Global Project, Energy and Infrastructure Finance Group partner Allan Marks authored an article for Forbes on the United States Supreme Court’s recent decision to sharply curtail the Environmental Protection Agency’s (EPA) power to regulate greenhouse gas (GHG) emissions from coal-fired power plants.
In a victory for coal-producing states and fossil fuel companies, the Court ruled that Congress did not grant the EPA the authority to devise caps on GHG emissions based on a system-wide approach intended to shift power generation away from coal to cleaner gas and renewable energy sources. The 6 to 3 ruling, in West Virginia, et al. vs. Environmental Protection Agency, et al., limits the EPA to regulating emissions from standalone power plants without the broader tools necessary to compel a shift toward a cleaner power grid. The ruling could set back efforts to fight climate change. It may also impact investments in energy assets, including renewable power, and create more regulatory uncertainty.
