Monthly Archives: February 2021

Cost-Benefit Analysis Is Very Complicated — And Very Important

It’s only a slight rhetorical exaggeration to say that the limited bandwidth left to environmental issues other than climate change in recent years has been largely occupied by concerns about PFAS – Per-and polyfluoroalkyl substances, also known as “Forever chemicals.”  A fascinating story in Bloomberg Environment & Energy (subscription required) this week suggests that we may need a little more bandwidth for PFAS.

The Bloomberg story explained that fluoropolymers are integral to the rollout of 5G networks and are also critical to a number of advanced technologies,… More

Is BlackRock Starting to Walk the Walk?

Climate risk is investment risk.

So says BlackRock.  And when you manage $8.7 trillion, people tend to listen to what you say.  I’ve been noting for some time that BlackRock’s statements seemed to presage increasing shareholder activism with respect to climate.  And yet there have been skeptics.  As noted in ClimateWire last week, BlackRock’s actions have not always seemed to match its rhetoric.… More

More on the Social Cost of Carbon — Are We Doing It All Wrong?

Last month, I posted about the Biden administration’s effort to develop a new estimate of the social cost of carbon.  The EO requires a new interim SCC within 30 days and a new longer-term SCC by January 2022.  Earlier this week, Joseph Stiglitz and Nicholas Stern – it doesn’t get more impressive than a Nobel prize winner and an actual Lord – released a National Bureau of Economic Research Working Paper (non-academics can download up to three papers free per year) in which they argue that,… More

The Trump Administration Suffers Yet One More Judicial Defeat; The “Secret Science” Rule Is Vacated

Last month, I noted that the Trump administration had suffered “one final judicial defeat” – the rejection of its Affordable Clean Energy Rule.  Of course, I spoke too soon.  Last week, Judge Brian Morris rejected EPA’s rule “Strengthening Transparency in Pivotal Science Underlying Significant Regulatory Actions and Influential Scientific Information” – also known as the “Secret Science Rule.” 

The Secret Science Rule was promulgated on January 6,… More