SEC Faces Lawsuit Over Climate Disclosure Rules | EarthxNews Full Episode - video Dailymotion

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EarthX Website: https://earthxmedia.com/   SEC faces a lawsuit over climate disclosure rules; the EPA bans chrysotile asbestos; cherry blossoms peak early; Denmark climate talks set stage for COP29; black rhinos return to a Kenyan conservancy.   About EarthxNews:  A weekly program dedicated to covering the stories that shape the planet. Featuring the latest updates in energy, environment, tech, climate, and more.   EarthX & EarthXtra  Love Our Planet.  The Official Network of Earth Day.    About Us:  At EarthX, we believe our planet is a pretty special place. The people, landscapes, and critters are likely unique to the entire universe, so we consider ourselves lucky to be here. We are committed to protecting the environment by inspiring conservation and sustainability, and our programming along with our range of expert hosts support this mission. We’re glad you’re with us.     EarthX is a media company dedicated to inspiring people to care about the planet. We take an omni channel approach to reach audiences of every age through its robust 24/7 linear channel distributed across cable and FAST outlets, along with dynamic, solution oriented short form content on social and digital platforms. EarthX is home to original series, documentaries and snackable content that offer sustainable solutions to environmental challenges. EarthX is the only network that delivers entertaining and inspiring topics that impact and inspire our lives on climate and sustainability.       EarthX Website: https://earthxmedia.com/    Follow Us:  Instagram: https://www.instagram.com/earthxmedia/  LinkedIn: https://www.linkedin.com/company/earthxmedia  Facebook: https://www.facebook.com/EarthXMedia/  TikTok: https://www.tiktok.com/@earthxmedia  YouTube: https://www.youtube.com/@EarthXMedia  Dailymotion: https://www.dailymotion.com/earthxmedia    How to watch:    EarthX - Cable:  - Spectrum  - AT&T U-verse (1267)  - DIRECTV (267)  - Philo  - FuboTV   EarthXtra - Streaming:  - Plex  - Fire TV  - Xumo  - Sling    #EarthDay #Environment #Sustainability #EcoFriendly #Conservation #EarthX

Transcript

00:00Some new climate rules adopted by the Securities and Exchange Commission are facing a number of

00:07challenges in court. We'll have the latest on the legal efforts seeking to block the policy

00:12from taking effect. Plus, the Environmental Protection Agency announces a ban on the

00:18remaining uses of asbestos. But some critics say the regulation doesn't go far enough.

00:23We'll explain. And spring has sprung and so have the cherry blossoms in Washington,

00:29D.C. We'll tell you why this year's bloom is one for the record books.

00:40Hello and welcome to EarthX News, where we focus on sustainability, conservation, and the environment.

00:46I'm Christina Thompson. Let's get into some of the biggest headlines facing our planet.

00:50A federal appeals court lifted its temporary hold on some new climate rules from the Securities and

00:55Exchange Commission. It's now being picked up again in court. The courts had previously placed

01:01an order temporarily blocking the SEC's recent climate disclosure policy. The judge's decision

01:06granting a request for an administrative stay on the rules came after two oil field service companies,

01:12Liberty Energy and Nomad Propand Services, filed a lawsuit challenging them. The litigation from the

01:18oil companies is just one of several lawsuits that have been filed against the SEC's new climate rules.

01:23You might remember, in early March, the financial agency voted to adopt a new set of rules requiring

01:29firms to report on their direct emissions and the emissions linked to their energy purchases.

01:34Companies would also be required to make public by next year their financial exposure to climate

01:38risks, including severe weather events like hurricanes and wildfires. The SEC said the temporary hold

01:45was unnecessary since the deadline for complying with the rule wouldn't require any disclosures

01:50before March 2026 at the earliest. Critics of the SEC's new policy, who argue the agency's

01:56regulations are overreaching, previously praised the court's ruling on the temporary hold.

02:02The U.S. EPA is taking steps to phase out America's use of asbestos. Now, this might surprise you,

02:08but it is still being used here. Federal environmental officials announced they finalized a ban

02:13and will also block the manufacturing and import of chrysotile asbestos in the country.

