Complete list of press releases

(Washington, D.C. – October 24, 2023) Three agencies that are the backbone of U.S. banking regulation have developed joint guidance, released today, on how banks should manage the monetary risks of the climate crisis.

The Federal Deposit Insurance Corporation (FDIC) voted today to approve the new interagency Principles for Climate-Related Financial Risk Management for Large Financial Institutions, co-authored by the Federal Reserve Board and Office of the Comptroller of the Currency (OCC).

“Climate-related financial risks — including damages from extreme heat, wildfires and flooding — are significant and increasing. Just like any other type of financial risk they oversee, the U.S. banking regulators should ensure that banks effectively manage climate-related financial risk,” said Stephanie Jones, Senior Attorney for Environmental Defense Fund. “At the same time, banks must uphold their fair lending responsibilities and maintain access to capital for frontline communities, as the guidance released today recognizes. Today’s guidance is a welcome and urgently needed step toward strengthening the climate resilience of our financial system.”

Banking regulators already oversee management of a variety of risks, from whether a bank has sufficient liquidity to its exposure to market volatility. Today’s joint guidance will help ensure that banks likewise take needed steps to manage financial risks arising from climate change, which is already affecting broad segments of the economy. The guidance instructs banks to consider how climate change intersects with traditional risk management areas, such as market, credit, operational, and compliance risks. It further explains how climate risk considerations should be integrated throughout risk management processes, from governance to strategic planning to reporting.

Previously, EDF partnered with NYU School of Law’s Institute for Policy Integrity to submit joint comments to all three agencies – the FDIC, the Federal Reserve Board and the OCC –

supporting the agencies’ draft guidance documents and making further recommendations.

Read more about EDF’s work on this issue here.

(RALEIGH, N.C. – Oct. 24, 2023) Today, North Carolina Governor Roy Cooper issued Executive Order No. 292, which lays out a roadmap to incorporate environmental justice goals across state cabinet agencies. The order will elevate the state’s environmental justice advisory board, previously housed within the Department of Environmental Quality, to an environmental justice council, which will now report to the governor. The council is tasked with developing best practices to advance justice and equity, connecting communities to available resources and increasing transparency and accountability.

“Addressing the needs of North Carolina communities historically overburdened by pollution will require a comprehensive, whole-of-government approach, and Governor Cooper’s announcement is an important step in that direction. The actions laid out in EO292 establish critical accountability measures as the state continues to make meaningful progress to address environmental injustices in communities across North Carolina.

“As we work toward a clean energy future with good jobs, healthier air and a more stable climate, it’s essential that environmental justice is fully resourced at every level of decision-making. We look forward to supporting the Cooper administration as they work to prioritize justice and collaborate with communities toward a more equitable, resilient future for everyone.”

• Dionne Delli-Gatti, Associate Vice President, Community Engagement

Today, the Environmental Protection Agency (EPA) announced that it will ban commercial and consumer uses of trichloroethylene (TCE), a highly toxic chemical used in a variety of commercial and consumer degreasing, cleaning, and lubricating applications.

TCE is highly toxic at low levels of exposure and is known to cause cancer in humans. The chemical also poses potential human health hazards for the central nervous system, kidney, liver, male reproductive system, and at very low levels to the immune system and to fetal development. Workers, pregnant people, and members of fenceline communities are at particular risk for harm.

Maria Doa, Senior Director for Chemicals Policy, lauded EPA staff and affected families who have worked for so long to ban the chemical: “TCE is so toxic and causes multiple harms at very low levels of exposure. This is a major step forward for those in the agency, advocacy groups—including EDF—and families and communities around the nation that have fought to prohibit the use of a chemical that has harmed or cut short the lives of so many people. TCE is a chemical that simply should not be used.”

The proposal would ban most uses within one year. The remaining uses—including by NASA and the Department of Defense and in electric vehicle batteries—would be phased out within 10 years. During this phase-out period, EPA would require employers to institute workplace safety programs.

In the coming weeks, we will take a closer look at the proposed rule and offer suggestions to strengthen the final version to better protect public health during the phase-out, including for workers, pregnant people, and fenceline communities, and more quickly phase-out the uses not immediately banned.

