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Amid SAB Review, EPA Downplays Fears Cost Plan Targets Co-Benefits

As EPA’s Science Advisory Board (SAB) launches a review of the agency’s proposal to overhaul its cost-benefit procedures for developing Clean Air Act policies, EPA officials are seeking to downplay concerns that the plan would undermine the value of “co-benefits” of reduced air pollution not directly targeted by a rule.

A bipartisan group of six former EPA administrators is endorsing a series of recommendations from former agency staff and political officials to “reset” the agency so that it can tackle looming major environmental issues such as climate change with a forward-looking plan that includes removing politics from its scientific and economic analyses.

Sustainability analysts at BlackRock, the world’s largest asset manager, are warning that many investors are overlooking the major financial risks from “water stress” that will worsen in the future due to climate change, underscoring water issues as a top climate-related financial risk.

The first state compliance plan under EPA’s Affordable Clean Energy (ACE) climate rule for existing power plants is expected “soon,” according to the agency’s de facto air chief, who described it as a chance for her office to demonstrate how it will work with states to implement the rule.