02:18Under the new policy, the EPA says it will allow businesses up to 12 years to transition away from

02:24using the toxic chemical, which has been linked to cancer, like lung cancer and mesothelioma.

02:29But despite supporters of the policy praising the move, some critics are calling attention to the

02:34potential impact the new rule could have on companies that use the chemical.

02:38To list some product examples, bulletproof vests and some car parts, and even the components used

02:43to purify drinking water. Other opponents say the rule doesn't go far enough since it only applies

02:49to chrysotile asbestos, which is the only known type of asbestos still used in the U.S.,

02:54though five other types of asbestos exist. Joining us now to discuss our former chief of staff at the

03:00U.S. Environmental Protection Agency, Mandy Gunisakara, and president and co-founder of the

03:05Asbestos Disease Awareness Organization, Linda Reinstein. Thank you both for coming on.

03:10Can you tell us a little bit more about this specific type of asbestos? It seems like it's

03:15used in a lot of products, even though there's quite a few hazards surrounding it. Linda, I'll go to you

03:21first. Sure. So there are six fiber types of asbestos, and chrysotile is the most commonly

03:29mined fiber in Russia, Canada, and Brazil. The other five fiber types have really been phased out

03:36because they're considered amphiboles and even more carcinogenic. Linda, this is the only type

03:42of asbestos that's known to still be used in the United States. I know you mentioned some of the

03:46types that have been phased out. Why exactly were those phased out so much faster than this one has

03:51been? Well, I think the fact that chrysotile is heavily mined has been the focus. And the EPA part

03:59one is one fiber in six conditions of use. And that's where the Lautenberg bill first started

04:09to prioritize asbestos. I think it's really important when we talk about asbestos to recognize

04:15that every public health organization from the WHO, CDC, our own government, etc., they all confirm

04:24asbestos is a known carcinogen. And we don't differentiate between fiber types. We just

04:29know it's a carcinogen and there is no safe level of use. Mandy, more than 50 other countries,

04:34they've already phased this out. Why has this type taken so long to begin phasing out in the United

04:40States? Well, that's a really good question. It's a testament a bit to our state of environmental

04:47regulations. For better or worse, there's always a lot of litigation and opportunities for various

04:53groups to challenge. As you rightfully pointed out in the beginning, people on both sides of the

04:59equation, ones that want stronger regulations and those who want more time to comply, everyone is a

05:05little upset. And typically, if everyone's a little bit upset, that means you struck the right balance.

05:10But getting the right balance can take a lot of time and it can be complicated by lingering

05:16litigation that takes its time to work through the various court systems. And then whether that's

05:20procedural or whether it's technical. And then when you get into the point of implementation, which

05:25we're looking down that pathway as well, there's another slew of litigation that's possible along

05:29those lines. So it takes a long time because of these relative checks that have been put in place in

05:36the United States environmental policy approach. Mandy, just to follow up to that, because you did

05:41just touch on my next question, this final ruling now tells companies you've got 12 years to phase

05:46this out. Is that a long time for companies to have? Well, it depends on what's the replacement.

05:54In some of these applications, there are alternatives. But I was actually talking to someone who's

06:00pretty, pretty, a very specialized expert in this area a couple days ago. And they said that one of

06:07the alternatives to asbestos use in certain industrial applications is PFAS. We're not talking

06:13about PFAS right now, but all your viewers need to know that's another chemical that EPA has been

06:17working on a comprehensive plan to get out of the general public and to better manage its use and

06:25application and then control it from getting into the environment. So it depends on the application.

06:3112 years sounds like a long time, but it depends on the state and evolution of technology to actually

06:37replace because the uses are very important. You laid out some. There's also a lot in medical

06:41applications. Clean drinking water is one of the most important. So we don't want to, by virtue

06:46of setting timelines, create unintended consequences by taking away something that's actually vital to

06:54what's produced at the end of it is quite good, like clean drinking water or sterilized medical

06:59equipment and so on. Right. Linda, same question to you, that 12-year phase-out, is that a long time?

