SEC Pronouncement on Climate Change Impact Disclosure

See 75 Fed. Reg. 6290 (Feb. 8, 2010) for SEC's new pronouncement on climate change impact disclosure requirements.  Sections III and IV of this Interpretive Release guidance constitute an update to Financial Reporting Release No. 1 (April 15, 1982).  Disclosure expectations go beyond potential pollution control requirements, and include potential material effects of pending legislation and regulations on supply costs and demand for produced goods. 

New EPA Renewable Fuel Standard (RFS2)

EPA issued a final rule earlier this week.  Until Federal Register publication, text can viewed at:  http://tinyurl.com/yb8pfmv Includes links to response to comments and final Regulatory Impact Analysis.  Among the important changes are a revised GHG Lifecycle Analysis for dry mill corn ethanol which gives it a passing grade (20% reduction threshold).  The final list of approved feedstocks has been modified and should be studied carefully.  Anything not on the list is only eligible for RIN credit after successful petition to EPA. 

PA governor announced yesterday that the State intends to implement more stringent environmental regulation of gas drilling.  Marcellus Shale "fracking" procedures have raised substantial controversy over the last few months.  Residents and environmentalists claim contamination of groundwater, while gas companies claim it's the same procedures with the same and adequate protection as they have always used.  As this issue gathers political traction it will become harder to achieve a balance based solely on science.  The irony here is that natural gas is generally considered a "clean" fossil fuel in terms of the Greenhouse Gas/Climate Change debate. 

New Proposed PA VOC reg for surface coatings

See http://www.pabulletin.com/ (1/16/10) for new proposed regulation on VOC emissions from surface coatings on metal furniture and large appliances. This regulation is based on Control Technique Guidelines (CTG) established by EPA at 72 Fed.Reg. 57215 (Oct. 9, 2007), defining RACT for these emissions. However some of the proposed requirements are more stringent. A prevously proposed rule on 11/7/09 covered surface coatings for paper, film and foil. New section 129.52 would cover these processes as well as metal furniture and large appliances.

New DOE Study Documents Potential of Wind Energy

DOE released an extensive Eastern Wind Integration Study (EWITS) today, evaluating the feasibility of incorporating wind power at up to 20-30% penetration of the electrical power grid. See: http://www1.eere.energy.gov/windandhydro/news_detail.html?news_id=15752. The EWITS concludes that 20% penetration or more is achievable by 2024, albeit with significant costs to upgrade the transmission system. The study suggests that such costs are tolerable in the context of a national power grid. The study will be good news for those discouraged by the party line that wind power is too geographically dispersed to meaningfully replace fossil fuel. Party liners may be tempted to ask for more convincing cost/benefit analysis.

As noted this morning on the LinkedIn EHS Group page, OSHA is having a "public meeting" on Feb. 10, 2010, to solicit public comment on a variety of issues. See http://www.federalregister.gov/OFRUpload/OFRData/2010-00814_PI.pdf They will accept both written comments and oral testimony. Comment topics include suggestions for updating PELs. This is a somewhat rare opportunity to make a record of OSHA issue concerns; and public interest groups will undoubtedly make their voices heard. Any business having unique issues or compliance cost difficulties should do the same. Trade associations may or may not cover your issues adequately; and you may not know for sure until very close to the comment deadline.