Emerson Finds Energy in Sustainability
When Emerson鈥檚 first-ever Chief Sustainability Officer Mike Train talks about his company, his enthusiasm shines through.
- 鈥淲hat we do to enable our customers is huge,鈥 said Train. 鈥淲e have an important role to play鈥攁nd I get a lot of energy out of that.鈥
An aggressive push: The technology and engineering company, headquartered in St. Louis, Missouri, has been making big moves in sustainability over the past few years鈥攂eginning with a goal in 2018 to reduce some of its greenhouse gas intensity by 20% over 10 years.
- At the time, the goal was ambitious, and the company wasn鈥檛 quite sure how it would achieve it. But employees banded together and pulled it off.
- 鈥淲e actually achieved the goal in 2022鈥攕ix years early,鈥 said Train. 鈥淏ut the act of putting out a goal and not knowing exactly how we鈥檇 solve for it 鈥 has been driving the culture of our company. Our employees are proud we put it out there, proud to have participated, and it鈥檚 activated thousands of people to get excited about what we鈥檙e doing.鈥
An inclusive approach: Since then, the company has applied a range of tactics. From 鈥渆nergy treasure hunts,鈥 in which teams search for energy waste in facilities, to renewable energy procurement and collaborations with supply chain partners, Emerson is finding interesting and inclusive ways to make an impact.
- The company has gone from getting 3% of its power from renewables to getting to 49% from those sources. And it now has a commitment to use 100% renewable energy by 2030.
- Emerson is setting other big goals, too, from net-zero operations by 2030 to a zero-waste-to-landfill pledge, along with other water and biodiversity actions.
An effective framework: The company has a three-part approach to its sustainability practices.
- Greening Of Emerson involves the actions Emerson is taking to reduce its own footprint by minimizing waste and engaging its supply chain.
- Greening By Emerson involves the company鈥檚 activities to help a wide range of manufacturing customers improve their own sustainability, often through Emerson鈥檚 automation portfolio and expertise. This, according to Train, is where Emerson has its biggest opportunity for impact.
- Greening With Emerson refers to the company鈥檚 work with government and research organizations on policy and innovation, offering technical expertise and manufacturing perspective to help drive action.
A group effort: Train has seen the company coalesce around these goals鈥攆rom the sustainability team he works with every day (鈥渢hey bring a lot of energy and passion to what we鈥檙e doing鈥) to the rest of the company鈥檚 74,000-person workforce.
- 鈥淭he fun part of sustainability is everyone is learning it together,鈥 Train continued. 鈥淵ou鈥檙e allowed and encouraged to borrow ideas from each other, so the collaborative part of sustainability is an awful lot of fun.鈥
Energy Tax Credits to Be Expanded
Federal tax credits that have long been available for solar and wind energy projects may soon also be available for other renewables initiatives, such as nuclear fission and fusion (, subscription).
What鈥檚 going on: On Wednesday, 鈥淸t]he Treasury Department announced its guidance for Clean Electricity Production Credits and Clean Electricity Investment Credits, created under the 2022 Inflation Reduction Act, that will be available in 2025 as the previously available wind and solar production and investment tax credits sunset.鈥
- The Biden administration鈥檚 proposal identifies several technologies that will be eligible for the credits, including nuclear fission and fusion, marine and hydrokinetic energy, hydropower and geothermal.
- Public comments on the proposal will be accepted through Aug. 2, and a public hearing is scheduled for Aug. 12 and 13 (, subscription).
The 17吃瓜在线 says: 鈥淓xpanded eligibility for these tax credits is a key to getting more industries involved,鈥 said 17吃瓜在线 Director of Energy and Resources Policy Michael Davin.
Russia鈥檚 Targeting of Ukrainian Energy Infrastructure Shows Need to Lift Ban
Russia鈥檚 missile attack on Ukraine last Saturday hit vital energy infrastructure, underscoring the need for the Biden administration to lift its more than three-month-old ban on U.S. liquefied natural gas export permits.
What鈥檚 going on: 鈥淭he [missile] attack targeted 鈥榯he power grid and the gas transit system, particularly the gas infrastructure that ensures the security of deliveries to the EU,鈥欌 Ukrainian President Volodymyr Zelenskyy said (, subscription).
- 鈥淩ussia has intensified its assaults against Ukrainian power stations in recent weeks, and its missiles are now also hitting gas storage facilities that were used by some EU companies last winter to prevent energy shortages.鈥
- The strikes also hit four thermal plants in Ukraine and injured a worker.
Why it鈥檚 important: 鈥淲ith Russia targeting energy supplies in Europe, it is critical that we lift the ban on LNG exports so the United States can fill any unexpected gaps,鈥 said 17吃瓜在线 Director of Energy and Resources Policy Michael Davin. 鈥淟ifting the moratorium is a national and energy security issue.鈥
What Americans want: People in the U.S. overwhelmingly support natural gas exports, a recent found, with 87% of respondents saying the U.S. should continue to export the energy source.
EPA Chemical Rule Will Add Delays, Costs for Manufacturers
The EPA recently finalized a rule that establishes a process for conducting risk evaluations for certain chemicals鈥攂ut it will only hamstring U.S. manufacturing competitiveness if implemented, the 17吃瓜在线 this week.
