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What's New

February 3, 2020

February 12th: The Permanent Fund’s Alaska Investment Program

Date:

February 12th, 2020

Time:

Noon-1pm

Location:

Petroleum Club of Anchorage 3301 C St.

The Permanent Fund’s

Alaska Investment Program

February 12^th

12:00pm-1:00pm

The Petroleum Club of Anchorage

3301 C Street

This program has sold out.

Video is available here.

Last year, the Alaska Permanent Fund Corporation announced the creation of a $200 million fund to expand infrastructure and create economic opportunities in Alaska. Barings LLC manages half of the fund with a focus on infrastructure and private credit. McKinley Capital Management LLC manages the other half with a focus on private equity.

On February 12th, Commonwealth North welcomes Allen Ruiz, Director of Alternative Investments at Barings, and John Wanamaker, Director of Private Investments at McKinley Capital Management, to describe their firms’ approaches to standing up these funds and seeking qualified in-state investments.

A subsidiary of MassMutual, Barings, LLC is a global investment firm dedicated to meeting the evolving needs of clients and customers. Headquartered in Charlotte, North Carolina, Barings LLC and its subsidiaries have $325 billion under management and maintain a strong global presence with business and investment professionals located across North America, Europe and Asia Pacific.

McKinley Capital Management, LLC was founded in 1990 and today is the largest private financial services company in Alaska. McKinley currently manages approximately $5 billion worldwide for corporate and public pension funds, sovereign wealth funds, and other institutional investors.

Table sponsorships available.

Contact the CWN office at (907) 258-9522 for details.

Please register in advance, contact CWN office at (907) 258-9522 to pay by phone.

January 29, 2020

February 5th Energy Action Coalition

Topics: Events

Energy Action Coalition

Climate Leadership Council’s Carbon Dividend Plan

with

Ryan Costello, Managing Director of Americans for Carbon Dividends

Catrina Rorke, Vice President of Research for the Climate Leadership Council

Wednesday, February 5th

Noon-1pm

Alaska USA Federal Credit Union

500 W 36th Avenue

room 201

Download the PowerPoint here.

The Climate Leadership Council is an international policy institute based in Washington, D.C. and was founded to promote a carbon dividends plan to incentivize significant reductions in carbon emissions.

They propose an economy-wide fee on CO² emissions starting at $40 a ton and increasing every year at 5% above inflation. They believe the plan could cut U.S. CO² emissions in half by 2035. All net proceeds from this fee would be paid as a dividend to Americans on a quarterly basis to help cover increased energy costs.

Additional details of their plan can be found here.

The Climate Leadership Council’s climate dividend has been featured by international press and is supported by prominent national policy leaders and major corporations. The purpose of this meeting is to understand the plan and its potential impact on Alaska. We are meeting next Wednesday to accommodate our guest speakers’ schedule as they visit Alaska to discuss their plan.

January 24, 2020

January 31st: Fiscal Policy Study Group

Topics: Events Fiscal

Fiscal Policy Study Group

Strategies for Inflation-Proofing the Permanent Fund

Craig Richards

Chair of the Alaska Permanent Fund Corporation Board of Trustees

Friday, January 31st

8am-9am

BP Energy Center

900 E. Benson Blvd.

(Map)

Building opens at 7:45am

Craig will discuss the Permanent Fund’s efforts to optimize the fund to provide a sustainable POMV payment structure and continue our discussion on strategies for inflation-proofing the fund.

Click here for the handout on APFC History and Projections.

(Google Map)

January 23, 2020

January 24th: Energy Action Coalition

Energy Action Coalition

ANWR Working Group

Friday, January 24th

Noon-1pm

Alaska Communications Business Technology Center

600 E 36th Avenue

(Next to the Pita Pit)

Join us for a work session to discuss the latest developments regarding lease sales in ANWR.

