Netflix supports the Clean Electricity program in the U.S. Budget Reconciliation Bill
By Victoria Furniss, VP Global Public Policy, and Emma Stewart, Ph.D., Sustainability Officer, Netflix
Already, around the world, 21% of major utilities by revenue have joined the UN’s RaceToZero, demonstrating how rapid decarbonization of the power sector is good for business. It’s time for U.S. utilities to seize this opportunity. So we at Netflix are pleased to see the Clean Electricity Performance Program (CEPP, previously “Clean Electricity Standard”) approved by the U.S. House of Representatives Energy & Commerce Committee and have signed this public letter of support.
Right now, to meet our Net Zero by 2022 target, we must go utility-by-utility to convince them to offer clean electricity where they don't already. Even though we are willing to pay a premium, in most locations our only option is to buy renewable energy credits due to a lack of utility-provided clean electricity. CEPP’s Zero Emissions Vehicle Infrastructure Buildout (Sec. 30441, 30442, 30443, 30444, and 30445) provision is essential to hitting near-term net zero emissions targets in the entertainment sector. We estimate that the CEPP will benefit the entertainment sector by bringing down the cost of reducing emissions by giving us access to clean electricity in all U.S. states.
The Clean Electricity Performance Program is a well-designed “carrot-forward” approach that financially rewards utilities for cleaning up their energy supply, allowing them to invest that money into worker paycheck protection, transmission upgrades, and other much-needed infrastructure modernization. We also like the fact that 100% of the grant must benefit customers, so households will pay less every month on their utility bill. According to a recent study by The Analysis Group, CEPP would contribute ~$900 billion and 7.7 million jobs to the US economy by 2021. A number of major utilities already publicly support the program.
In addition to the CEPP, the Clean Heavy-Duty Vehicles (Sec. 30101) and Diesel Emissions Reductions (Sec. 30105) provisions in the proposed Budget Reconciliation draft bill are key to hitting net zero emissions targets in the entertainment sector because Class 6, 7 and 8 trucks are essential TV and film production.
The urgency for climate policy could not be clearer. The latest IPCC report warns of the dire consequences of continued warming. Extreme weather events this summer in the United States and around the world illustrate the growing human and economic costs of inaction. These impacts are already falling hardest on low-income communities and communities of color, many of whom are our members. So the impact of the U.S. Congress’s decisions in the coming weeks cannot be overstated.
Founder, Change Through Play - Training & Facilitation with Improvisation and Theater
2yYou support it?!? Really? Because Netflix’s Chief Content Officer and co-CEO, Ted Sarandos, is a member of the Business Roundtable, which is running advertisements to DEFEAT the legislation. Which means, frankly, that you're a fraud. What is the corporate response to this mixed message? Will your co-CEO comment on why he sits as a member of an organization that's actively fighting the very thing you claim to be supporting?
Founder and Chief Strategic Advisor at ClimateVoice
2yEmma Stewart, Ph.D. - will Netflix step up and support all the climate provisions in the reconciliation bill? And the pay-for provisions as well? It's a package - and we need them all. Your support for the CEPP is very welcome and helpful - but given the very strong and vocal opposition to most of the bill from the business sector, it's time for businesses to choose - support the bill, or let Big Oil and your big trade associations kill it.
Manager of products and partnerships. Passionate environmentalist + Good citizen of the planet.
2yfingers crossed:) are you doing gov policy stuff now?? that's awesome, we are past the point consumer lifestyle can do much. We need big change now!
The Clean Energy Marketer - Director of Marketing at Qcells USA
2yThis is a great article on CEPP Emma Stewart, Ph.D. , the demand from mandates around the US makes the adoption of clean energy sources by utilities nearly a sure thing, but I think what seals the deal is consumers are demanding their power come from clean sources. Instead of a runaway greenhouse effect, we need to flip it to get a runaway green energy effect. Do you think we can get the domino chain to fall in the next decade or two or will it take longer for utilities to catch on?
Great to see this.