The U.S. Climate Finance Working Group released its February 18, 2021 policy statement, “Financing a U.S. Transition to a Sustainable Low-Carbon Economy.” The Working Group comprises eleven of America’s leading financial-services industry associations, broadly representing “Wall Street.”
With climate-change initiatives among the top priorities announced by the new Biden administration, the Working Group
“seeks to engage with incoming leaders and members of Congress on a bipartisan basis to help establish a shared vision for U.S. climate policy. By so doing ...
A recent article in The New York Times titled: Perils of Climate Change Could Swamp Coast Real Estate, indicates that rising seas and storm-related flooding in Florida appear to be driven by climate change and may be having direct impacts on the coastal real estate market (NYT Coastal Real Estate). Acknowledging that the incoming Trump administration has given new life to doubts about climate change, the article notes some actual changes in coastal areas due to sea levels and the impact of storms on local flooding not for the fact the conditions have occurred, but for the impact of the ...
The first nuclear generator commissioned in the U. S. in 20 years has begun commercial operation. The Tennessee Valley Authority brought the Watts Bar 2 Reactor on line on October 19 (The Hill). Despite the long interval between plant starts, this marks the first of five nuclear reactors under construction in the United States, all of which are expected to come online by 2020.
Worldwide, according to the World Nuclear Association, about 60 nuclear power reactors are under construction with estimates of over 160 in the firm planning stages (World Nuclear). The Association estimates ...
The EPA's publication of a coal ash rule on April 17, 2015, did little to resolve the debate about the proper management of the material (EPA Coal Ash Page). Members of Congress have continued to push for legislation which would change significant parts of the rule, and EPA is now being criticized by the U.S. Commission on Civil Rights for not providing sufficient protection to minority communities potentially affected by the issue.
Members of Congress have, for several years, attempted to regulate coal ash by statute even as EPA was proceeding with the very protracted process of ...
For the past three years, since 2013, energy production in the United States from renewable sources (non-nuclear) has remained fairly constant at about 9 ½% of total energy production. (U. S. Energy Information Agency report, Topic 1.1.) While the potential to expand renewable production is viewed as a potentially significant economic development opportunity, there remain some practical barriers to any substantial increase in the development of renewables. This may be compounded by the mechanism used by EPA in certain states to credit renewable use.
The International Economic ...
Alabama has joined several other states in a petition filed with the U.S. Court of Appeals for the D.C. Circuit seeking to challenge the Environmental Protection Agency's final rule regulating emissions standards for certain oil and gas operations. (AG's Press Release). This challenge is apparently intended not only to address concerns about the rule for new and expanded projects, but also the potential that the rule will be extended to cover existing oil and gas operations. The challenge is led by West Virginia, and a copy of the Petition as filed with the D.C. Circuit can be found at ...
One of the many issues in the current Presidential campaign involves the question of whether to pursue a tax on carbon emissions. The matter has been viewed by the Clinton campaign with some interest but not commitment, while Donald Trump is opposed to the carbon tax at least on the basis that there is no science that supports the underlying idea of climate change. (The Divide on a Carbon Tax)
Interestingly, Exxon has called for support for a carbon tax and acceptance of scientific evidence of climate change (Fortune and Times-Picayune) even though the Company and allies continue to ...
President Obama signed a major reform of the Nation's chemical safety standards on Wednesday, June 22. The legislation amended the 1976 Toxic Substances Control Act, providing the first substantive changes in the 40-year old law. (The Hill: Obama Signs Chemical Safety Overhaul).
The amendments significantly change the authorities of the Environmental Protection Agency to evaluate chemicals and provide protection to the public. The goal is to provide more extensive and functional oversight of the chemical industry, but in a way that provides certainty to chemical ...
Certain regulated entities that operate under Clean Air Act permits are being reminded that those permits do not necessarily cover air emissions associated with the management of hazardous wastes regulated by the federal Resource Conservation and Recovery Act (RCRA) and various State counterpart statutes. RCRA regulations governing hazardous waste management include certain requirements intended to prevent fugitive emissions of hazardous air pollutants, and these can operate separate from or in addition to requirements imposed by a facility's air permit.
