Originally published on Climate Progress.
By Samantha Page
Climate change costs an incredible amount of money. Whether it is deaths during heat waves, reconstruction after a superstorm, or even lost revenues at ski slopes, rising temperatures and increased extreme weather events are costing the economy. In fact, Citibank reported earlier this year that it will cost $44 trillion worldwide by 2060 to mitigate the costs of climate change under the business as usual scenario.
But efforts to include those costs in permitting projects just took another hit, when the House voted to pass the RAPID Act, a bill intended to streamline permitting processes. Tucked into the bill is language that will prohibit the Environmental Protection Agency from considered the social cost of carbon during permitting.
The bill, which passed largely down party lines Friday afternoon, specifically prohibits federal agencies from following draft guidance from the White House Council on Environmental Quality for “consideration of greenhouse gas emissions and the effects of climate change” in environmental reviews. Further, under the RAPID Act, any permit request that is not addressed by the agency deadline will be automatically approved.
Read more: House Votes To Keep EPA From Considering Costs Of Climate Change
Reprinted with permission.
Sign up for daily news updates from CleanTechnica on email. Or follow us on Google News!
Have a tip for CleanTechnica, want to advertise, or want to suggest a guest for our CleanTech Talk podcast? Contact us here.
Electrifying Industrial Heat for Steel, Cement, & More
I don't like paywalls. You don't like paywalls. Who likes paywalls? Here at CleanTechnica, we implemented a limited paywall for a while, but it always felt wrong — and it was always tough to decide what we should put behind there. In theory, your most exclusive and best content goes behind a paywall. But then fewer people read it! We just don't like paywalls, and so we've decided to ditch ours. Unfortunately, the media business is still a tough, cut-throat business with tiny margins. It's a never-ending Olympic challenge to stay above water or even perhaps — gasp — grow. So ...