Maryland comptroller says: Climate risk is an investment risk, so why is Congress trying to prevent me from considering it?

Brooke E. Lierman, comptroller of Maryland stands before portraits of the three prior comptrollers – from left background, William Donald Schaefer (1999-2007), Peter V. R. Franchot (2007-2023) and Louis L. Goldstein (1959-1998) on Wednesday April 19, 2023. (Karl Merton Ferron/Baltimore Sun Staff)

By BROOKE LIERMAN

According to the latest U.S. National Climate Assessment, extreme weather events cost the United States nearly $150 billion each year, disproportionately hurting poor and disadvantaged communities. These events cast a long shadow on our economic landscape.

Whether it’s a wildfire in Maui, hurricanes in Florida, or flooding in New York City, the impacts of these disasters ripple across multiple sectors of the economy, leaving a trail of asset devaluation and increased insurance costs. As a result, these crises frequently move global markets, triggering a wave of financial pain that crashes down on not only the wheelers and dealers on Wall Street but also the millions of American workers who depend on their investment portfolios for retirement security.

It might seem odd to think that a fire in Hawaii could affect a teacher’s retirement in Maryland, but it’s true. And that’s exactly why I worked to pass legislation in my last year in office that mandates not only a regular study of our portfolio’s risk due to climate change but also requires that we treat climate risk as the investment risk it is.

As the comptroller of Maryland, I serve as the vice chair of the board of our State Retirement and Pension System, helping oversee $65 billion in assets, and diligently managing and safeguarding the financial interests of over 415,000 members. These beneficiaries are teachers, park rangers, nurses, state workers, public servants and others who help run our state and communities. It is my responsibility to evaluate all information available and ensure that they get the highest returns possible. As extreme weather events continue to intensify and our energy sources continue to transition away from fossil fuels, that means giving serious consideration to climate-related risks.

Read the full story here

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Bradford County, Pa. could allow solar project for 10,000 homes

TOWANDA — The Bradford County Commissioners held a public hearing Thursday morning on the proposed Subdivision And Land Development Ordinance (SALDO) amendment for solar energy facilities within Bradford County.

The proposed amendment seeks to “provide for the development, construction, operation, and decommissioning of utility-scale and community solar energy facilities in the county, subject to reasonable conditions that will protect the public health, safety and welfare,” according to Bradford County Planning Director Matt Williams.

County officials have anticipated solar projects within the county and sought to clarify regulations regarding them. Vesper Energy is currently developing a proposed 100-megawatt solar project within the county called Bradford Solar, according to EJay Fyke, the company’s community affairs manager. Vesper is working with up to three private landowners on the project that will take place on 600 to 700 acres of private land. Bradford Solar would generate power for 10,000 homes.

Read the full story here

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EPA closing in on final PFAS drinking water regulation

The agency previews a busy winter of new regulations and disposal guidelines that will have implications for many waste industry operators.

By Megan Quinn, Waste Dive

The U.S. EPA could finalize national drinking water standards for certain PFAS in January and finalize its designation of two types of PFAS as hazardous substances by March, according to a timetable published last week.

Separately, the agency also expects to update its guidance on how to dispose of or destroy PFAS-containing material sometime “this winter,” according to an EPA spokesperson. 

The U.S. EPA could finalize national drinking water standards for certain PFAS in January and finalize its designation of two types of PFAS as hazardous substances by March, according to a timetable published last week.

Separately, the agency also expects to update its guidance on how to dispose of or destroy PFAS-containing material sometime “this winter,” according to an EPA spokesperson. 

EPA’s Strategic Roadmap

These anticipated updates are part of the PFAS Strategic Roadmap plan that the agency released in 2021, which describes proposed actions and research it could undertake through 2024. The EPA also plans to release a progress report on key roadmap milestones sometime this month, the spokesperson said in an email. 

The waste and recycling industry has long anticipated finalization of such regulations for per- and polyfluoroalkyl substances because of the potential impacts on operational costs and liability concerns, as well as the potential PFAS management business opportunities. Here’s a rundown of these anticipated updates:

Read the full story here

Related PFAS news:
‘Forever’ contaminant PFAS found in 70% of PA rivers and streams
Waste industry groups warn looming PFAS regulations could cost them millions

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12 Bills Before the New Jersey Senate Environment and Energy Committee on Monday

The Senate Environment and Energy Committee will meet at 10 a.m., Monday, December 18, 20023 in Committee Room 6,
1st Floor, State House Annex, Trenton, NJ

Please note that public testimony regarding S2978 was taken at the November 20, 2023 meeting of the committee. No additional testimony will be taken on the bill at its December 18 meeting.