07:05Well, it is a long time because we have to think about the imports and the transition and the workers

07:11and communities that could be impacted. But again, we're looking at 12 years, a balanced approach.

07:18And we know that the chloroalkali industry, that is the main industry that imported hundreds of tons of

07:25raw asbestos to be transitioning. In fact, Olin Corporation has five years to transition and they

07:34appear to be going forward with that plan. So only one company is looking to use 12 years to transition.

07:41And of course, drinking water is important, but it's also important to know that the major industrial

07:47uses of chlorine and caustic soda are for industrial purposes like PVC piping. And only about five or

07:55seven percent of that industrial chlorine and caustic soda is used for drinking water. So we know the

08:01corporations can transition. Ladies, thank you so much for coming on. I appreciate your time in this

08:06conversation. Thank you. Abandoned oil and gas wells may create a challenge to carbon storage projects

08:13in the U.S. According to a recent study from the Center for Applied Environmental Science,

08:18the deserted wells pose a weak spot in carbon sequestration. The research comes as energy

08:23companies have applied for scores of permits seeking to pump the climate pollutant underground

08:28through a process that injects the greenhouse gas into porous rock formations. Scientists say the

08:34formations are usually filled with brine containing high salt levels, heavy metals, hydrocarbons,

08:39and radioactive elements. Brine leaks can be even more worrying than just the escape of CO2.

08:46Scientists who study underground carbon dioxide storage say the risk of large-scale leaks is low,

08:52but some environmentalists are skeptical, including the director of the watchdog group

08:56behind the study who said, quote, it's not a question of whether they're going to leak. It's a

09:01question of how much, how often, and whether it's an acceptable level of leakage. In addition to the

09:06growing concerns about potential leaks of brine and CO2, the EPA also estimates the abandoned oil wells

09:12release about 300,000 metric tons of methane every year. Sheep may soon graze under solar panels in one

09:21of Wyoming's first agrivoltaic projects. Agrivoltaics is using land for both agriculture and high-tech solar.

09:28Bright Knight Energy Company proposed installing more than one million solar panels, a battery storage

09:34facility, and transmission lines on almost 5,000 acres of private land. The sun tracking panels will be

09:41built several feet off the ground, leaving enough room for the rancher's sheep to continue grazing

09:46beneath, and can enhance grazing conditions since the shade provided by the panels helps prevent heat

09:52stress in plants. And for the sheep, this could make solar projects more land-efficient and more

09:57acceptable in states with significant ranching activities. One study found that sheep grazing by

10:03solar panels resulted in 38 percent less vegetation, but the quality of available plants increased,

10:10offsetting the reduction. Even with less food available for grazing, the sheep gained the same amount

10:15of weight. And as a bonus, the sheep preferred grazing in the shaded areas over areas not covered by solar

10:21panels. The cherry blossoms in America's capital made an early arrival this year. The National Park

10:27Service announced the iconic trees in Washington, D.C. reached their peak bloom on March 17th. That's

10:33the second earliest on record, with the first happening on the same date 24 years ago. The parks have been

10:40tracking records for over a century, and they tell us that temperatures at the Tidal Basin, where the

10:46Washington's blooms are most vibrant have risen steadily at a rate of 1.1 degrees Celsius per

10:51century from 1895 to 2017. The blooms come on the heels of the world's warmest Januaries in more than a

10:58century, according to a recent report from NOAA. And according to the National Phenology Network

11:04Spring Leaf Out report, the appearance of tiny leaves that signal the start of spring arrived 24 days early for

11:11places like Washington, D.C. Park officials say the plant reaches its prime when 75% of the trees have

11:17blossoms on them, which happened about five days earlier than originally predicted. Just before the

11:23buds started to pop, park officials predicted peak bloom would occur closer to the end of March.

11:28Coming up, one form of energy is taking a dip, while other ways of generating electricity are on the

11:35rise in the U.S. Stay tuned. Those details are just ahead.