(Denver, CO – Friday, October 20) – The Colorado Air Quality Control Commission voted unanimously today to adopt the Advanced Clean Car II (ACCII) standard – second-generation safeguards that will expand sales of new zero-emitting cars and passenger trucks in the state, slash climate and health-harming pollution, and save Coloradans billions of dollars on health care costs and fuel and maintenance for their vehicles.

“The Advanced Clean Car II standard will dramatically cut climate pollution and help clean up the air that Coloradans breathe,” said Larissa Koehler, Director of Vehicle Electrification and Senior Attorney for Environmental Defense Fund. “More zero-emitting vehicles in Colorado also means a more robust market for Colorado consumers, and that will mean even more savings for Coloradans who choose to buy a new zero-emitting car or truck. Today the Air Quality Control Commission took a key step to make the lives of all Coloradans better."

The ACCII standard adopted today will be implemented beginning in 2027 and run through 2032.  During that time, the standard will require increasing sales of new zero-emitting vehicles and will strengthen protections against harmful air pollutants from gas-powered vehicles. Under the new standard, 82% of new passenger vehicles sold in Colorado will be zero-emission in 2032.

The Colorado Air Quality Control Commission also voted to require a state agency to bring a proposal no later than July 31, 2029 for the Commission to consider extending the standard through 2035. EDF advocated for this feasible and important step, which would set a target for 100% sales of new zero-emission cars and passenger trucks and would help move Colorado closer to eliminating all traffic pollution in the state.

With today’s vote, Colorado joins eight other states that have now adopted the Advanced Clean Car II standard – California, Maryland, Vermont, Washington, Oregon, Massachusetts, Virginia, and New York – and becomes the first state in the Mountain West to adopt them. New Mexico and Connecticut are among the states now considering adopting the standard as well.

Colorado adopted the first generation Advanced Clean Car Standard in 2019.  

The Advanced Clean Car II standard will deliver enormous health and climate benefits. Colorado projects they will reduce 109 million tons of climate pollution and thousands of tons of smog-forming pollution through 2040. 

The standard will also expand consumer choice in the state, furthering current trends. Colorado saw a staggering 55% increase in electric vehicle sales between 2021 and 2022. By the end of 2025, automakers will have almost 200 electric vehicle models for sale across the country. That momentum will continue to drive down the price of zero-emission vehicles.

The Advanced Clean Car II standard will also help save consumers money in avoided fuel and maintenance costs. EDF conducted an analysis of the economic savings Coloradans could get from buying a currently available or soon anticipated electric vehicle. Our analysis found that consumers could save as much as $21,000 over the course of 10 years.

Colorado offers $5,000 in tax credits to support the purchase of a new zero-emission vehicle, which can be added to the federal tax credits of up to $7,500 under the Inflation Reduction Act. Under the Advanced Clean Car II standard, the state will also offer voluntary credits for manufacturers who take part in programs that benefit environmental justice communities, including rideshare programs, caps on retail costs for some vehicles, and sales of previously leased vehicles through a financial assistance program.

Today’s vote comes at a time when analyses from the state and EDF show Colorado remains off track from its 2025 and 2030 climate targets. While it makes important progress, in order to achieve the greenhouse gas emission reductions mandated by state statute, the Colorado Air Quality Control Commission needs to swiftly follow this action with the adoption of enforceable standards covering all major pollution sources.

(Denver, CO — Oct 20, 2023) Today, Colorado’s Air Quality Control Commission took final action to adopt a rule that would allow 18 of Colorado’s largest industrial facilities (known as GEMM II facilities) to increase, rather than reduce, climate pollution this decade. As shown in the state’s own analysis, the targets adopted in the rule would allow total climate pollution from these facilities to increase 9% above current levels in each year leading up to 2030, dwarfing the modest 5% decrease that is targeted in 2030. Overall, the adopted rule would allow these facilities to emit 1.2 million metric tons more climate pollution over the decade than if pollution from these industries stayed flat at today’s levels. The regulation was opposed by numerous parties throughout the hearing, including the state’s Climate Equity Community Advisory Council, environmental justice and community advocates, large industrial emitters, local governments, and others. 

“At a time when Colorado communities need leaders to advance strong action that protects their health and their future, regulators instead adopted a rule that puts Colorado in reverse, allowing industry to increase its pollution,” said Katie Schneer, Senior Analyst, for U.S. Climate at EDF. 

