A new flight of large-scale climate projects requiring financial backing of about $1 trillion a year will be needed to meet the Biden administration’s carbon goals, a U.S. Energy Department official said in a presentation on Thursday. “The pace at which we are deploying climate solutions is wholly unacceptable,” said Jigar Shah, director of the Loan Programs Office at a virtual panel organized by IHS Markit as part of its CERAWeek conversations series. The Biden administration has set a goal to reach 100% carbon pollution-free electricity by 2035. The U.S. Energy Department’s Loan Programs Office is intended to provide funding to emerging green technologies that may not qualify for financing from commercial banks. “At some point we can hand it off to Wall Street […]