Speaking Sustainability
A blog dedicated to keeping you up-to-date on climate change policies.
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Speaking Sustainability
Akin is participating at COP28 and providing regular updates from the conference.
Speaking Sustainability
Akin is participating at COP28 and providing regular updates from the conference.
Speaking Sustainability
The U.S. Department of Energy (DOE) Office of Fossil Energy and Carbon Management (FECM) issued a Funding Opportunity Announcement (FOA) on December 13, 2022, explaining how DOE will allocate more than $1.2 billion of federal funding to support the development of four Regional Direct Air Capture Hubs (“DAC Hubs”). The Infrastructure Investment and Jobs Act of 2021 (IIJA) requires DOE launch a program to accelerate DAC Hub development. This FOA is the first of two anticipated announcements explaining how DOE will allocate $3.5 billion appropriated by the IIJA through fiscal year 2026 for this purpose. Click here for full post.
Speaking Sustainability
The Inflation Reduction Act (“IRA”) includes a variety of incentives, including tax credits and grants, for US industries to reduce greenhouse gas (“GHG”) emissions. The IRA also includes a significant “disincentive” for emitting methane from certain oil and gas facilities, namely the Methane Emissions Reduction Program which includes a methane waste emissions charge (“methane fee”) that will become effective January 1, 2024. The 2021 Global Methane Assessment recognized that, as described by the Institute for Governance and Sustainable Development, “aggressively cutting methane emissions is the fastest and most effective way to reduce the rate of warming and keep the global average temperature from breaching the 1.5°C barrier above preindustrial levels.”