“After over a year working on this rule, the Commission approved regulations that will allow total pollution from Colorado’s largest industrial sources to increase through the end of the decade. More pollution will worsen the climate crisis and perpetuate health harms to Colorado families, especially in communities that bear the brunt of air pollution impacts. 

“Colorado is projected to fall well short of its 2025 and 2030 climate goals, according to analysis EDF published in July. To get on track and provide the climate and community protections necessary, the Commission must establish regulations that ensure climate and air pollution declines not just for these industrial sources, but throughout the state’s economy. The legislature established a clear directive for the Commission to make near-term progress on cutting climate pollution — both in the industrial sector and economy-wide — and they continue to miss the mark. Unfortunately, the administration’s actions in this rule and across its climate strategy mean Coloradans will continue to wait for the kind of climate leadership they’ve clearly demanded.” 

The Louisiana Department of Natural Resources Office of Conservation has finalized stronger rules in an effort to reduce the state’s orphan well problem. The rule stands to improve the management of the 17,000 future utility, or non-productive oil and gas wells by encouraging their proper closure, an action that will create jobs, raise property values across the state and facilitate new clean energy projects, all while reducing emissions and protecting public health and safety. 

The Future Utility Rule includes incentives for operators to plug their non-productive wells, increases fees once wells have been non-productive for five years or more and establishes more control over extending exemptions for plugging in perpetuity that have historically allowed wells to idle for forty years or more. The fees collected can be used by the Oilfield Site Restoration Program to continue diligent efforts to plug orphan wells, leveraging additional benefits to taxpayers, landowners and communities across the state.

“The jobs and business opportunities created by this rule tap the existing skill sets of Louisiana’s working people,” said Liz Russell, Louisiana State Director at Environmental Defense Fund. “This action will grow our economy while addressing the need to remediate underutilized legacy oil and gas infrastructure.”

The rule is an essential step that Louisiana is making at a critical time before costs for taxpayers balloon out of control. While the state is receiving hundreds of millions of dollars from the federal government to close the orphan wells already in existence, this regulatory update will help stop the creation of tens of thousands of new ones. With this strengthened oversight, Louisiana can work to break the cycle of idle wells becoming orphan wells.

Once wells have been in future utility status for three years or more, only 20 percent of them ever return to service. Of those that do, over 80 percent of their lifetime production will have already happened prior to entering future utility status, speaking to the need to ensure that wells in this program truly have future utility. Additionally, these improved regulations help make Louisiana eligible for up to $70 million more in federal funding to help tackle the statewide challenge of orphan wells, providing benefits to constituents across Louisiana.

(Washington, D.C. – October 19, 2023) Environmental Defense Fund today launched a million-dollar ad campaign emphasizing how federal policies, like EPA's proposed clean car standards and the tax credits and infrastructure investments in President Biden's clean energy plan, will lead to wider choices in electric vehicles for consumers.

The ad campaign involves television and digital buys in Pennsylvania and Washington, D.C., complemented by social and print advertising, to reach key audiences. The ads are set in Scranton, PA, known as the Electric City for introducing electric trolley lines in the 1880s. Pennsylvania for EVs features Mayor Paige Cognetti, who utilized state and federal funding to create an electric vehicle fleet for the city, while Love for EVs shares the story of a northeast Pennsylvania couple who decided that driving an EV is just common sense because it’s cheaper to operate and more reliable.    

“We’ve already reached a tipping point for price parity, with some electric vehicles less expensive to own than many gas-powered cars,” said Elizabeth Gore, Environmental Defense Fund’s Senior Vice President for Political Affairs. “Adopting these strong standards will provide drivers with more choices and greater affordability while reducing pollution that harms people’s health and the climate.” 

The Biden administration in April proposed standards that will help encourage automakers to offer many more affordable EV options. These changes by EPA will help ensure about two-thirds of the new cars and passenger trucks sold in the U.S. will be pollution free at the tailpipe a decade from now.  

There are already substantial tax rebates for buying an electric car or passenger truck – as much as $7,500 for a new one or $4,000 for a used one – because of the Inflation Reduction Act. Some models available today can save their owners more than $18,000 over the life of the vehicle in avoided fuel and maintenance costs, an Environmental Defense Fund and WSP analysis found. In Pennsylvania, those savings can exceed $25,000 with some popular EV models.  

