, leading to project setbacks and cancellations. Despite the challenges, projects are still being initiated, and developers are contemplating project recalibration, bringing in a new paradigm for the industry. What lies ahead for offshore wind in the US? How does the US offshore wind market distinguish itself from other global regions? Is this a unique scenario for the US offshore market and where can opportunities be identified to expedite market growth?
Moderator:- Atin Jain, Senior Associate, Wind, BloombergNEF
- Morten Dyrholm, Global Senior Vice President, Vestas Wind Systems
- David Hardy, Group Executive Vice President & Chief Executive Officer, Americas Region, Ørsted
- Doreen Harris, President & Chief Executive Officer, New York State Energy Research and Development Authority
16:25
Closing Day 1
- Dana Perkins, Host, Bloomberg Switched On Podcast, Summit Anchor, BloombergNEF
16:30
Networking Coffee Break
Connect, network, and do business with fellow industry executives at the BNEF Hub and in the networking area. You can schedule 1-1 meetings via the BNEF Summit App.
17:00
Deep-Dive Sessions – Choose Your Track
17:00
Barclay Salon 1
Track 1: Power
Optimizing Revenue for Renewable Energy Projects
Power price cannibalization and curtailment are increasingly common for onshore renewable energy projects in key US markets like Caiso, Ercot and MISO. The impacts are already evident in major US markets where renewable energy penetration levels exceed system demand on a more frequent basis. On top of this, rising renewables is leading to more curtailment both for economic reasons and due to system congestion. How are developers rethinking the revenue streams for their projects in this changing environment? What role do power purchase agreements play in a market with more-frequent negative power prices? What do future natural gas prices mean for the viability of these projects and how does exposure to specific power nodes affect site selection or asset value? How do these various factors around revenue impact equity owners in a higher-interest rate environment?
Moderator:- Pol Lezcano, Senior Associate, Solar, BloombergNEF
- Egbert De Groot, Senior Vice President, Mergers and Acquisition and Offtake origination, Boralex
- Nuno Dias Andrade, Managing Director and Head of Global Debt Finance US, Santander Bank N.A.
- John Larkey, Vice President of Power Marketing, National Grid
- Stephen Pike, Head of Enel Green Power North America, Enel Green Power North America
- Javier Rico, Solar Associate, BloombergNEF
17:00
Barclay Salon 2
Track 2: Finance
Challenges and Opportunities in Sustainable Finance Under a Polarized Landscape
Sustainable finance markets have been cannon fodder in a supercharged political and economic environment, both in the US and globally. Sustainable debt levels have stalled due to high interest rates and companies ducking greenwashing accusations. Some 18 states have passed “anti-ESG” laws across the US, limiting the sustainable investing remit of asset managers and pension funds. What does 2024 – an election year across many parts of the world and an expected period of economic stabilization – hold for the future of sustainable finance markets?
Moderator:- Jameson McLennan, Sustainable Finance Analyst, BloombergNEF
- Chris Ailman, Chief Investment Officer, CalSTRS
- Steven Rothstein, Founding Managing Director, Ceres Accelerator for Sustainable Capital Markets
- Valerie Smith, Managing Director and Chief Sustainability Officer, Citi
17:00
Morgan
Track 3: Technologies
Long-Duration Energy Storage: Is it Now or Never?
In 2023, the US led in long-duration energy storage (LDES) installations with 38% of global energy storage capacity, but slow project development and China’s growing dominance in the project pipeline may soon leave the US’s leadership behind. Lithium-ion batteries connected to the grid will soon surpass pumped hydro storage in the US, raising questions about whether there is space for other technologies to flourish. Considering lithium-ion battery’s consolidation and supply chain dominance, especially for durations up to 12 hours, will alternative technologies become irrelevant? These technologies need to scale with realistic cost and growth targets that are able to keep them afloat and able to compete with lithium-ion batteries within this decade. This session will discuss how that may be achieved and what technologies are suitable beyond 12 hours. And can the US lead in LDES?
Moderator:- Yiyi Zhou, Clean Power Specialist, BloombergNEF
- Kate Howling, Senior Consultant, Department of Energy Loan Programs Office
- Gabe Murtaugh, Director of Markets and Technology, LDES Council
- Roxanne Tully, Principal, Piva Capital
- Curtis Vanwalleghem, Co-Founder & Chief Executive Officer, Hydrostor
18:00
Networking Reception
Connect, network, and do business with fellow industry executives at the BNEF Hub and in the networking area. You can schedule 1-1 meetings via the BNEF Summit App.
Energy Sources for the U.S. Insular Areas
On Thursday, April 11, 2024, at 2:00 p.m., in room 1324 Longworth House Office Building, the Subcommittee on Indian and Insular Affairs will hold an oversight hearing titled “Energizing the Territories: Promoting Affordable and Reliable Energy Sources for the U.S. Insular Areas.”
Oversight of the U.S. Food and Drug Administration
Full committee hearing.