12:05One U.S. lawmaker is touting America's energy policy and wishes that President Biden would do

12:13the same. In a recent op-ed, Democratic Senator Joe Manchin, who helped craft the Inflation Reduction

12:19Act, said, quote, the United States is producing more oil, gas and renewable energy than ever before.

12:25We are exporting more fossil fuel energy than we import. Our country has never been more energy

12:30independent than we are today. The quote continues with, but it seems the president's advisors and

12:36the White House refuse to speak up about these accomplishments. I urge President Biden to join me

12:42in celebrating America's energy accomplishments. Manchin, who is from the country's second largest

12:48coal-producing state of West Virginia, based his comments on some recent statistics showing the

12:53country produced a record 4.7 billion barrels of crude oil, 38 trillion cubic feet of natural gas

13:01and 238 million megawatt hours of solar last year. Manchin suggested America's record fossil fuel

13:08production would not have been possible without the Inflation Reduction Act. Conservatives and the

13:14fossil fuel industry say record production levels are despite President Biden's agenda, not because of it.

13:20While recent data suggests oil and natural gas production are up in the U.S., power from coal has

13:26dipped in the last year. According to federal energy officials, coal-fired power plants generated 16.2 percent

13:33of the country's electricity in 2023. That's a three and a half percent drop from 19.7 percent the year

13:40before and down about half from a decade ago. Joining us now to discuss is Dr. Melissa Lott,

13:46a professor at Columbia University's Climate School. Melissa, thank you for coming on.

13:51Can you tell me a little bit about what accounts for this drop in coal power and what are some

13:57solutions to replace that power? Yes, when we look at coal power in the United States,

14:03first off coal is mainly used to produce electricity and within that we've seen other types of technologies

14:08and other fuels come online and be a cheaper option. So when we look at this drop in coal, a lot of it is

14:13because of replacement by cheap natural gas. This goes back to us figuring out in the United States

14:18how to frack our gas, how to bring it out of the ground and have it be cheaper than other options.

14:23Also cheap solar, cheap wind, cheap batteries and other types of energy storage, these are all

14:27contributing to coal being used less. And so while coal still has a significant role in producing power,

14:33it's being replaced by these other things that just make more sense from an economic perspective and

14:37also are increasingly fitting into policy priorities and goals that different states

14:42and communities are setting. What we are also seeing is coal power being used differently.

14:46So you have a coal-fired power plant, maybe you keep it online to be backup when it gets really hot

14:51in the south in the summer or really cold in the north in the winter. But over the course of a year,

14:56that coal power plant might be used less overall. So we do expect to see a continued decline,

15:01at least in the United States. The global picture is a bit different.

15:04So with the use of coal going down, we need to incorporate things like nuclear power.

15:10Is this going to be enough to power the United States?

15:14Yes, we certainly have the resources. It's about getting the right mix,

15:17because at the end of the day, we need to keep prices low in homes. We already have one in three

15:22Americans who are energy insecure, so defined as either paying a huge amount of their income

15:27for their energy bills. And so they make trade-offs with food or medication or other things,

15:31really tough trade-offs, or they don't keep themselves safe in their homes. So it's really

15:35important that we keep our energy affordable, the electricity coming into our homes affordable.

15:40So if we want affordable, reliable, and clean electricity, we absolutely have the resources.

15:46It's about making sure that our policies and regulations are set up

15:49to incorporate all the different types of technologies we need to keep all of those things

15:54true. Affordable, reliable, and clean power. Is gas one of those that are plentiful and affordable?

16:02So gas is one of those that has made its way into the mix because it has become so much more

16:07affordable. It is so much cheaper than when I started my work 20 years ago, and we were incorporating

16:11it in our models and our studies. Around it, it also provides flexibility into the system. The

16:16question is, what are our goals around the term clean? So if we want affordable, reliable, and clean,

16:22what does that mean for greenhouse gas emissions and their contributions to climate change? What

16:25does it mean for contributions to air pollution? Because natural gas does come with a lot of

16:30different types of air pollutants when we burn it in our power plants. And so it's certainly a

16:34solution we've incorporated now. The question is going to be, how are we either going to capture

16:39those emissions to clean up natural gas or replace it with other types of firm resources,

16:44flexible resources that can help us to make sure that our electricity stays reliable and affordable.

