By Committing to 100% Clean Electricity by 2040, Minnesota Bolsters Its Role As Midwest Climate Leader

February 7, 2023 /3BL Media/ - Ceres celebrates Minnesota’s new law committing to 100% clean electricity by 2040, and thanks Gov. Tim Walz and state lawmakers for approving the ambitious measure that will transition the grid in a timely and responsible manner.

"As the clean energy transition accelerates in Minnesota, businesses and investors need certainty and clarity about the path forward to manage risk and plan ahead. This legislation provides just that by helping to guide Minnesota to a fully decarbonized electric grid that is powered by 100% zero-carbon resources by 2040 and ensuring the state meets its net zero by 2050 goal,” said Deana Dennis, senior manager of state policy, Ceres, a nonprofit that works across the U.S. with leading companies and investors to build a more sustainable economy and reduce the business risks of the climate crisis. “We applaud Gov. Walz and Minnesota legislators for seizing this historic moment by approving the 100% bill and bolstering the state’s position as a leader in building a cleaner, more prosperous, and more equitable economy."

Minnesota’s commitment to 100% clean electricity by 2040 is among the most ambitious state clean energy policies passed in the U.S. since the federal Inflation Reduction Act was approved by Congress last year. Strong state policies are critical for states to fully harness and benefit from the historic investments of the federal law, and to ensure the U.S. meets its climate goal of achieving a carbon pollution reduction of at least 50% by 2030. Additionally, the latest climate science suggests that in order to meet mid-century net zero goals, electric grids must be 100% clean by 2040, and this legislation puts Minnesota on track to meet that target.

Ceres has advocated for robust climate policies in Minnesota for years. This session, Ceres led meetings between companies and legislative leaders to showcase private sector support for climate and clean energy priorities. And in January, Ceres submitted a letter to leaders of the Minnesota House of Representatives and the Minnesota Senate in support of the 100% bill, arguing that the legislation was crucial to helping companies meet their own climate goals and to mitigate the economic risks of climate change.

Following its approval in the Minnesota House in January and the Minesota Senate last week, Gov. Walz signed the 100% bill into law today. Members of the Ceres policy team were invited and attended the signing ceremony at the St. Paul Labor Center.

Ceres is a nonprofit organization working with the most influential capital market leaders to solve the world’s greatest sustainability challenges. Through our powerful networks and global collaborations of investors, companies and nonprofits, we drive action and inspire equitable market-based and policy solutions throughout the economy to build a just and sustainable future. For more information, visit ceres.org and follow @CeresNews.

Media Contact: Helen Booth-Tobin, booth-tobin@ceres.org, 617-247-0700 ext. 214