Department of Defense reports on impact of climate change on military readiness
SEC commissioner outlines SEC's ESG efforts
Federal Insurance Office to assess climate-related financial risk
FWHA announces $7.1 million to tackle greenhouse gas emissions from highway construction
Environmental Protection Agency urged to revise biofuel standards
Experts issue warning about drought due to climate change
Inflation Reduction Act gives IRS new climate powers
$28 billion invested in clean technology following climate bill
DOE requests comments on programme to boost clean energy in rural areas
US Geological Survey takes over Landsat 9 to help fight climate change
Center for American Progress argues that CFTC should improve oversight of carbon offsets market
Poll finds half of voters say climate change is important in midterms
White House to research sunlight-reflection technology to combat climate change
Governor Hochul announces over $13 million to support farmers in climate change battle
Wisconsin gubernatorial election may affect state's clean energy efforts
New Jersey accuses oil and gas producers of concealing climate risks of oil and gas
EVs become more popular in Texas
Pennsylvania brings forward new emissions limits on oil and gas sites
California's diesel truck ban sparks debate
This article outlines pertinent legal and policy climate change developments in the United States during the past two weeks.(1)
Department of Defense reports on impact of climate change on military readiness
A recent Department of Defence report outlined that climate change is "undermining military readiness and imposing increasingly unsustainable costs on the Department of Defense".
SEC commissioner outlines SEC's ESG efforts
On 17 October 2022, Securities Exchange Commission (SEC) Commissioner Jaime Lizárraga spoke at an event in London, outlining the SEC's efforts to ensure environmental, social and governance (ESG) disclosures are not misleading. He noted that proposed SEC rules seek to enhance issuers' climate risk disclosures, bolster registered funds and investment advisors' ESG disclosures, and modernise ESG-related fund name rules.
Federal Insurance Office to assess climate-related financial risk
On 18 October 2022, the Department of Treasury's Federal Insurance Office issued a request for public comments regarding a "proposed collection of data from property and casualty insurers regarding current and historical underwriting data on homeowners' insurance".
FWHA announces $7.1 million to tackle greenhouse gas emissions from highway construction
On 20 October 2022, the Department of Transportation's (DOT) Federal Highway Administration (FHWA) announced $7.1 million in funding for 25 different state DOTs participating in FHWA's climate challenge. The climate challenge seeks to "quantify the impacts of sustainable pavements and to demonstrate ways to reduce greenhouse gas emissions in highway projects using sustainable construction materials". This funding is released to further the Biden-Harris administration's federal buy clean initiative.
Environmental Protection Agency urged to revise biofuel standards
Senators Chuck Grassley and Joni Ernst, along with a bipartisan group of senators, recently penned a letter to the Environmental Protection Agency, urging the establishment of " robust and expanded renewable volume obligations (RVOs) in its forthcoming "Set" rule under the Renewable Fuel Standard (RFS)".
Experts issue warning about drought due to climate change
The US Drought Monitor has estimated that about 84% of the continental United States is currently showing conditions between abnormally dry and exceptional drought.
Inflation Reduction Act gives IRS new climate powers
With the enactment of the Inflation Reduction Act, the Internal Revenue Service (IRS) is responsible for delivering approximately $270 billion in climate-related tax incentives. However, as the IRS seeks to increase its levels of staffing, Republicans are campaigning against its increased funding.
$28 billion invested in clean technology following climate bill
An estimated $28 billion in manufacturing investments have been announced since the Inflation Reduction Act became law – primarily in the electric vehicle, battery, and solar manufacturing sectors. Moreover, energy and environmental policy firm Energy Innovation predicts that the law "could increase U.S. gross domestic product (GDP) by 0.65 to 0.77 percent in 2030", while the Blue Green Alliance forecasts that the measure "could add 9 million jobs over the next decade".
DOE requests comments on programme to boost clean energy in rural areas
On 13 October 2022, the Department of Energy (DOE) issued a request for information on the new Energy Improvements in Rural or Remote Areas programme. Included in the Bipartisan Infrastructure Law, the programme "reflects the Biden-Harris Administration's continued commitment to ensuring no communities are left behind in the historic transition to a clean energy future".
