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- Written by: Lake County News Reports
The Index now stands at 92.6 (1985=100), down from 98.3 in June.
The Present Situation Index – based on consumers’ assessment of current business and labor market conditions – improved from 86.7 to 94.2.
However, the Expectations Index – based on consumers’ short-term outlook for income, business, and labor market conditions – decreased from 106.1 in June to 91.5 this month.
The monthly Consumer Confidence Survey, based on a probability-design random sample, is conducted for The Conference Board by Nielsen, a leading global provider of information and analytics around what consumers buy and watch. The cutoff date for the preliminary results was July 17.
“Consumer Confidence declined in July following a large gain in June,” said Lynn Franco, senior director of economic indicators at The Conference Board. “The Present Situation Index improved, but the Expectations Index retreated. Large declines were experienced in Michigan, Florida, Texas and California, no doubt a result of the resurgence of COVID-19. Looking ahead, consumers have grown less optimistic about the short-term outlook for the economy and labor market and remain subdued about their financial prospects. Such uncertainty about the short-term future does not bode well for the recovery, nor for consumer spending.”
Consumers’ assessment of present-day conditions improved in July. The percentage of consumers claiming business conditions are “good” was relatively unchanged at 17.3 percent, while those claiming business conditions are “bad” decreased from 42.5 percent to 39.1 percent. Consumers’ appraisal of the job market was more favorable. The percentage of consumers saying jobs are “plentiful” increased from 20.5 percent to 21.3 percent, while those claiming jobs are “hard to get” decreased from 23.3 percent to 20.0 percent.
Consumers, however, were less optimistic about the short-term outlook. The percentage of consumers expecting business conditions will improve over the next six months declined from 42.4 percent to 31.6 percent, while those expecting business conditions will worsen increased from 15.2 percent to 19.3 percent.
Consumers’ outlook for the labor market was also less favorable. The proportion expecting more jobs in the months ahead declined from 38.4 percent to 30.6 percent, while those anticipating fewer jobs in the months ahead increased from 14.4 percent to 20.3 percent.
Regarding their short-term income prospects, the percentage of consumers expecting an increase was relatively unchanged at 15.1 percent, while the proportion expecting a decrease rose from 14.1 percent to 15.0 percent.
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- Written by: Lake County News Reports
In addition to CDFA and CARB, staff from USDA Natural Resources Conservation Service will also participate in the workshop.
CDFA’s Healthy Soils Program provides financial incentives to Californian growers and ranchers to implement conservation management practices that sequester carbon, reduce atmospheric greenhouse gases, and improve soil health.
The Environmental Farming Act Science Advisory Panel, which advises the Healthy Soils Program, has received several proposals to expand this program with the support of partners in the private sector.
“There is tremendous interest in supporting farmers who are implementing practices to build soil organic matter to sequester carbon and improve drought and climate resiliency,” said CDFA Secretary Karen Ross. “This is a perfect time to explore how we develop a framework to coordinate private sector efforts that align with the CDFA and NRCS cost-share programs to greatly expand the number of acres participating in incentive programs.”
The framework would act as a roadmap for organizations that have already expressed interest in partnering with the state to invest in healthy agricultural soils as well as organizations that may be interested in doing so in the future.
“The Healthy Soils program serves both the interests of California’s world-leading agriculture industry and the state’s efforts to limit the worst impacts of the climate change we are already experiencing,” said CARB Chair Mary D. Nichols. “We encourage potential private partners to get involved.”
The development of this framework will take place over the course of three workshops. The first workshop will include the purpose and goals of this effort and presentations from CDFA, USDA NRCS, and CARB about existing healthy soils grant programs and greenhouse gas emissions quantification methodology. The second and third workshops will focus on framework development within the context of these existing programs.
“We are excited to be working with CDFA and CARB in this effort to expand and coordinate healthy soils practices in California,” added NRCS State Conservationist Carlos Suarez. “Many of our Farm Bill resources also target soil health, water quality and quantity, as well as air quality. Working with public and private partners to coordinate activities, avoid duplication, and take advantage of each partner’s unique capabilities makes dollars go further and conservation efforts more effective.”
The workshops will be held via webinar and the agenda can be found on the Healthy Soils Initiative website. Participants must register in advance for workshops on the following dates:
July 29, 10 a.m. – 11:30 a.m. PT
https://attendee.gotowebinar.com/register/8780500156449191436
Aug.17, 8 a.m. – noon PT
https://attendee.gotowebinar.com/register/3125530435378672140
Sept. 1, 8 a.m. – noon PT
https://attendee.gotowebinar.com/register/1975611697027301388
There will be a written comment period on the development of the framework. Questions and comments should be submitted to
Questions and corresponding answers will be posted on the CDFA webpage shortly thereafter.
