Climate change helped fuel the deadly fires that prompted California’s largest power company to announce Monday that it would file for bankruptcy in the face of $30 billion in potential liabilities.
In a grim twist, the bankruptcy of PG&E Corp. could now slow California’s efforts to fight climate change.
The Golden State has dramatically reduced planet-warming emissions from the electricity sector, largely by requiring utilities to increase their use of solar and wind power and fund energy efficiency upgrades for homes and businesses. Lawmakers recently set a target of 100% climate-friendly electricity by 2045.
But those government mandates have depended on PG&E’s Pacific Gas & Electric unit and other utilities being able to invest tens of billions of dollars in clean energy technologies.View Article