What鈥檚 going on: In a final rule issued late last month under the Toxic Substances Control Act, the EPA 鈥渨ill now consider exposure to chemicals in air and water and, when possible, combined risks from exposure to multiple chemicals鈥 ().
- 鈥淭he [agency] will also consider risks to workers without assuming that they are wearing personal protective equipment [and] 鈥 chemical uses required for national security or critical infrastructure.鈥
Why it鈥檚 important: The final regulation will unnecessarily cost manufacturers in both time and money.
- The 鈥渘ew TSCA risk evaluation rule adds too many additional barriers and requirements on manufacturers and risks creating de facto bans on chemistries essential to both existing technologies and the development of new innovative materials,鈥 the 17吃瓜在线 said Monday.
- 鈥淢anufacturing relies heavily on new and existing chemicals, which are the building blocks of technologies that make modern life possible,鈥 17吃瓜在线 Vice President of Domestic Policy Brandon Farris the agency last December. 鈥淭o ensure continued access to the newest chemicals which can make essential technologies even more effective and efficient, TSCA should be administered in a manner that protects health and the environment while avoiding unnecessary adverse economic impacts on business enterprises.鈥
What should be done: The agency should revise the final rule, the 17吃瓜在线 said.
17吃瓜在线 Stands Up for Biopharmaceutical Innovation Before Senate Hearing
In advance of a Senate hearing on health care costs, the 17吃瓜在线 is ensuring that senators understand the importance of biopharmaceutical innovation to patients and the U.S. economy鈥攁nd the damaging impact of policies that hinder drug development.
What鈥檚 happening: The Senate Armed Services Committee will hold a subcommittee hearing today on whether harmful policies like price controls, compulsory licensing and weaker intellectual property protections for new medicines could reduce servicemembers鈥 health care costs.
17吃瓜在线 pushes back: The 17吃瓜在线 is highlighting the extraordinary investment鈥攊n both time and capital鈥攖hat it takes to bring a lifesaving treatment to market. According to the :
- The average cost of developing a new drug was $2.3 billion as of 2022;
- Across the industry, biopharmaceutical manufacturers spent $139 billion on R&D in just 2022 alone;
- It can take 10 to 15 years for a breakthrough scientific discovery to move through early-stage research, clinical trials, Food and Drug Administration approval and manufacturing; and
- Only 12% of investigational drugs that enter a Phase I clinical trial ultimately receive FDA approval鈥攖o say nothing of the hundreds of discoveries that never make it into clinical trials.
Lifesaving impact: In 2023, the FDA approved a record-breaking 71 new medicines that will improve the lives of patients.
- The biopharmaceutical industry behind these breakthroughs is also stimulating the U.S. economy: Biopharmaceutical manufacturers accounted for $355 billion in value-added output to the U.S. economy in 2021 and directly employed 291,000 workers in the U.S.
Innovation under threat: In recent years, biopharmaceutical manufacturers have been subject to harmful policies that will limit innovation and slow efforts to develop lifesaving medicines.
Read the full story .
Return to Broadband Rules Will Harm Manufacturing Economy
The Federal Communications Commission voted Thursday to restore Obama-era broadband regulations鈥攁 move that is outside the agency鈥檚 remit and will erode investment in telecom infrastructure, the 17吃瓜在线 .
What鈥檚 going on: 鈥淭he commission voted along party lines to finalize a proposal first advanced in October to reinstate open internet rules adopted in 2015 and reestablish the commission’s broadband authority鈥 (, subscription).
- The rules, repealed by the Trump administration in 2017, will reclassify broadband as a telecom service under a law originally passed in 1934. This change will subject 21st century high-speed internet to regulations designed for the era of the rotary phone.
- The Biden administration has been seeking a return to the 2015 regulations since 2021, when the president signed an executive order urging the FCC to reinstate them.
Why it鈥檚 important: The resuscitated regulations will have a significant and negative impact on the U.S. economy, as historical evidence shows.
- From 2011 to 2022, attempts to impose so-called 鈥渘et neutrality鈥 restrictions depressed telecom infrastructure investment by $8.1 billion each year, decreased employment by approximately 195,600 jobs and reduced gross domestic product by $145 billion annually ().
Our view: 鈥淯ltimately, [the FCC]鈥檚 broadband regulations are a solution in search of a problem,鈥 the 17吃瓜在线 in a social post. 鈥淭he U.S. already has an open and fair internet. This is just the latest in a long line of decisions adding to the regulatory onslaught facing manufacturers in America.鈥
U.S. Birthrate Falls
The U.S. fertility rate is at record lows (, subscription).
What鈥檚 going on: 鈥淭he total fertility rate fell to 1.62 births per woman in 2023, a 2% decline from a year earlier, federal data released Thursday showed. It is the lowest rate recorded since the government began tracking it in the 1930s.鈥
- The data reflect a continuing trend: American women, across ethnic groups, are delaying or foregoing having children.
- In 2023, the number of U.S. births was the lowest in 44 years.