16:49So in your expertise, what do you think will happen with natural gas? Do you think that this

16:52trend will continue going upwards, or will it maybe start to follow the suit of coal

16:57and decline in the future?

16:58I mean, in the near term, it seems positioned to continue to expand. And so the question is,

17:05what are we doing as we get out of this decade and the coming decades? And we have a number of

17:08states, when you look at the targets in New York and California, also some of the targets around

17:13renewables and things like my home state of Texas, where the question is, how big of a role will

17:18natural gas play compared to other things? And how quickly will we phase down the use of natural gas

17:24when it comes to power generation specifically?

17:26Dr. Melissa Lott, thank you so much for your time. We appreciate it.

17:30Thanks for having me. Hope you have a good day.

17:32You as well. Coming up, climate talks get off to an early start in Denmark. Stay tuned. We'll have

17:37more on that story when we return.

17:51A group of climate leaders and ministers from around the world recently came together in Denmark

18:12for a round of early climate talks in an effort to chart a course for this year's Global Climate

18:17Summit, better known as COP29. Sarah Williamson has more.

18:22World leaders tackling a world problem as climate leaders and ministers gather in Copenhagen,

18:29setting the stage for the United Nations Climate Change Conference. It's known as COP29,

18:35this year hosted by Azerbaijan in collaboration with Denmark and the UAE. The conference aims to build

18:42upon the achievements of COP28 held in Dubai and lay the groundwork for what to expect at COP29.

18:50The president of last year's summit, Sultan Al-Jaber, stresses the need to turn these agreements into

18:56action. When the UAE consensus made history, an agreement is only as good as its implementation.

19:06We must now take urgent action across the climate agenda.

19:10And in order to turn those agreements into action, the conference puts finance at the forefront of

19:17development. And this year, finance will lie of the heart of climate diplomacy. The negotiations of the

19:24new collective quantified goal on climate finance are an opportunity to set a new path, unlock funds,

19:32and rebuild trust between the parties. Azerbaijan is set to host COP29 in November.

19:39And with oil and gas accounting for 91% of Azerbaijan's exports, its economy relies on these fossil fuels.

19:48Yet the country is committed to expand green energy sources by 30% by 2030. COP29 serving as the deadline for a new

19:58finance goal to help developing nations. So with this common goal and a like-minded delegation heading

20:06for the event, it is likely to accelerate global efforts towards a sustainable and resilient future.

20:13For EarthX, I'm Sarah Williamson. Sarah Williamson, thank you. And before we leave you,

20:19the Prince of Wales is showing his support for the planet in London. Prince William spoke to a crowd

20:25at the EarthShot Prize Launchpad. That's his new platform helping develop and make potential climate

20:30change solutions a reality. Prince William founded the EarthShot Prize Environmental Award in 2020.

20:37Its 10-year mission is to find ways to protect and repair the environment with innovative solutions.

20:43And they're back! Conservationists in Kenya are celebrating after a critically endangered species

20:50was returned to a grassy plateau that hasn't seen them in decades. 21 Black Eastern rhinos are stepping into

20:58what officials call their rightful habitat for the first time in almost 50 years thanks to the efforts of

21:04Kenya's Wildlife Service. In partnership with several private conservancies, successfully relocated the animals

21:11to a conservancy in the northern part of the country. Officials say the last time a black rhino was seen

21:16in the wild in this region was in the mid-1970s. Media reports say this species of rhino almost went extinct

21:23in Kenya in the 1980s after their numbers dwindled from 20,000 to just 300 because of illegal poaching.

21:31Officials estimate the country now has just over 1,000 black rhinos and the government hopes to double

21:37that number over the next 13 years by 2037. That's it for this edition of EarthX News. Please join us

21:43again next week. I'm Christina Thompson.

SEC Faces Lawsuit Over Climate Disclosure Rules | EarthxNews Full Episode

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