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- Written by: Lake County News Reports
With hundreds of climate-related insurance products already available to consumers and businesses, the California Department of Insurance has developed this database to help the public understand and access these products and encourage further insurance policy innovation in commercial, homeowners and auto lines, among other lines.
Recognizing the potential for specific insurance products to address climate risks and contribute to a sustainable future will encourage consumers and insurance companies to explore products that harness new technologies and promote resilience.
“Understanding, preventing, and reducing climate risk is of paramount importance, and we need innovative insurance solutions to accelerate the transition to sustainable and resilient communities and economies,” said Commissioner Lara. “When disaster strikes, insurance can help damaged homes, buildings, and vehicles be built back better, stronger, and greener and springboard into the cleanest technologies.”
The Climate Smart database lists more than 400 products currently available to consumers and businesses that address climate risks, harness new technologies, and build resilience.
They include insurance products and solutions that, among other products:
– Provide green-rebuild coverage, providing a pathway to building back stronger, more energy-efficient, and lower-emission buildings and vehicles;
– Promote fuel-efficiency by offering lower premiums for low-emission vehicles;
– Provide discounts for green energy use and energy efficiency certification;
– Provide discounts for businesses who operate hydrogen and hybrid electric buses;
– Protect low-income communities and natural ecosystems.
A June 1, 2020, report from the environmental nonprofit group Ceres recommends the development of a database of innovative insurance products that reduce emissions or increase resiliency.
"California Commissioner Lara and his team at the California Insurance Department deserve great credit for creating the Climate Smart Insurance Products Database,” said Steven M. Rothstein, managing director of the Ceres Accelerator for Sustainable Capital Markets. “This is part of a comprehensive insurance approach to climate risks. This database is a critical building block for a more sustainable future."
The database is another element in Commissioner Lara’s strategy to combat climate change. Last year, Commissioner Lara announced an agenda-setting effort with the United Nations to create a Sustainable Insurance Roadmap, a comprehensive climate change strategy and action plan that is envisioned to pave the way for innovative risk management, insurance, and investment solutions that reduce climate risks and protect natural ecosystems.
“One of the United Nations’ Principles for Sustainable Insurance promotes the aim of insurers working together with governments, regulators and other stakeholders in promoting widespread action on sustainability issues, and Commissioner Lara is showing us what regulators can actively do to make that happen and drive innovation,” said Butch Bacani, who leads UN Environment Programme’s Principles for Sustainable Insurance Initiative (PSI), the largest collaboration between the UN and the insurance industry. “With this pioneering database, Commissioner Lara is demonstrating sustainability leadership, and we hope that other regulators will step up to the plate and lead by example.”
Commissioner Lara previewed the database on July 8, 2020, at an international virtual event convened by the UN PSI and Swiss Re on sustainability leadership in insurance, which attracted more than 700 participants from over 60 countries.
In addition to working with the UN, California will be collaborating with Washington State Insurance Commissioner Mike Kreidler to build on this innovative database.
California and Washington State have been working together with the UN Environment Programme as members of the PSI as well as the Sustainable Insurance Forum for regulators.
“I applaud Commissioner Lara and the California Insurance Department’s thoughtful initiative to make the full range of existing climate-related insurance products available to consumers and businesses,” said Commissioner Kreidler. “Providing this innovative access to these products encourages communication between policyholders and their insurers, and will no doubt lead to new ideas and more refined climate-related insurance products going forward.”
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- Written by: Lake County Association of Realtors
Realtors are often one of the most engaged groups in their communities given their knowledge of the local areas they serve and the lasting relationships they create in those communities.
Lake County real estate agents and brokers continue to use this opportunity to give back.
“Our local Realtors are always there for our community, whether holding fundraisers for scholarships for the graduating seniors from our six Lake County High Schools, volunteering on boards, raising money and distributing Thanksgiving meals, participating in coat drives or giving donations to local charities," said Lake County Association of Realtors President Heidi Johnson, owner of Johnson Realty.
“We take seriously our responsibility to our community. This year we are donating the funds that would have been used for our annual Open House Extravaganza which was cancelled due to the pandemic. The Lake County Association of Realtors is paying it forward by donating $1,000 to Meals on Wheels and $1,000 to the Lake County Gleaners, both of which provide food to people in need,” Johnson added.
Like much of the community, Realtors who are independent contractors were heavily impacted by the state and local stay-at-home orders during what is typically our busiest time of year due to the pandemic home sales were stalled.
It has been a difficult few months for everyone but LCAOR said it is seeing listings quickly moving into contract with a big surge of buyers.
More homes have sold in June of 2020 than the same time period for last year. The group said it is optimistic the trend will continue and that fellow community members will see the same rebound.
“We know how hard Californians are working to keep our state safe, to keep our lives moving, to keep our sights focused on building a better future,” said California Association of Realtors President Jeanne Radsick. “I’m inspired every day by the kinds of stories I hear of healthcare workers, first responders and grocery clerks being there for their communities during this time of great need.”