‘An Affront on the Science of Climate Change’: Trump Administration to Propose Rollback on Coal Plant Regulations
FOR IMMEDIATE RELEASE
MEDIA CONTACT: Stefanie Spear, [email protected], 216-387-1609
Washington, DC—Dec. 6, 2018—The Trump administration plans to ease requirements for carbon capture technology on new coal plants. The announcement is expected today.
Lila Holzman, energy program manager of As You Sow, made the following statement:
“The Trump administration’s proposal to ease carbon capture requirements for new coal plants is an affront on the science of climate change and the very real economic harms associated with ignoring its reality. While utilities like Xcel Energy are demonstrating that committing to urgent greenhouse gas emissions reductions is feasible and good for business, our government is irrationally increasing the likelihood of catastrophic climate change by attempting to prop up an unacceptably risky industry. It won’t work. Companies that continue transitioning to adapt and increase their use of clean, renewable energy sources will be those that thrive.”
Danielle Fugere, president of As You Sow, made the following statement:
“President Trump continues to support 20th century energy technology at the expense of modern solutions. This a recipe for economic stagnation. While other countries such as China and even India are leading the way in supporting clean, low carbon energy, America under Trump is still looking backward.”
The economic case against coal is clear. In 2011, As You Sow released a white paper, Financial Risks of Investments in Coal, laying out the financial risks of continued reliance on coal for electricity generation. The report identified three primary risks for investors who have utility and mining companies in their portfolios: the unprecedented level of regulatory uncertainty, commodity risk due to volatile and rising coal prices and low natural gas prices, and increasing construction costs.
To learn more about As You Sow’s work on climate change, click here.
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As You Sow is a nonprofit organization that promotes environmental and social corporate responsibility through shareholder advocacy, coalition building, and innovative legal strategies. See our resolutions here.