Oversight hearing related to last week’s postponed oversight hearing on PROMESA and LUMA Energy. Postponed until further notice.
09/30/2022 at 09:30AM
Climate science, policy, politics, and action
Oversight hearing related to last week’s postponed oversight hearing on PROMESA and LUMA Energy. Postponed until further notice.
This hearing will examine how the climate investments in the Inflation Reduction Act will help lower electric and fuel bills for American families, create jobs, and expand investments in U.S. manufacturing of clean energy, clean vehicles, and climate solutions.
The committee will receive testimony from:
Nearly a year on from the pivotal COP26 summit in Glasgow, the ever-present issue of climate change has only grown more untenable. The private sector is poised to answer the call that’s become impossible to ignore, and seize the opportunity to collaborate across industries in the fight to save the planet.
Faced with the dooming evidence of world regions that are rapidly becoming unlivable, policy makers at last year’s climate summit developed a set of goals, from halting deforestation to cutting coal, in an attempt to reach net-zero by 2050. And now, geopolitical instability has increased the pressure to make systemic, sustainable changes and accelerated the need for clean, renewable energy.
Like all FORTUNE conferences, the Global Sustainability Forum will feature informative interviews, and interactive breakout sessions, with participation from top-level executives, investors, decision-makers and thinkers from around the world. Early confirmed speakers include Al Gore, CEOs Warren East of Rolls-Royce, Enrique Lores of HP, Annette Clayton of Schneider Electric North America, Mary Powell of Sunrun, Robert Niven of CarbonCure Technologies, Keshav Murugesh of WNS, Geraldine Matchett of Royal DSM, and Marcie Frost of CalPERS, as well as the sustainability heads for Keurig Dr. Pepper, Citi, Manulife, Shopify, Verizon, and Oracle.
Overview
FORTUNE’s third annual Global Sustainability Forum will convene virtually on September 29 to explore how executives are implementing their COP26 promises to save the planet and build resilient businesses through the following:
Agenda
11 – 11:10 AM Green Aviation and the Fuel of Tomorrow Warren East
Rolls Royce CEO Warren East is optimistic about the future of flying. Under his leadership, the company’s all-electric aircraft broke world records last year, and now East predicts that the first transatlantic flight, powered solely by sustainable fuel, will take off by the end of 2023. We’ll hear how the future of aviation could be carbon neutral and what that will mean for customers and the travel sector.
11:10 – 11:25 AM The Power of Energy Innovation Annette Clayton, Mary Powell
A rise in energy prices around the world. Unreliable grids and power shutoffs across the country. A dramatic increase in the number of electric cars sold every day. And to all of that, add the rise of conscious consumers who are decarbonizing their homes to save money and lower their emissions. The energy transition is under way and the demand for electrification has never been higher, so how is the industry responding and innovating?
11:25 – 11:40 AM Sustainable Agriculture: Tackling the Rising Food Crisis Geraldine Matchett,Ertharin Cousin The world is facing an unprecedented hunger crisis, driven by a perfect storm of socio-political instability, knock-on effects of the pandemic, and our growing climate emergency. Yet food production is also one of the biggest contributors to climate change, generating up to 37% of total greenhouse gas emissions. Hear from the experts about the innovative solutions needed to stave off global hunger as we face rising temperatures and more extreme weather events throughout the world.
11:40 – 11:55 AM Collaboration and the Future of Finance Marcie Frost,Laura Tyson
The private sector is stepping up in the global fight against climate change, with $60 trillion of assets under management with net-zero commitments. But it can only go so far without smart regulation and cooperation from the government. As landmark climate legislation is passed and the SEC rolls out a tougher stance on climate risk disclosures, how are policymakers, investors, and business leaders striking a balance?
11:55 AM – 12:05 PM People, Planet, Profit: Big Tech Turns Green Enrique Lores
HP plans to reach carbon neutrality by 2025, cut its greenhouse gas emissions in half by 2030, and reach net-zero by 2040. But how? Hear more about the tech sector’s pivotal role in fighting climate change, and how HP plans to meet its goals, plus why investing in sustainability makes good business sense in the long-term.
12:05 – 12:15 PM Keeping the Transition on Track: What to Watch for at COP27 Rich Lesser
Businesses and governments have made substantial pledges over the past years to reduce emissions and take action on climate. As leaders continue to work to translate those commitments into action, two major events could advance these efforts. The first, the passage of climate measures in the Inflation Reduction Act in the US, will finance hundreds of billions of dollars of green energy investments. The second, COP27 in Egypt in November, will build on the progress made in Glasgow last year. A conversation with BCG’s Rich Lesser will discuss the impact of the IRA for business and what leaders should expect at COP27
12:15 – 12:20 PM SWITCH BREAK
12:20 – 1:15 PM STRATEGY SESSION: Clean Tech for a Net-Zero World
An investment in burgeoning climate technology, such as wind and solar power, may just be the magic equation needed to solve the climate crisis. But what technologies are already in use? How can everything from carbon capture to electrification help develop and sustain an energy-efficient enterprise?
12:20 – 1:15 PM STRATEGY SESSION: Financing a Low-Carbon Economy
Transitioning to a low-carbon economy requires new strategies across the financial sector. What investments are being made today to deliver a net-zero future? And how can market participants effectively allocate capital to make sustainability a success?