“The Biden administration’s announcement today of billions of dollars in investments in our nation’s electric grid is great news for our efforts to address the climate crisis, improve grid reliability, and keep people safe.

“Almost $3.5 billion from the Bipartisan Infrastructure Law will be invested in 58 projects across 44 states. The funding will help strengthen the grid against the increasingly extreme weather linked to climate change, bring more than 35 gigawatts of new low-cost renewable energy online, create American jobs, and save families money on their power bills.

“I’m especially happy to see funding for the Joint Targeted Interconnection Queue Transmission Study Process and Portfolio, which will help connect solar and wind generation projects across the Midwest, and the Confederated Tribes of Warm Springs and Portland General Electric Regional 500kV Transmission Innovative Partnership, which will help increase clean energy development and electric reliability for Tribal and other communities in eastern Oregon.

“All Americans need an electric grid they can rely on, even during climate-induced extreme weather events, and we all deserve access to affordable clean electricity. The funding announced today will get us much closer to those goals.”

            - Ted Kelly, Senior Attorney for Markets and Regulation, Environmental Defense Fund

(AUSTIN, October 16, 2023) —Texas voters will have a chance to weigh in on securing safe, clean, and accessible drinking water for communities statewide. Proposition 6 would amend the state constitution  to create the Texas Water Fund and provide $1 billion dollars to address aging water infrastructure and gaps in access to clean drinking water. 

The National Wildlife Federation and the Environmental Defense Fund have a long track record of educating the public on water supply and infrastructure issues. “If voters pass Proposition 6, it would enable significant new investments for the state’s water infrastructure,” said Jennifer Walker, director of the National Wildlife Federation’s Texas Coast and  Water Program. “The funds would support water loss mitigation, water conservation, aquifer storage and recovery, and other strategies that would build a more resilient water supply for Texans, as the state experiences historic growth and climate impacts.”

If passed, the $1 billion investment would mark the first time in a decade that the state has expanded funding to address long-term water infrastructure needs. Texas’s existing water infrastructure is under stress and in need of sustained investment. For example, this past summer, record heat and drought caused old pipes and water mains to break, leading to billions of gallons of water loss in major cities. 

“Texas’ rural water systems are in deep disrepair,” said Vanessa Puig-Williams, director of the Texas Water Program at Environmental Defense Fund. “The Texas Water Fund is a much-needed intervention as it specifically prioritizes funding for rural communities. The fund is an important step in what needs to be a broad, creative, urgent effort to empower local communities in securing a sustainable water future.”

• According to a National Wildlife Federation analysis, Texas utilities are losing about 572,000 acre-feet per year, corresponding to an average of about 51 gallons of water per service connection every day.
• Over the next 20 years, the Environmental Protection Agency estimates that Texas will need more than $60 billion in investments to fix water infrastructure
• The American Society of Civil Engineers gives the state’s drinking water infrastructure a C-, noting that the state experiences a high number of boil water notices. 

The funds could also be used to support controversial projects such as water desalination along the Gulf Coast. NWF and EDF will continue to advocate for strategies that make the best use of our existing water supplies, including conservation and reuse.   

For reporters interested in groundwater and rural water issues, please contact Jonathan Seefeldt to reach EDF's Texas Water Program, at jseefeldt@edf.org or 512-412-2540.   

For reporters interested in urban infrastructure issues, please contact Amal Ahmed to reach NWF’s Texas Coast and Water program, at Ahmeda@nwf.org or 469-554-9749.

(Washington, D.C. – October 13, 2023) The U.S. Supreme Court today announced that it will hear two cases this term challenging a long-established legal framework that serves a critical role in protecting people from health and environmental dangers.

In both cases, petitioners are asking the High Court to reconsider the Chevron doctrine, the decades-old legal precedent that requires courts to defer to Executive Branch agencies’ experience, reasoned decision-making, and expertise in administering laws Congress has given the agencies responsibility to carry out.

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“At stake is a foundational legal principle that our nation depends on to protect millions of people from climate pollution, consumer fraud, and destruction of our fisheries, and to ensure clean air, clean water, safe food and work places, and civil rights, among other safeguards. Respecting this long-standing precedent is vital for protecting the public from a wide variety of harms so that all people can thrive.”

