Economic Impact of Climate Change—A Dive into the CFTC Report

On September 9, 2020, the U.S. Commodity Futures Trading Commission (CFTC) issued a report of the climate-related market risk subcommittee. Throughout the report, the CFTC highlights the significant emphasis that must be placed on climate change, as threats related to such changes may impact U.S. financial institutions and regulators. The report is critical, as it analyzes the future needs for progression and development within financial markets, and the intersection of environmental policies and controls on those markets. By developing this report, the CFTC intended to develop …

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City of Hoboken Dials Up the Heat Against the Fossil Fuel Industry, Seeks Damages Relating to Climate Change

On September 2, 2020, the City of Hoboken, which sits across from New York City along the Hudson River, commenced suit against a consortium of fossil fuel industry giants alleging the companies engaged in a multi-decade campaign to mislead the public and conceal the climate change risks posed by the production and use of fossil fuels. Hoboken is the 20th municipality, state, or private organization to sue the fossil fuel industry over climate change since 2017, and the fifth local jurisdiction to sue for alleged …

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On Second Thought: U.S. EPA Issues 2020 Steam Electric Reconsideration Rule

This week, the U.S. EPA finalized a rule relaxing Obama-era standards for disposal of wastewater from coal-fired power plants. The Trump administration has characterized the new rule as a means of reducing pollution and saving jobs at the same time, while environmentalists decry the new rule as a threat to the nation’s waterways and the health of those who live near affected power generation facilities.

In 2015, the EPA issued a final rule regulating discharges from steam electric power plants, including arsenic, lead, mercury, selenium, chromium, …

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Oil Prospecting in the Arctic National Wildlife Refuge: Is it Worth It?

Earlier this week, the Trump administration finalized its plan to open up a portion of the Arctic National Wildlife Refuge in Alaska to oil and gas development. This marks a significant change in protections for the Refuge, as protections have been afforded to this large stretch of wilderness for more than half a century. The Trump administration was drawn to this area of land based on a large coastal plain located in the Refuge, which is believed to contain significant portions of oil. Furthermore, oil production …

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Environmental Groups Raise Climate Change Concerns in New Suit Challenging Trump Administration’s Attempted NEPA Overhaul

Last week, a coalition of environmental groups filed suit in the Southern District of New York following the Trump Administration’s proposal to update the National Environmental Policy Act (NEPA)—the federal law that requires certain environmental reviews prior to the approval of major infrastructure projects. 

The lawsuit, Environmental Justice Health Alliance et al. v. Council on Environmental Quality et al., Civil Action No. 20-cv-6143, is the third challenge to the Administration’s NEPA overhaul following two other cases filed in Virginia and California federal courts in late July.

The suits were spurred by the promulgation of …

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Bona-Fide Improvement: Ohio Adds BFPP Defense to Hazardous Waste Liability

This summer, Ohio implemented a change in its hazardous waste law that will be welcomed news to purchasers of brownfields. The new law adds a bona-fide prospective purchaser (BFPP) affirmative defense that will make those who qualify for its protections “immune to liability” to the state under the state’s environmental laws. Additionally, the new defense applies retroactively to pending causes of action that started before the law’s effective date.

The concept of a BFPP defense is familiar to purchasers of commercial property, as a similar …

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Is a Watchdog’s Bark Worse Than its Bite? Inspector General Begins Probe of EPA’s New Vehicle Emissions Rule

The Office of the Inspector General of the United States Environmental Protection Agency is beginning an investigation into “potential irregularities” in the adoption of new regulations related to vehicle emissions. The evaluation arose after a former Environmental Protection Agency employee complained that career staff were not involved in the creation of the new rules.

The notice from the Office of Inspector General also credits Senator Tom Carper (D-Del.) for initiating the investigation and notes that the Office of Inspector General will determine whether the rule …

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Supreme Court Limits Prohibition on Streamlined Pipeline Permitting Process

Last week, Supreme Court Justice Elena Kagan issued an Order for the Supreme Court on a stay application, limiting a lower court decision that prohibited new pipeline projects from using Nationwide Permit 12 (NWP 12), a permit used for certain types of discharges in oil and gas infrastructure projects. The stay of the lower court decision does not apply to the Keystone XL pipeline project, which is the subject of a pending appeal in the U.S. Court of Appeals for the Ninth Circuit. The stay …

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Dakota Access Pipeline Shut Down

On July 6, 2020, a federal district judge ordered the Dakota Access Pipeline to shut down. The judge vacated the easement allowing the pipeline to cross beneath Lake Oahe, which stands near lands held sacred by several Sioux tribes, until the U.S. Army Corps of Engineers completes a full environmental impact statement (EIS) under the National Environmental Policy Act (NEPA). Additionally, on July 7, 2020, a federal judge refused to put the decision to shut down the pipeline on hold pending appeal.

The Sioux tribes …

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Does This Mean My Trucker Hat is Cool Again? CARB Enacts First Mandate for Implementation of Zero-Emission Trucks in the U.S.

The California Air Resources Board (CARB) adopted a rule on June 25, 2020, setting a deadline of 2045 for all trucks sold in California to be zero-emission models. The rule is the first of its kind in the United States. Globally, the rule represents one of the most ambitious efforts to date to replace diesel trucks with battery-powered and other zero-emission vehicles.

“It is clear this is the first of its kind in the world,” said California Air Resources Board Chairwoman Mary Nichols. “It’s part …

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