Hosted by BCG
12:20 – 1:15 PM
STRATEGY SESSION: Sustainable Supply Chains
The average supply chain accounts for more than 90 percent of a consumer company’s impact on air, land, water, biodiversity, and geological resources, which creates far greater social and environmental costs than its own operations. So what steps can companies take to address supply chain inadequacies and improve sustainability performance?
Hosted by Salesforce
12:20 – 1:15 PM STRATEGY SESSION: Leading the Circular Economy Transition
Finding more circular solutions could unlock $4.5 trillion in GDP growth by 2030, so how can companies redesign their business models to complete their transition to the circular economy? Hear more about the ways products are being revamped to prevent waste and recover spent resources.
Hosted by Nasdaq
1:15 – 1:20 PM SWITCH BREAK
1:20 – 1:30 PM Strategy Session Report Backs
1:30 – 1:40 PM How to Be a Climate Optimist Katharine Hayhoe
Katharine Hayhoe is a leading climate scientist and a strong believer that the first defense against climate change is conversation and a heavy dose of optimism. She will share her latest research and her thoughts on how businesses can lead the charge in bringing awareness and action to combat the effects of a changing global environment
1:40 – 1:50 PM Chile’s Ambitious Path to Net-Zero Maisa Rojas
When Maisa Rojas was named Chile’s Minister of Environment earlier this year, she inherited a hefty portfolio: a decade-long drought and a profitable but energy intensive mining industry. Now, she’s helping the country to walk the line between economic opportunity and environmental action. Rojas will discuss how businesses and government can work together to address the climate crisis, her hopes for COP27, and Chile’s ambitious and legally binding goal of reaching net-zero by 2050.
1:50 – 2:05 PM Securing a Sustainable Future Al Gore
It’s been over forty years since Al Gore first raised the alarm to congress about a rapidly warming planet and since then, he has used every tool in his arsenal to combat climate change. Hear how the Nobel Peace Prize winner is investing in a sustainable revolution, what his hopes are for the country’s first ever climate legislation, and why he believes “political will is itself a renewable resource.”
Witnesses
This nomination hearing was sparsely attended by Senators.
Revesz’s nomination was widely supported by regulatory scholars.
Bloomberg’s Courtney Rosen wrote:
A law professor for more than 30 years who once clerked for former Supreme Court Justice Thurgood Marshall, Revesz specializes in climate change and regulation. He supports a traditional approach to evaluating regulations, a technique that has been criticized by progressive members of the Democratic party.
Revesz founded the Institute for Policy Integrity at New York University in 2008. Roll Call’s Benjamin Hulac reported:
During the Trump administration, the institute, along with other university and advocacy groups and research organizations, maintained an online database to track lawsuits over federal agencies’ steps to change or weaken federal regulations, dozens of which concerned environmental or energy issues.
Markup of:
Postponed recorded votes on the following amendments to the Grijalva amendment in the nature of a substitute to H.R. 4690:
Witnesses:
H.R. 8168, the “Save Our Sequoias Act” cosponsored by Reps. Kevin McCarthy (R-CA) and Scott Peters (D-CA), could potentially expedite harmful logging operations in Giant Sequoia groves and their surrounding landscapes by minimizing required thorough environmental studies and community involvement that usually inform the decision-making processes.
Nominations
Legislation
H.R. 5689, the Resilient Assistance for Mitigation for Environmentally Resilient Infrastructure and Construction by Americans (Resilient AMERICA) Act, addresses disaster resilience issues and expands coverage for hazard mitigation.
The bill
Additionally, the Federal Emergency Management Agency (FEMA) must set aside 10% of funds made available for any given year to further the implementation and enforcement of the latest published editions of relevant consensus-based building codes.
FEMA must require as a condition of providing nonemergency financial assistance for construction projects costing at least $1 million that the steel and iron used in the projects be produced in the United States, with certain exceptions.
FEMA must carry out a residential resilience pilot program to provide grants for residential resilience retrofits (e.g., elevation of homes, floodproofing measures, wildfire retrofit and mitigation measures, and wind retrofits).
The Government Accountability Office must study the challenges to states and territories in obtaining funds under public assistance alternative procedures.
H.R. 6461, the National Climate Adaptation and Resilience Strategy Act, requires the Federal Government to produce a national climate adaptation and resilience strategy.
S. 4882, the Fire Grants and Safety Act;, authorizes appropriations for the United States Fire Administration and firefighter assistance grant programs.
S.4328, the Fire Suppression Improvement Act, sets the federal cost share of fire management assistance at 75% of the eligible cost of such assistance and permits a state or local government to use such assistance for the predeployment of assets and resources. The Federal Emergency Management Agency (FEMA) must complete a rulemaking to provide criteria for the circumstances under which it may recommend that the President increase the federal cost share.
H.R. 7211: Small State and Rural Rescue Act
This bill addresses requests for, and other matters pertaining to, disaster assistance provided through the Federal Emergency Management Agency (FEMA), with a focus on small states and rural communities.
The bill expands the duties of FEMA’s Small State and Rural Advocate to include assistance for states in the collection and presentation of material in the disaster or emergency declaration request relevant to demonstrate severe localized impacts within the state for a specific incident.
Additionally, the Government Accountability Office must review FEMA’s implementation of its final rule regarding factors considered when evaluating a governor’s request for a major disaster declaration. In particular, the review must focus on requests for a major disaster declaration authorizing individual assistance.