Comment Good morning and welcome to The Climate 202! Today we’re taking this fun personality quiz from Evergreen Action called “Which IRA Climate Provision Are You?” (We are clean electricity.) But first:

Republicans will probe Wall Street’s climate positions if they take back power Less than a week before the midterm elections, Republican lawmakers on Capitol Hill are preparing to investigate what they see as “woke capitalism,” a reference to Wall Street firms treating climate change as an economic risk, Maxine reports this morning . Polls suggest the GOP will retake the House, and Republicans there are preparing to go after the chief executives of major financial firms as well as Gary Gensler, the Democratic chairman of the Securities and Exchange Commission, over their efforts to curb climate change. And in the Senate, where polls show a toss-up battle for control of the chamber, key senators are pushing legislation to punish businesses that prioritize environmental, social and governance concerns — known as ESG — over net profits. The moves are sure to escalate the battle over ESG investing and have a further chilling effect on Wall Street, where some CEOs are trying to emphasize that their companies are still investing in fossil fuels. Rep. Garland “Andy” Barr (R-Ky.) said in an interview that ESG principles “will be one of the primary points of oversight for the Republican majority” on the House Financial Services Committee, which oversees the banking sector, the insurance and real estate sectors. “My view is that ESG investing is a cancer in our capital markets,” Barr said. “This is a fraud on American investors.” The Securities and Exchange Commission “is a target of our oversight because of this monstrous 534-page climate disclosure regulation,” he added, referring to a proposed rule that would require all publicly traded companies to disclose their greenhouse gas emissions and risks faced by climate change. Not everyone is convinced that Wall Street firms face a real threat from the Republican takeover of Congress. Some see the GOP’s moves as political theater meant to satisfy the party’s base and fuel the nation’s ongoing culture wars. The GOP is dealing with “a lot of political hay,” said Ivan Frishberg, head of sustainability at Amalgamated Bank, which does not do business with fossil fuel companies. “But I don’t think that changes what asset managers or banks do in terms of their approach to either managing their assets in a changing climate or engaging in the climate initiatives they’re involved in.” But sustainable investment advocates are bracing for intense scrutiny if Democrats do poorly in the midterms, leading to high-profile hearings and administration officials. Rep. Frank D. Lucas (R-Okla.) said he would prefer to seek testimony from Gensler and other Biden administration officials before moving the CEOs of major financial firms such as BlackRock, the world’s largest asset manager. Lucas said he would recommend that approach to Rep. Patrick T. McHenry (RN.C.), who would become chairman of the Financial Services Committee if the chamber changes hands. And Rep. Blaine Luetkemeyer (R-Mo.) said he hopes to call the heads of the big three investment advisers — BlackRock, Vanguard and State Street — that have used their financial power to curb climate change and advance other causes that they are popular among liberals. McHenry was not immediately available for an interview. The SEC did not respond to a request for comment. “Return to Vigilance” If Republicans take the House in the midterm elections but Democrats retain the Senate, CEOs of major financial firms could face a climate blow. Conservative House lawmakers could criticize companies for their “ESG political bias,” as former Vice President Mike Pence recently described sustainable investing, while on the other side of Capitol Hill, liberal senators could criticize companies for not enough to reduce greenhouse gases. emissions that cause climate change. “We’ve become the loud noise in their right ear after all the screaming in their left ear,” Sen. Kevin Cramer (RN.D.) said of Wall Street firms. In a statement, Senate Banking Committee Chairman Sherrod Brown (D-Ohio) said he will continue to hold the CEOs of major banks accountable for how they serve their customers and treat their employees and bring them to Capitol Hill to answer themselves. “We know that when Wall Street neglects communities of color and ignores long-term risks like climate change, workers, retail investors and consumers are the ones who pay the price,” Brown said. A banking industry official, who spoke on condition of anonymity because he was not authorized to comment publicly, said it is ironic that Republicans are trying to tell businesses not to embrace climate-conscious investing even though the GOP usually extols the virtues of the free market. “Historically, progressives have been more comfortable pushing the private sector to support their initiatives, while many conservatives have believed that the private sector should be free to make the decisions they want to make,” the official said. “That has certainly been reversed in recent years. And I think it’s because some conservatives felt they lost the battle and these companies were drifting toward vigilantism.”

Harris is asking for $13 billion to lower energy costs in Boston Vice President Harris will travel to Boston on Wednesday to highlight White House efforts to lower energy costs for American families, including more than $13 billion in new funding authorized by the Inflation Reduction Act and other laws. Harris will visit a training facility for sheet metal workers, where she will announce that the Energy Department will make nearly $9 billion available to states and tribes under home energy efficiency programs established by the Climate Act. Additionally, the vice president will announce that the Department of Health and Human Services will provide $4.5 billion in assistance to help families reduce home heating costs this winter through the Low-Income Home Energy Assistance Program. “We know that winter heating bills account for the largest share of low-income households’ energy needs, so it is imperative that funds reach households as efficiently and effectively as possible,” a senior government official told reporters on Tuesday. , speaking on condition of anonymity to preview the trip. Joining Harris in Boston will be members of the Sheet Metal, Air, Railroad and Transportation International Union who install and maintain electric heat pumps.

After Ian, Florida’s waterways could remain polluted for months In the weeks since Hurricane Ian left a trail of destruction in Florida, millions of gallons of raw sewage have been reported to the state’s Department of Environmental Protection, Kasha Patel and Steven Mufson of the Washington Post report. As of mid-October, water in several areas of Southwest Florida was six to 10 times the state’s safe limit for the types of bacteria found in feces, such as E. coli and enterococci. These bacteria can cause urinary tract infections, life-threatening heart inflammation, and other serious infections. “I’ve been working on this for almost 30 years and I’ve never come across anything of this scale and magnitude,” said Jennifer Hecker, executive director of the Coast & Heartland National Estuary Partnership, part of the Environmental Protection Agency’s National Estuary. Program. Experts said a return to clear waterways could take months, depending on how quickly natural weather systems and ocean circulation can flush pollutants from rivers and estuaries. They added that many of the post-Ian water quality issues could have been prevented by investing in upgrading sewer lines and other aging infrastructure.

Toxic metal pollution 10 times worse in racially segregated communities, study finds Residents of racially segregated neighborhoods in the United States are exposed to toxic airborne metals at a rate nearly 10 times higher than more well-integrated areas, according to a study published Tuesday in the journal Nature Communications, reports Amudalat Ajasa of The Post. It has long been known that communities of color bear a disproportionate burden of pollution. But the study puts a finer point on this disparity—it documents that people in segregated communities breathe in much higher levels of some toxic heavy metals. Specifically, the study detected higher levels of lead, nickel, copper, zinc, iron and vanadium. Exposure to high levels of lead can cause kidney and brain damage, according to the Centers for Disease Control and Prevention, and can harm fetuses if a pregnant woman is exposed. Environmental justice advocates were not entirely surprised by the findings, given the nation’s history of discriminatory housing and development practices that forced people of color to live near polluting facilities. But they said the study reinforces the need to correct past inequities. “We must continue to center black communities and communities of color in any solutions and investments related to environmental injustices,” said Abre’ Conner, NAACP director of environmental and climate justice.

Three major developments in 2022 could change the world’s climate trajectory Over the past year, positive developments that once seemed unlikely have created a better international outlook for fighting climate change, reducing the chances that global warming will exceed the worst predictions of recent years, Michael Birnbaum reports for The Post. In particular, climate advocates took part in three recent developments that were far from certain: Sunday’s victory by Luiz Inácio Lula da Silva in…