Climate and Environment

Gensler’s first order of business at the SEC will be to reverse Trump’s deregulatory agenda and rebuild the agency’s capacity to police American stock-trading. But this should only be a starting point: SEC activity was insufficient even under Obama, and issues linked to the financial system, from climate change to inequality, have worsened in the four intervening years.

One role that remains unfilled will be vital to enacting Biden’s policy agenda: the administrator of the Office of Information and Regulatory Affairs (OIRA). Although many Americans have never heard of OIRA, the office is well known among corporate lobbyists, who take full advantage of its ability to stop regulations in their tracks. Since the Reagan administration, OIRA has earned a reputation as “the death row of well-meaning legislation.”

After news broke that Michael Regan, who currently leads the North Carolina Department of Environmental Quality, was the new frontrunner to lead the EPA — and was also being considered to be director of the EPA’s Southeast Region Office — environmental justice leaders in North Carolina began pushing back immediately.

Environmentalists and foreign policy activists shouldn’t overlook appointments to agencies outside of their usual portfolios.

Mary Nichols, the reported frontrunner to lead Biden’s Environmental Protection Agency, has been appointed four times to the California Air Resources Board (CARB) and is best known for spearheading California’s cap-and-trade program. Since the program began, California’s carbon emissions from its oil and gas industry rose 3.5%. For a state that would have the fifth-largest economy if it were a country, anything but a significant and ongoing decline in carbon emissions is disastrous.

From 2008 – 2016, Brian Deese rose from a law student to a Presidential advisor on fiscal policy, climate change, and trade. Deese’s personal geniality and intelligent demeanor drove this rise — but a review of his policy positions reveals a history of backing wildly incorrect conventional wisdom convivial to the powers that be.

The fossil fuel industry depends on financial institutions to survive. And banks, for their part, pull in big profits from underwriting climate disaster. That’s why, if Joe Biden wins in November, his pick for Treasury Secretary must be an aggressive advocate for climate action. The Treasury Department has untapped capacity to push financial institutions and insurance companies to take the risks of the climate crisis seriously. While his legislative proposals elicit proper close scrutiny, his choice of Treasury Secretary is arguably among Biden’s most important climate policy decisions.

Incalculable, world-historic pain and suffering are already happening as a result of the climate crisis. Yet the forces of big business responsible — most especially the fossil fuel industry, but also Big Ag, the military-industrial complex, and others — continue to spend tens of millions every year blackmailing American leaders into softballing or even ignoring the literal end of the world as we know it.

Summers’ influence has directly exacerbated our climate crisis by repeatedly halting any meaningful attempt at curbing the crisis.