An emergency hearing is scheduled to determine whether construction of a migrant base camp in Brighton Park, Chicago, will be halted after a report revealed contamination at the site. Environmental advocates argue that this is another example of unfair treatment towards the Southwest Side community. Despite the city's claim that the most problematic toxins were disposed of off-site and the land is safe, residents and activists are calling for the cancellation of the contract and for safer shelter options for the asylum seekers. The Illinois Environmental Protection Agency is still reviewing the environmental report, and if they don't approve it, the project will not move forward.
The Biden administration has allocated $1.2 billion from the Department of Energy (DOE) to fund the development of direct air capture (DAC) facilities in Texas and Louisiana. DAC is a controversial carbon removal technology that aims to address pollution already emitted. While some environmental advocates support the move, others are wary of the deep ties between fossil fuel companies and the emerging carbon removal industry. The DOE plans to distribute a total of $3.5 billion to develop at least four DAC hubs across the US. The first two hubs are expected to capture at least 1 million metric tons of CO2 annually and create 4,800 jobs. However, critics argue that DAC allows polluting industries to continue operating instead of transitioning to renewable energy sources. The cost of DAC technology remains high, but the Biden administration aims to reduce it to less than $100 per ton of CO2 removed.
The Endangered Species Act, which has protected over 1,600 domestic species from extinction for the past 50 years, is facing increasing threats and controversy. Conservative administrations and lawmakers have sought to weaken the act, arguing that it stifles property rights and economic growth. Environmentalists accuse regulators of slow-walking new listings and claim that Congress provides insufficient funding. Recent actions, such as nullifying the endangered designation for the northern long-eared bat, have raised concerns about the future of the act. While some species have rebounded, critics argue that the act needs to be more effective in recovering species and that stronger laws and regulations are necessary to address the climate and extinction crises.
Banks in an industry working group have voted to exclude two-thirds of the emissions linked to their capital markets businesses from being attributed to them in carbon accounting, sparking discord with environmental advocates who argue that banks should assume full responsibility for emissions generated by activities financed through bonds and stock sales. The decision could impact banks' targets for becoming carbon-neutral, as almost half of the financing provided by the six biggest US banks for top fossil fuel companies came from capital markets. The accounting standard will not be mandatory, but the Partnership for Carbon Accounting Financials (PCAF) hopes that others will follow the standard that emerges.
Banks working on global standards for accounting carbon emissions in bond or stock sales have voted to exclude two-thirds of these emissions from their own carbon footprint, according to sources. This decision, if upheld, would put banks at odds with environmental advocates who argue that banks should take full responsibility for emissions generated by activities financed through bonds and stock sales. The majority of banks in the working group supported a 33% accounting threshold, while at least two dissented, advocating for 100%. The final decision will be made by the Partnership for Carbon Accounting Financials (PCAF) board. The accounting standard will not be mandatory, but PCAF hopes that other banks will follow the standard that emerges.
The Texas Parks and Wildlife Commission has voted unanimously to use eminent domain to seize Fairfield Lake State Park, a popular state park south of Dallas, from private developers who planned to turn it into a luxury community with multimillion-dollar homes and a golf course. Environmental advocates, lawmakers, and home and business owners in Freestone County urged commissioners to save the park from development. Dallas-based developer Shawn Todd, who owns the land, has warned that eminent domain would be a costly move for Texas. If the state and Todd cannot reach an agreement, the issue will ultimately be decided in court.
New York Governor Kathy Hochul's climate officials have dropped a proposal to rewrite the state's climate law amid criticism from environmental advocates and lawmakers. The proposal aimed to change how New York accounts for its emissions, but it is no longer a priority in budget negotiations. The state is still seeking a deal on "cap and invest," which would set up an auction for emissions allowances and drive increased gas and energy prices that would include a rebate to consumers to cushion the cost at the pump. New York's climate law was the most ambitious statutory mandate in the nation requiring emissions reductions when it passed in 2019.
