New rules will force U.S. firms to divulge role in warming the planet (2024)

FAQs

Will the new rules force US firms to divulge role in warming the planet? ›

Under the rule approved Wednesday, large public companies will need to start reporting their financial exposure to climate-related risks such as severe weather events by 2025. They will have until 2026 to begin disclosing their emissions. Smaller corporations will be given more time.

High Global Warming Chemicals

On September 23, 2021, EPA issued a final rule that will phase down the U.S. production and consumption of HFCs by 85% over the next 15 years, as mandated by the AIM Act. A global phasedown of HFCs is expected to avoid up to 0.5°C of global warming by 2100.

Reducing U.S. greenhouse gas emissions 50-52% below 2005 levels in 2030. Reaching 100% carbon pollution-free electricity by 2035. Achieving a net-zero emissions economy by 2050.

The legislative, executive, and judicial branches all have a role to play in reducing U.S. greenhouse gas emissions and building resilient communities. Congress is responsible for authorizing laws to address the climate challenge and appropriating funding for relevant programs.

Carbon dioxide is a long-lived greenhouse gas that can linger in Earth's atmosphere for thousands of years. Consequently, the United States bears more responsibility for the amount of warming that has occurred so far and will persist for millennia.

A warmer climate increases public health challenges like heat-aggravated illnesses, vector borne diseases, and decreased access to safe water and food. Cutting short-lived climate pollutants can slow the rate of warming and lower public health risks.

The White House Office of Domestic Climate Policy (Climate Policy Office) implements the President's domestic climate agenda, coordinating the all-of-government approach to tackle the climate crisis, create good-paying, union jobs, and advance environmental justice.

Why Do We Need Climate Laws? Scientists say we can still avoid the worst impacts of climate change if we reach net-zero carbon pollution before 2050. We need these laws to hit that mark. Just having vague goals on the books hasn't worked.

The Biden administration's most important climate action to date was signing the Inflation Reduction Act into law in August 2022, the most comprehensive climate legislation the U.S. has even seen. The law invests hundreds of billions of dollars in clean energy, electric vehicles, environmental justice and more.

In 1988, global warming and the depletion of the ozone layer became increasingly prominent in the international public debate and political agenda.

What are the problems with global warming in the US? ›

Increases in the frequency and intensity of extreme weather events, such as heat waves, droughts, and floods, can increase losses to property, cause costly disruptions to society, and reduce the affordability of insurance.

Global warming is the long-term heating of Earth's surface observed since the pre-industrial period (between 1850 and 1900) due to human activities, primarily fossil fuel burning, which increases heat-trapping greenhouse gas levels in Earth's atmosphere.

El Niño conditions that emerged in June 2023 continued into January, but according to NOAA's Climate Prediction Center it is likely that El Niño will transition to ENSO-neutral by April–June 2024 (79% chance), with increasing odds of La Niña developing in June–August 2024 (55% chance).

Accelerating Clean Energy Ambition

While climate change cannot be stopped, it can be slowed. To avoid the worst consequences of climate change, we'll need to reach “net zero” carbon emissions by 2050 or sooner. Net zero means that, on balance, no more carbon is dumped into the atmosphere than is taken out.

The Paris Agreement is an unprecedented framework for global action. We know because we helped design it and make it a reality. Its purpose is both simple and expansive: to help us all avoid catastrophic planetary warming and to build resilience around the world to the impacts from climate change we already see.

We wanted to find out how well these laws are working. We used a database with information about climate laws in 133 countries across the globe. We found that each new law reduces yearly carbon dioxide emissions by an average of 0.8% in the first 3 years, and 1.8% in the longer term.

Governments are legally obligated to rapidly reduce and phase out fossil-fuel emissions – failure to do so is a violation of some of our most fundamental human rights. Governments in countries that have contributed the most to climate change must take action first and make the biggest reductions.

Current policies presently in place around the world are projected to result in about 2.7°C warming above pre-industrial levels. NDCs alone will limit warming to 2.5°C. When binding long-term or net-zero targets are included warming would be limited to about 2.1°C above pre-industrial levels.

Though China is responsible for the largest percentage of current emissions, rich industrialized countries are still responsible for more than one third.