            - Vickie Patton, General Counsel for Environmental Defense Fund

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The Supreme Court agreed has now agreed to hear two cases – Loper Bright Enterprises v. Raimondo (S.Ct. 22-451) and Relentless Inc. v. Department of Commerce (S.CT. 22-1219) – that each challenge the Chevron doctrine. The cases will be heard together this January.

EDF has filed an filed an amicus curiae, or “friend of the court,” brief in Loper Bright Enterprises v. Raimond.

The Chevron doctrine takes its name from a 1984 case, Chevron, U.S.A., Inc. v. Natural Resources Defense Council, Inc. (467 U.S. 837), which addressed the proper standards for courts to apply in reviewing agency decisions that depend on interpreting acts of Congress. Chevron holds that, so long as federal agencies stay within the clear bounds of the law, the courts must respect the agencies’ expertise and their reasonable interpretations of federal laws. It has been relied on by the Supreme Court itself in scores of cases, and by lower courts in thousands of cases, and has long provided a clear background rule for Congress, the Executive Branch, and the public.

(October 13, 2023, Salt Lake City, UT.)  A new Synapse Energy Economics analysis commissioned by Environmental Defense Fund and Taxpayers for Common Sense finds oil and gas companies across Utah waste $48 million-worth of natural gas per year. That’s enough lost gas to meet the annual needs of more than a fifth of the state’s residential gas customers, and accounts for $6.7 million in lost potential tax revenue for federal, state and tribal governments per year.

This waste occurs when natural gas is either leaked, flared or vented from oil and gas infrastructure. The U.S. EPA is set to finalize a proposed rule to address methane pollution this fall. National rules provide significant upside for states like Utah, where wasted taxpayer resources could be saved with stronger guidelines for oil and gas operators.

"When oil and gas operators waste natural gas through leaks, venting and flaring, Utah communities suffer.” said Nini Gu, EDF Regulatory & Legislative Manager, West. “If that gas was captured instead of wasted, it would generate nearly $6.7 million in revenue for federal, state, local and tribal governments, and be available for important public services, including education; that’s why the EPA’s forthcoming methane rule is so incredibly important.”

Methane is a potent greenhouse gas with more than 80 times the warming power of carbon dioxide in the short term and responsible for more than 25% of the warming we are experiencing today.

“Methane waste and pollution is bad for our air and climate, bad for Utah’s economy and bad for taxpayers.” said Ashley Miller, Executive Director of Breathe Utah. “That’s why Breathe Utah supports the EPA’s efforts to improve protections for all Utahns by eliminating waste and pollution from leaks, venting, and flaring.”

According to the analysis, the 16 billion cubic feet of methane wasted from Utah’s 12,540 active oil and gas wells in 2019 translated into nearly $6.7 million in lost tax and royalty revenue to the state of Utah - including over $1.2 million in lost revenue for the tribal governments of Utah. That funding could have supported Utah’s education system and gone to city and county governments.

“The new report proves that Utah is throwing away millions of dollars in natural gas every year. This isn't just wasteful; it's practically a gift to oil and gas companies. They're allowed to release and burn natural gas without paying a cent, even when it's not an emergency. The administration needs to put an end to this. The EPA has the power to set new rules by year-end that would cut down on waste and pollution, a win-win for taxpayers.” said Michael Surrusco, Director of Campaigns at Taxpayers for Common Sense.

This analysis highlights that leaks are the leading cause of natural gas waste in Utah, responsible for roughly 87% gas wasted. The remaining 13% of wasted gas was lost to venting and flaring.

Lost tax revenue isn’t Utah’s only problem. Other pollutants are emitted alongside methane, such as volatile organic compounds. VOCs are an important precursor to the formation of ground-level ozone, a harmful gas which can trigger asthma attacks, worsen respiratory diseases and lead to heart disease. Oil and gas operations are the primary contributor to ozone pollution in the Uinta Basin which has led to serious air quality issues in Duchesne and Uintah County, particularly during the winter. Oil and gas operations can release other toxic chemicals such as benzene, which is known to cause cancer. Efforts to cut methane waste and pollution will help to conserve a crucial energy resource in the supply chain and protect Utahans from this public health threat.

