Just this last May, Clean Energy Action held an impactful panel on the increasingly important topic of stranded assets. As we move away from coal and other less optimal energy production methods, we must consider what we are leaving behind in order to ensure this movement is in fact of the utmost benefit. Stranded assets in the fossil fuel sector are asset investments that no longer contribute to a company’s profitability; specifically, assets involved in the extraction or burning of the fuels themselves. This panel discussed the complex legal challenges surrounding the purchasing of these stranded assets from companies in order to preserve our slow-but-steady transition away from fossil fuels.
This fascinating and informative panel (which can be seen in its entirety here) was introduced and explained by Leslie Glustrom, co-founder of Clean Energy Action, with over 10 years of experience in Colorado’s energy field. She outlined the stranded asset issue, specifically geared towards the absurdity of Xcel Energy looking for its customers to pay for their stranded assets. Her contribution to the panel can be seen from the beginning until minute 25:20. The next panel speaker was Jacqui Patterson, who is the Director of the NAACP’s Environment and Climate Justice program. Ms. Patterson, with her extensive expertise, did a marvelous job in explaining how we start to tackle this complicated transition so that it is fair for the fossil fuel industry workers, as well as the individuals who pay the bills. Her presentation slides, titled “Energy Equity – Paving a Pathway to a Just Transition,” can be found here. In the video capture of the panel, her section can be seen from minute 25:20 to minute 50:40. The final panel participant was Mariel Nanasi, who is the Executive Director of New Energy Economy in New Mexico. Her portion of the panel focused on her organization’s recent successes in the realm of stranded asset decisions, and how these powerful examples of positive change can be used for future asset decisions in Colorado. Her expertise and awesome panel contribution can be seen from minute 50:40 to minute 1:17:20.
The panel disseminated impactful and important information and we implore you to watch the video, hit the hyperlinks, and do some research of your own about the tricky issue in the way of a complete, rapid, and just transition away from fossil fuels: stranded assets.