US Geological Survey takes over Landsat 9 to help fight climate change
The DOI's US Geological Survey recently assumed operations over the Landsat 9, a satellite to help monitor land, water and other natural resources. According to Deb Haaland, secretary of the interior, the satellite seeks to "support environmental sustainability and climate resiliency through high-resolution satellite imaging".
Center for American Progress argues that CFTC should improve oversight of carbon offsets market
A recent report by policy institute Center for American Progress argued that carbon offsets provide "no guarantee that they actually work". As such, Center for American Progress calls on the Commodity Futures Trading Commission (CFTC) to regulate the carbon offsets market. In June 2022, CTFC announced a voluntary carbon markets convening to:
discuss issues related to the supply and demand for high quality carbon offsets, including product standardization and the data necessary to support the integrity of carbon offsets' greenhouse gas emissions avoidance and reduction claims.
Poll finds half of voters say climate change is important in midterms
A recent Washington Post-ABC News poll reported that approximately half of registered voters say climate change is either "very important" or "one of the most important issues" in their vote for Congress. More specifically, approximately 79% of democrats noted that climate change is "at least very important in their vote" whereas about 46% of independents and 27% of republicans reported similar priorities.
White House to research sunlight-reflection technology to combat climate change
The White House is overseeing a five-year research plan to assess various sunlight-reflection technology methods. While there is concern that such a technique may be harmful, the White House Office of Science and Technology Policy "recognizes the importance of this research topic" in light of the climate crisis.
Governor Hochul announces over $13 million to support farmers in climate change battle
On 18 October 2022, Governor Kathy Hochul announced $13 million in funding to support "agriculture water quality conservation projects, which will benefit 50 farms, enhance water quality in priority watersheds, and protect the environment". The awarded projects span across 24 county soil and water conservation districts.
Wisconsin gubernatorial election may affect state's clean energy efforts
The future of Wisconsin's Public Service Commission (PSC) hinges on the outcome of Wisconsin's gubernatorial election. The race between Governor Tony Evers and Tim Michels will determine how the PSC leverages Inflation Reduction Act money and permits renewable energy projects.
New Jersey accuses oil and gas producers of concealing climate risks of oil and gas
Attorney General Matthew Platkin, the New Jersey Division of Consumer Affairs and the Department of Environmental Protection filed a lawsuit against Exxon Mobil, Shell, Chevron, BP, ConocoPhillips and the American Petroleum Institute, "alleging they knowingly made false claims to deceive the public about the existence of climate change and the degree to which their fossil fuel products have been acerbating anthropogenic global warming".
EVs become more popular in Texas
Texas's number of registered electric vehicles (EVs) grew by 55 percent from 2020 to 2021, with 81,000 EVs by the end of 2021. The state government is preparing for EVs overtaking the market and the roadways, particularly as neighbouring states experience increased consumer interest in EVs.
Pennsylvania brings forward new emissions limits on oil and gas sites
On 12 October 2022, Pennsylvania's Environmental Quality Board approved a rule entitled "Control of [volatile organic compound] Emissions from Conventional Oil and Natural Gas Sources". The rule meets federal standards and, if it is not finalised by 16 December 2022, the state faces highway funding sanctions in 2023.
California's diesel truck ban sparks debate
In reaction to the California Air Resources Board's (CARB) Advanced Clean Fleet resolution and Advanced Clean Trucks regulation, members of the transport industry have expressed concern. More specifically, increased costs and a lack of infrastructure have caused worry among the industry. CARB may alter its proposals after its 27 October 2022 public hearing ahead of final reviews in early 2023.
For further information on this topic please contact Kenneth J Markowitz, Stacey H Mitchell, Dario J Frommer or Christopher A Treanor at Akin Gump Strauss Hauer & Feld LLP by telephone (+1 202 887 4000) or email ([email protected], [email protected], [email protected] or [email protected]). The Akin Gump Strauss Hauer & Feld LLP website can be accessed at www.akingump.com.
Leila Fleming, public policy specialist, assisted with the preparation of this article.
Endnotes
(1) For further updates, including upcoming congressional hearings, federal agency climate news and events, click here. For the previous week's update, click here.