An EPA national ...
The coal industry has experienced substantial economic turmoil over the recent past, including bankruptcies - most recently by Peabody Energy Corporation - but also by Arch Coal, Inc., Walter Energy, Inc., and Patriot Coal Corp.
Generally, the industry and associated users of coal, have attributed these problems to the designated "War on Coal," the fashionable pejorative characterization of policies of the Obama Administration. Popular as it is among these groups to blame all the industry's woes on the Administration, this may well distract from the real cause. Business and ...
Renewable energy investments (primarily solar and wind generation) set a record in 2015 with a collective investment of $286 billion. This according to a report from the United Nations Environment Progamme. (Climate Central News). The indication was that this amount was substantially greater than the total of $130 billion spent on fossil fuel plants last year. Moreover, much of the total is attributable to China, which has historically focused primarily on coal-fired electric generation. Similar progress was noted in the United States at the recent National Renewable Energy ...
On February 9, 2016, the United States Supreme Court dealt the Obama administration a setback when it temporarily blocked the Obama administration's efforts to regulate emissions from coal-fired power plants in its attempt to combat global warming. In a 5-4 opinion, with the Court's four liberal members dissenting, the Court granted a request by 29 states, along with dozens of corporations and industry groups, to temporarily halt an Environmental Protection Agency ("EPA") regulation[1] before the matter was fully considered by a federal appeals court. The EPA issued the ...
The third global summit on climate change has begun its meetings in Paris. Unlike the two previous summits, in Kyoto (1997) and Copenhagen (2009), there is optimism that an agreement under the auspices of the United Nations might be reached. (Paris Deal Important First Step).
This optimism apparently has its origin, in substantial part, based on an agreement between the United States and China, the two largest carbon pollution emitters in the world. Yet, while the President may have made inroads to persuading China that emissions reductions are merited, and he has also put his own ...
A story in the New York Times recently portrays the ice cap in Greenland as rapidly disappearing. (NYT). Indeed, the pictures are dramatic. The story is based on experiences and observations from scientists working in the area, and it tends to support similar claims made by researchers in recent years about changing conditions in Greenland. At the same time, those who deny that global warming is occurring, or at least that it is not significantly caused by human activity, have pointed to other reasons for the reduction in the ice cap there. (Junk Science) Thus, observations are made that ...
Legal challenges filed almost immediately after President Obama announced the Clean Power Rule may be premature. That is what attorneys for EPA told the U.S. Court of Appeals for the District of Columbia Circuit recently in response to an action brought by West Virginia and several other states. The fundamental issue according to EPA attorneys is that a challenge is not ripe until the regulation is published in the Federal Register, and that may not occur for several weeks. (The Hill). The particular issue raised by the petitioners is an effort to stay the effect of the Rule while the ...
A recent article in USA Today questions whether ethanol's days are numbered. While that article is written from the perspective of whether the stock of ethanol producing companies is a good investment, it focuses on some of the issues that frame the debate about continued support for ethanol as a fuel addictive. That use stems from a congressional mandate set out in 2005 requiring 10% of the nation's fuel to be blended with ethanol. Since over 130 billion gallons of gasoline are sold annually in the United States, that means approximately 13 billion gallons of ethanol are produced, the ...
On Friday, March 27, 2015 the Georgia legislature passed HB 397, overhauling the State Soil and Water Conservation Commission ("Commission"). HB 397 is intended to curb the Commission's independence and streamline its regulations. The bill transforms the Commission from an independent state agency to one within the umbrella and oversight of the Department of Agriculture. One state representative provides that the bill is expected to save the state up to $300,000. See Michael Caldwell, Legislative Tracker ...
A significant issue in the recent federal government shut down was the fundamental question over the scope of government authority and its role in a wide range of activities. In short, should there be any government involvement with respect to particular issues? While the shut down focused most directly on the federal healthcare program, similar questions have been raised both about Congressional enactments over things such as environmental protection, and the scope of those enactments as reflected by regulation. These policy and practical issues are playing out now with respect ...