Colorado and New Mexico have already implemented comprehensive rules to minimize oil and gas pollution in their states including strong leak detection and repair rules, requiring the use of zero-bleed pneumatic devices, and the elimination of routine flaring. This creates an important and proven foundation for federal agencies to build upon in developing standards that serve the needs of Utahns.

Reducing methane waste and pollution also creates jobs in the fast-growing methane mitigation industry, which is already established across Utah manufacturing products and providing services to help operators address emissions. The methane mitigation industry provides family-sustaining jobs that typically pay 10% more than the federal average and can’t be offshored. Over 75% of methane mitigation companies say they would create more jobs with strengthened methane emission standards in place.

(Washington, D.C. ) With President Biden’s announcement today of the projects selected for the $7 billion Regional Clean Hydrogen Hubs program, Environmental Defense Fund is urging hub developers and public officials to ensure that the investment achieves its full potential in the clean energy transition. 

In cases where hydrogen is made using fossil fuels, upstream methane emissions can easily undermine the climate benefits. Projects using renewable energy to make hydrogen are counterproductive if they pull those clean resources away from existing users. Hydrogen also has warming effects of its own, meaning operators must minimize leaks and other emissions.   

“Hydrogen is a critical path to fuels and feedstocks we need to decarbonize the energy system. It’s essential that we get it right. For hydrogen to help the climate, it needs to be produced, managed and deployed carefully. The next steps in the hub development process are where that starts.  

“Making hydrogen from natural gas means leftover carbon dioxide needs to be captured and safely stored in perpetuity, and methane emissions must be controlled much more effectively than they are today. Projects making hydrogen using renewable energy shouldn't be competing with other electricity users who would have to fall back on fossil fuels.   

“Hydrogen has powerful warming effects when it’s released into the atmosphere. Preventing leaks and unnecessary venting is essential. Hubs need both strategies and technology to prevent emissions, including a new generation of sensors coming to market to find and fix problems. 

“Without proper protections and community engagement, projects could create unfair health and environmental impacts at the local level – such as increasing air pollution or overtaxing water sources. Hub developers must work closely with communities to prevent harmful impacts and create meaningful community benefits. 

“Setting a high bar for climate performance is fundamental for the success of these projects.”   

 — Beth Trask, Vice President, Global Energy Transition, Environmental Defense Fund 

The projects now enter a more detailed development and design process, where stakeholders will have the opportunity to integrate these concerns. To help developers, public officials, investors and local communities, EDF created BetterHubs.edf.org — which lays out 10 objectives for co-designing Hub projects in a way that sets a new higher bar for industrial development. 

(October 12, 2023) New data from Environmental Defense Fund and WSP USA shows Nevadans who buy some popular models of electric cars or passenger trucks will save a lot of money in the first 10 years of ownership – in some cases more than $27,000.

EDF and WSP analyzed the cost of owning and operating four currently available or soon anticipated new electric vehicles in Nevada using state-specific data.

We compared four electric car models to their gas-powered versions. We looked at the expected costs over the first 10 years of the vehicle’s life including buying the car (and the home charger for the electric version), annual registration, maintenance, insurance and fuel costs, and factored in the tax breaks and rebates provided by the IRA.

In each case, the electric vehicle saved Nevadans money – up to $27,576:

The new analysis comes just over a year since Congress passed the Inflation Reduction Act. An earlier report from EDF and WSP showed that Nevadans are reaping big benefits from the IRA, especially in investments in clean vehicles.

Nevada has seen:

• $13 Billion in private sector investment in electric vehicle and battery manufacturing in the last 8 years, more than 60% of that since passage of the IRA
• 12,400 new Nevada jobs announced, almost half of that since passage of the IRA

Nevada is now ranked 5^th in the country for new investments in electric vehicle and battery manufacturing.

The transportation sector is the largest source of climate pollution in the U.S. as well as a main source of other pollution, like particulate matter and smog-forming emissions, that puts people’s lives and health at risk. Electric vehicles are a key way to reduce that pollution and address the climate crisis, as well as being a way for Nevadans to save money.

(Washington, D.C. – October 11, 2023) The U.S. Court of Appeals for the D.C. Circuit today rejected another attempt by industrial polluters to halt the Good Neighbor Plan, EPA’s vital pollution-reduction standards that protect people from interstate smog.