You may be interested in reviewing CWN’s 1989 report, “An Alaskan View of ANWR“. It includes a board resolution and that supported oil and gas development in the 1002 Area. We realize some of the data in the document may be dated, but the report still represents a valuable perspective from the committee’s 24 month study.

Click for Google Map

January 14, 2020

January 17th – Energy Action Coalition

Topics: Energy Events

Energy Action Coalition

Willow Solar Farm Project

with

Jenn Miller, CEO

Chris Colbert, CFO

Renewable IPP, LLC

Friday, January 17th

Noon-1pm

Alaska USA Federal Credit Union

500 W 36th Avenue

room 201

The PowerPoint presentation can be downloaded here.

Join us for a briefing on the Willow Solar Farm Project. The facility is a 1.2 Megawatt facility consisting of 3,240 solar panels and is the largest solar project in Alaska.

Click here for an article about the project in the Alaska Journal of Commerce.

January 13, 2020

January 17th: Fiscal Policy Study Group

Topics: Events Fiscal

Fiscal Policy Study Group

with

Senator Natasha von Imhof

Representative Jennifer Johnston

Alaska Housing Finance Corporation

4300 Boniface Pkwy

Last Friday ISER Director Ralph Townsend gave a thought-provoking presentation on the policy options and implications for use of Permanent Fund earnings. Of particular interest is the impact that inflation-proofing the fund may have on Fund earnings available in future years. This Friday Rep. Jennifer Johnston, House Finance Committee co-chair, and Sen. Natasha von Imhoff, Senate Finance Co-Chair will join the group to continue this discussion and to share the Legislature’s perspective and considerations on this important policy option.

(Google map)

January 10, 2020

January 15th Governor Mike Dunleavy

Topics: Events Fiscal

Date:

January, 15th, 2020

Time:

noon-1pm

Location:

Petroleum Club of Anchorage 3301 C St.

Join CWN for lunch with Governor Mike Dunleavy

Wednesday, January 15th

Noon-1pm

The Petroleum Club of Anchorage

3301 C Street

(doors open at 11:45am)

This program has sold out.

Watch video of the event.

Join us for lunch and a conversation with Governor Mike Dunleavy. As the 2020 legislative session approaches, this will be an opportunity for him to reflect on his proposed budget and the upcoming session.

Advance registration required, contact CWN office at (907) 258-9522 to pay by phone.

January 7, 2020

January 10th: Energy Action Coalition

Topics: Energy Events

Energy Action Coalition

Reducing the Cost of Energy in Alaska

with Curtis Thayer, Executive Director

Alaska Energy Authority

Alaska USA Federal Credit Union

500 W. 36th Ave, Room 201

Noon – 1 p.m.

His PowerPoint presentation can be downloaded here.

(Google Map)

January 7, 2020

January 10th: Fiscal Policy Study Group

Topics: Events Fiscal

Fiscal Policy Study Group

Inflation-proofing, the POMV draw, and the Earnings Reserve:
Understanding the Interconnections

with Professor Ralph Townsend, Director of ISER

BP Energy Center
8am-9am

Building opens at 7:45am

The PowerPoint presentation can be downloaded here.

In 2018, the Legislature passed SB 26 which established a “percent of market value” (POMV) which defines and limits how much will be transferred each year from the Permanent Fund’s Earnings Reserve to the state for the operating budget (including the amount for the Permanent Fund Dividend.) The amount in the Earnings Reserve will fluctuate, so it must be effectively managed in order to reduce the risk that the POMV could not be paid in some future year.

The Alaska Permanent Fund Corporation commissioned analyses to model the probability that the Earnings Reserve would not have sufficient funds to pay the POMV formula in the future. One analysis concluded that the Earnings Reserve should have $12 billion as a minimum to minimize the risk of not being able to pay the POMV.

Ralph’s presentation will explore how inflation proofing the Permanent Fund interacts with the goal of managing the Fund’s Earnings Reserve in order to maintain a sustainable annual draw.

Click for map

December 13, 2019