January, 25 2011, 02:09pm EDT
SEC Executive Pay Rules Are a Key Step
Statement of Lisa Gilbert, Deputy Director of Public Citizen’s Congress Watch Division
WASHINGTON
Today in an expected 3-2 vote, the Securities and Exchange Commission
adopted important final rules on "say on pay." Due to these rules,
public companies will now need to submit their executive compensation
for a non-binding shareholder vote.
Public Citizen applauds this as an important step following the passage of Wall Street reform legislation.
Investors who own shares in a company should have a say in the
compensation of their executives and on the golden parachutes given to
departing CEOs.
This rulemaking is a key step in the right direction toward stopping
the billion-dollar bonuses that incentivize risk and destabilize our
economy.
Public Citizen is a nonprofit consumer advocacy organization that champions the public interest in the halls of power. We defend democracy, resist corporate power and work to ensure that government works for the people - not for big corporations. Founded in 1971, we now have 500,000 members and supporters throughout the country.
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'Should Be a Global Wake-Up Call': Coral Reefs Suffer Fourth Mass Bleaching Event
"The announcement of the fourth global bleaching event is an urgent call to do two things: reduce greenhouse gas emissions and work together to prioritize resilient coral reefs for conservation."
Apr 16, 2024
Scientists said Monday that the world's coral reefs are facing a fourth global bleaching event as the fossil fuel-driven climate emergency pushes ocean temperatures to record highs, imperiling the critical underwater ecosystems that sustain thousands of species.
The National Oceanic and Atmospheric Administration (NOAA) and the International Coral Reef Initiative (ICRI)—which NOAA co-chairs—said they documented coral bleaching in the northern and southern hemispheres of every major ocean basin on Earth between February 2023 and April of this year. It could be the worst global bleaching event on record.
"Since early 2023, mass bleaching of coral reefs has been confirmed throughout the tropics including Florida in the U.S.; the Caribbean; Brazil; the eastern Tropical Pacific (including Mexico, El Salvador, Costa Rica, Panama, and Colombia); Australia's Great Barrier Reef; large areas of the South Pacific (including Fiji, Vanuatu, Tuvalu, Kiribati, the Samoas, and French Polynesia); the Red Sea (including the Gulf of Aqaba); the Persian Gulf; and the Gulf of Aden," the organizations said in a statement.
"NOAA has received confirmation of widespread bleaching across other parts of the Indian Ocean basin as well, including in Tanzania, Kenya, Mauritius, the Seychelles, Tromelin, Mayotte, and off the western coast of Indonesia," they added.
"More than half the reefs on the planet have basically experienced bleaching-level heat stress in the last year."
Derek Manzello, coordinator of NOAA's Coral Reef Watch, said that "as the world's oceans continue to warm, coral bleaching is becoming more frequent."
Excessively warm water causes corals to expel algae from their tissues, causing the organisms to turn white. While they can recover, such bleaching is evidence that corals are under significant stress and at risk of death.
The latest global bleaching event is the second in the last 10 years and "should be a global wake-up call," Manzello toldThe Washington Post.
"More than half the reefs on the planet have basically experienced bleaching-level heat stress in the last year," said Manzello.
NOAA and ICRI's statement comes as scientists around the world are voicing growing alarm over high ocean temperatures. Research released last month showed that global ocean surface temperatures had broken records every day of the year up to that point, underscoring the need to aggressively rein in fossil fuel production and use.
"Temperatures are off the charts," Emily Darling, director of coral reefs at the Wildlife Conservation Society, said Monday. "While many corals are suffering from extreme heat stress and bleaching, some locations and species show different types of natural resilience. Finding and conserving these priority coral reefs are critical to any global strategy to safeguard the planet's oceans and blue economies."
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Apr 15, 2024
The Center for Biological Diversity on Monday lamented what it called the Biden administration's failure to improve "outdated" limits on nitrogen and soot air pollution.
The U.S. Environmental Protection Agency (EPA) proposed keeping existing secondary national ambient air quality standards for sulfur and nitrogen oxides after estimating that new benchmarks previously put forth would result in reduced pollution from sources including coal-fired power plants.
However, Center for Biological Diversity (CBD) staff attorney Ryan Maher argued that "the EPA failed to seize this important opportunity to better protect plants and animals from these toxic pollutants."
"Since the EPA's last review of these pollution standards, the science showing the ecological harm from soot, sulfur, and nitrogen air pollution has become more certain."
"Since the EPA's last review of these pollution standards, the science showing the ecological harm from soot, sulfur, and nitrogen air pollution has become more certain," Maher added. "Rather than aligning its standards with this new research, the EPA has chosen to perpetuate dangerous levels of air pollution."
The Clean Air Act requires the EPA to set primary, or health-based, and secondary, or welfare-based, "national ambient air quality standards" for pollutants including sulfur oxides, nitrogen oxides, and particulate matter—better known as soot. However, the EPA has failed to update the secondary standards for nitrogen and sulfur air pollution for more than half a century. Key portions of the EPA's secondary soot standards also haven't been updated in decades.
According to the CBD:
The agency published today's proposal under an agreement that resulted from a 2022 lawsuit brought by the Center for Biological Diversity and the Center for Environmental Health. That agreement requires the agency to finalize its decision on the air quality standards no later than December 10, 2024.
The agency will hold a virtual public hearing on the proposed rule on May 8.
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Separately, green groups including Earthjustice, Sierra Club, California Communities Against Toxins, and Southwestern Environmental Law Center on Monday welcomed the EPA's decision to deny an industry petition to delist energy turbines as a major source of air pollution.
"Today's decision upholds critical environmental protections that are essential for safeguarding public health, particularly in communities that have historically borne the brunt of industrial pollution," Earthjustice director of federal clean air practice James Pew said in a statement.
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Six young activists were arrested outside Vice President Kamala Harris' Los Angeles home on Monday while calling on the White House to declare a climate emergency, according to the youth-led Sunrise Movement.
Harris and President Joe Biden–Democrats who are seeking reelection in November—campaigned as climate champions in the 2020 cycle but have had a mixed record on the topic since entering office.
"My generation is spending our teenage years organizing for climate action because people like Kamala Harris have failed us," said Adah Crandall, one of the activists arrested after blockading the street outside her California residence overnight.
"We're ready to do whatever it takes to win a climate emergency declaration—we will camp out overnight, we will get arrested, we will mobilize our peers by the thousands to win the world we deserve," the 18-year-old continued. "The Biden administration are cowards for not standing with young people."
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Just last week, the Biden administration approved a license for a pipeline company to build the nation's largest offshore oil terminal off of Texas' Gulf Coast—despite surging fossil fuel pollution that is pushing up global temperatures.
Sunrise last week condemned the approval as "very disappointing" and also joined with Campus Climate Network and Fridays for Future USA to announce Earth Day demonstrations intended to pressure Biden to declare a climate emergency.
Biden
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