Meeting Agenda

BillSynopsisSponsorStatusLDOA
A2994Designates Common Eastern Bumble Bee as New Jersey State Native Pollinator.Calabrese, ClintonSEN6/1/2023
A3677Prohibits purchase, sale, distribution, import, export, or propagation of certain invasive species without a permit from the Department of Agriculture or Department of Environmental Protection; establishes NJ Invasive Species Council.*Stanley, Sterley S./Verrelli, Anthony S. +3SEN6/1/2023
S2186Requires installation of operational automatic rain sensor on lawn sprinklers as a condition of sale and on lawn sprinklers on commercial, retail, or industrial property and in common interest communities within specified timeframes.Greenstein, Linda R./Smith, Bob +4SEN12/11/2023
S2505Requires electric public utilities to submit new tariffs for commercial customers for BPU approval; regulates non-volumetric electricity fees charged to operators of fast-charging electric vehicle chargers.Smith, Bob/Greenstein, Linda R.SEN5/12/2022
S2978Revises State renewable energy portfolio standards.Smith, BobSEN8/8/2022
S3914Amends list of environmental infrastructure projects approved for long-term funding by DEP under the FY 2024 environmental infrastructure funding program.Discussion OnlySmith, BobSEN6/1/2023
S4097Amends list of projects eligible to receive loans for environmental infrastructure projects from NJ Infrastructure Bank for FY 2024.Zwicker, Andrew /Gopal, VinSEN11/27/2023
S4098Amends list of environmental infrastructure projects approved for long-term funding by DEP under FY 2024 environmental infrastructure funding program.Greenstein, Linda R./Stanfield, JeanSEN11/27/2023
S4138Appropriates $58 million from constitutionally dedicated CBT revenues for recreation and conservation purposes to DEP for State capital and park development projects.Johnson, Gordon M./Schepisi, Holly T.SEN11/30/2023
S4165Appropriates $48 million from constitutionally dedicated CBT revenues to DEP for State acquisition of lands for recreation and conservation purposes, including Blue Acres projects, and Green Acres Program administrative costs.Greenstein, Linda R./Oroho, Steven V.SEN11/30/2023
S4229Designates Common Eastern Bumble Bee as New Jersey State Native Pollinator.Greenstein, Linda R.SEN12/11/2023
SR129Urges EPA to expend funds from NJ Superfund settlements to remediate sites at issue.Scutari, Nicholas P.SEN12/4/2023

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Tesla Recalls Autopilot Software in 2 Million Vehicles

Federal regulators pressed the automaker to make updates to ensure drivers are paying attention while using Autopilot, a system that can steer, accelerate, and brake on its own.


By Jack Ewing, Cade Metz and Derrick Bryson Taylor, New York Times

Tesla’s reputation for making technologically advanced cars suffered a blow on Tuesday when the company, under pressure from regulators, recalled more than two million vehicles. U.S. officials said the automaker had not done enough to ensure that drivers remained attentive when using a system that can steer, accelerate, and brake cars automatically.

The recall by Tesla, the world’s dominant maker of electric vehicles, was its fourth in less than two years and the most significant to date. It covers nearly all cars the company has manufactured in the United States since 2012, including its most popular, the Model Y sport-utility vehicle.

Tesla accounts for about half of the electric passenger cars sold in the United States, but its market share has been slipping as General Motors, Hyundai, Ford Motor and other automakers have begun selling electric models. In addition, recent public statements by Elon Musk, Tesla’s chief executive, have been widely interpreted as antisemitic and offended some customers. The recall amounts to another dent in the company’s image.

“There’s no question” that the company’s brand “has taken a hit this year,” Gary Black, managing partner of the Future Fund, who is generally positive about Tesla, said on the social media site X, which is owned by Mr. Musk.

The recall follows an investigation into Tesla’s driver-assistance system, Autopilot, which the National Highway Traffic Safety Administration began in August 2021 after a series of accidents, some fatal, involving the technology. Autopilot is designed to control vehicles on its own when on highways. Tesla’s owners’ manuals tell drivers that they should keep their hands on the wheel and take over if anything goes wrong.

The recall reflects regulators’ concern that Tesla did not do enough to prevent drivers from misusing the system, including by turning it on while they travel local roads and by becoming distracted because they assumed that their car could drive itself.

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