Inside Energy & Environment

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On May 29, 2024, the Department of the Treasury (Treasury) and the IRS released proposed rules for the section 45Y clean electricity production tax credit (“Section 45Y Credit”) and the section 48E clean electricity investment tax credit (“Section 48E Credit”).  These credits are informally referred to as tech-neutral credits because they do not specify particular

On May 28, the Biden-Harris Administration issued the Voluntary Carbon Markets Joint Policy Statement and Principles (Policy Statement).  You can find Covington’s analysis of the Policy Statement here.  Jointly announced by the U.S. Secretaries of Treasury, Agriculture, and Energy, and senior White House climate officials, the Policy Statement describes a three-pronged approach to responsible

On May 13, the Federal Energy Regulatory Commission (FERC or Commission) issued Order No. 1920, the Commission’s long-awaited final rule regarding regional electric transmission planning and cost allocation for future transmission projects on the nation’s interstate electric grid.  Order No. 1920 revises key aspects of the Commission’s current regional transmission planning and cost allocation

On May 28, the U.S. Secretaries of Treasury, Agriculture, and Energy, along with senior White House climate officials, issued the Voluntary Carbon Markets Joint Policy Statement and Principles (Policy Statement).  The Policy Statement provides observations regarding the current state of voluntary carbon markets, followed by a set of guiding principles for responsible market participation.  A

An additional piece of the section 30D puzzle arrived last Friday when the Department of the Treasury (Treasury) and Department of Energy (DOE) released final rules (Treasury Rule and DOE Rule).  Largely tracking the proposed regulations, which we described in our prior blog posts (here and here), but with notable changes,

On May 1, 2024, the White House Council on Environmental Quality (“CEQ”) published its final “Phase 2” National Environmental Policy Act (“NEPA”) regulations, formally called the Bipartisan Permitting Reform Implementation Rule (“Final Rule”). Publication of the Final Rule completes a multi-year effort by the Biden Administration that included publication of final, narrower “Phase

First observed on April 22, 1970, Earth Day has long been recognized as a watershed moment for the modern environmental movement.  On that day, over 20 million demonstrators nationwide marched to raise awareness of the need to protect and preserve the environment.  The energy generated from that day galvanized the country to action, leading to

On April 17, 2024, the EPA released a final rule designating two perfluorinated chemicals—Perfluorooctanoic Acid (PFOA) and Perfluorooctanesulfonic Acid (PFOS)—as hazardous substances under the Comprehensive Environmental Response, Compensation, and Liability Act (CERCLA).  EPA also released enforcement guidance explaining how it intends to apply the new listing with respect to certain types of potentially responsible parties.

On April 9, the Board of Trustees of the Science Based Targets initiative (SBTi), a climate action organization that has validated corporate decarbonization targets for more than 4,200 companies to-date, issued a statement announcing that environmental attribute certificates (EACs), including carbon credits generated by voluntary carbon projects, may be used to abate Scope 3 greenhouse