EPA’s Good Neighbor Plan is designed to protect people in downwind states from the health-harming pollution that blows over their borders from coal-fired power plant smokestacks and other industrial sources in nearby states. Today, for the second time, the D.C. Circuit denied an industry request for a stay of the plan. Last month, a previous court order denied a request by power companies and coal interests to block these crucial air pollution limits.

“These court decisions mean millions of people will continue to be protected from dangerous industrial pollution that’s emitted by smokestacks in neighboring states,” said Noha Haggag, a clean air attorney for Environmental Defense Fund, which was a party to the case. “EPA’s common-sense limits on industrial air pollution will help millions of people breathe easier. Today’s ruling once again highlights the solid legal foundation of the Good Neighbor Plan, as well as being a victory for public health.”

The Good Neighbor Plan requires power plants, including coal plants, and other industrial polluters in upwind states to decrease their nitrogen oxides (NOx) pollution, which contributes to unhealthy levels of smog in nearby states. That smog can affect communities hundreds of miles downwind as well as people who live near the polluting facilities.

Smog is a caustic pollutant that is linked to serious heart and lung diseases and premature deaths. It is especially dangerous for children as their lungs are still developing, but also poses an increased risk to people with asthma, the elderly, and people who are active outdoors. EPA estimates the Good Neighbor Rule will save at least one thousand lives and prevent more than one million asthma attacks each year when it is fully implemented.

Opponents filed lawsuits in several courts to overturn the Good Neighbor Rule, and they also have asked the courts to issue stays – which would halt the rule from being enforced while the cases are considered. The D.C. Circuit’s decisions denying a stay means the Good Neighbor Plan will be in effect for the duration of the litigation in that court. Other stay requests and litigation are still pending in some other courts.

EDF joined a coalition of environmental, environmental justice and health groups to defend the Good Neighbor Rule in the D.C. Circuit. The coalition includes Citizens for Pennsylvania’s Future, Clean Air Council, and Clean Wisconsin represented by Clean Air Task Force, and Air Alliance Houston, Appalachian Mountain Club, Center for Biological Diversity, Chesapeake Bay Foundation, Downwinders at Risk, Louisiana Environmental Action Network, Sierra Club, Southern Utah Wilderness Alliance, and Utah Physicians for a Healthy Environment, represented by Earthjustice.

(October 7, 2023) – California has two brand-new laws that require large companies operating in California to disclose their risks from climate change — a vitally important step that will help ensure investors have the information they need to make prudent financial decisions.

Governor Gavin Newsom signed the measures, SB253 and SB261, into law today.

“Climate-related financial risks are already serious, and they are intensifying. Climate-amplified weather disasters, including heat waves, wildfires and floods, are causing billions of dollars in damage every year,” said Michael Panfil, Senior Director of Climate Risk and Clean Power at Environmental Defense Fund “Investors, both big and small, need to understand the nature and scope of climate risks, and California’s actions today are a critical step toward meeting that need.”

The new laws apply to companies doing business in the state of California. SB 261 applies to companies with annual revenues of at least $500 million a year. Those businesses would be required to disclose information about their climate risk management. SB 253 applies to companies with annual revenues of  at least one billion dollars a year, who will also have to disclose their greenhouse gas emissions.

California’s adoption of laws increasing transparency around climate-related financial risks follows the release of a report by the Treasury-led Financial Stability Oversight Council. That report found “climate change is an emerging threat to the financial stability of the United States.” 

The laws also align with actions around the globe, as regulators and legislators in multiple countries seek to ensure that the disclosure of climate-related financial risk is brought level with the disclosure of other forms of financial risk. Countries including the United Kingdom, New Zealand and Japan have already taken steps to require that the mounting harms of climate change to their financial systems are proactively identified and understood.

The U.S. Securities and Exchange Commission has also proposed a standard that would require publicly traded companies to disclose their climate-related financial risks, so that investors have sufficient information. California’s new laws are designed to work with these other standards and minimize duplication of efforts by companies.

Investors, asset managers and companies have increasingly made clear that they urgently need the information made possible through climate-related financial risk disclosure – and that doing so is feasible, today. In California this includes more than a dozen companies.

“Our economy is healthiest when investors are able to have relevant data and make informed decisions on the basis of that available information,” said Panfil. “An economy where the financial risks of climate change are better understood and disclosed strengthens the financial resilience and stability that is vital for all.”