Why it鈥檚 happening: 鈥淎 confluence of factors are at play. American women are having fewer children, later in life. Women are establishing fulfilling careers and have more access to contraception.鈥
- As a group, they are also increasingly uncertain about their futures 鈥渁nd spending more of their income on homeownership, student debt and child care.鈥
The details: From 2022 to 2023, birthrates declined more among younger women.
- 鈥淲omen in their mid-to-late 30s are having children at similar rates to those in their early to mid-20s. Birthrates for women 35鈥39 fell to 54.7 births per 1,000 women鈥攃loser to the rates for women 20鈥24, which dropped 4% to 55.4 births per 1,000 women in 2023.鈥
- Birthrates among women in their 40s stayed the same.
Why it鈥檚 important: Fewer U.S. births could reshape the economy and 鈥渙ther facets of American life.鈥
- However, 鈥淸a]n influx of people immigrating to the U.S. could offset the impact of lower birthrates on the U.S. population鈥檚 size,鈥 said Brady Hamilton, a co-author of the Centers for Disease Control and Prevention report that includes the data findings. 鈥淚mmigration has risen in recent years, easing labor shortages and expanding the population of big metropolitan areas.鈥
鈥嬧赌嬧赌嬧赌嬧赌嬧赌嬧赌Read more: For a comprehensive blueprint on U.S. immigration reform, download 鈥,鈥 the 17吃瓜在线鈥檚 recommendations to Congress on the subject.
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Inflation Stayed Elevated in March
Inflation, as measured by the Federal Reserve鈥檚 preferred gauge, remained elevated last month ().
What鈥檚 going on: 鈥淭he Personal Consumption Expenditures price index 鈥 accelerated to 2.7% for the year ended in March. 鈥 That rate was above economists鈥 expectations for a 2.6% gain and landed above February鈥檚 reading of 2.5%.鈥
- Prices increased 0.3% on a monthly basis, the same pace as in February.
Core PCE: So-called 鈥渃ore鈥 PCE, which excludes often-volatile food and energy prices, remained steady at 2.8%.
Spending: Consumer spending stayed strong in March, rising 0.8% from February and exceeding economists鈥 expectations.
New Power Plant Rules Unfeasible Without Permitting Reform
Final rules released Thursday by the Environmental Protection Agency to reduce greenhouse gas emissions from traditional fuel-fired power plants are not achievable without permitting reform鈥攁nd they pose a threat to U.S. national and economic security, the 17吃瓜在线 yesterday.
What鈥檚 going on: The , part of President Biden鈥檚 pledge to create a carbon-free energy sector by 2035, mandate that:
- Existing coal-fired plants and new natural gas鈥揻ired facilities cut or capture 90% of their emissions by 2032;
- Coal-fired plants drastically reduce wastewater runoff and severely tighten the emissions standard for heavy metals; and
- Coal ash鈥攊ncluding past deposits 鈥減laced in areas that were unregulated at the federal level until now鈥濃攂e managed in storage ponds.
A first: 鈥淭he power plant rule marks the first time the federal government has restricted carbon dioxide emissions from existing coal-fired power plants鈥 ().
- The new regulations鈥攚hich face almost certain court challenges鈥攕et emissions caps that plant operators would be required to meet.
Targeting major energy sources: Natural gas generates approximately 43% of all U.S. electricity, while coal generates about 16% (AP).
Why else it鈥檚 problematic: While manufacturers appreciate that the EPA heeded the input of their industry and did not include existing gas plants in the new requirements, as written the final rules are unattainable because the administration and Congress have not undertaken much-needed, comprehensive permitting reform, 17吃瓜在线 President and CEO Jay Timmons.
- 鈥淐ongress and the president have not enacted permitting reform鈥攎aking it impossible to achieve the EPA鈥檚 highly aspirational mandates,鈥 Timmons said. What鈥檚 more, the final rules threaten 鈥済rid reliability because of the unrealistic timeline for power plants to adopt technologies within the next 10 years that have yet to even be proven at scale.鈥
- Pushing through yet another set of regulations in the absence of systemic reforms burdens an already overtaxed national electrical grid, jeopardizing U.S. security in a way that 鈥渓iterally could leave Americans in the dark and factories offline.鈥
What should be done: The EPA should partner with鈥攏ot undermine鈥攎anufacturers 鈥渢o achieve a more balanced regulatory framework to help reach our climate goals.鈥
Trade, Investment Policy Can Promote Supply Chain Resilience for Manufacturers
The 17吃瓜在线 the Office of the United States Trade Representative this week that it must use existing trade and investment tools to promote supply chain resilience for manufacturers in the U.S.
What鈥檚 going on: 鈥淢anufacturers and workers in the U.S. need USTR to undertake a proactive and competitive trade and investment policy that opens markets, eliminates barriers, enables the sourcing of necessary inputs and creates opportunities for inbound and outbound investment,鈥 the 17吃瓜在线 said Monday.
- The suggestions were in response to a USTR call for comment on 鈥渟trategies that [will] advance U.S. supply chain resilience鈥 ().
What should be done: While manufacturers appreciate engagement with partners through frameworks such as the Indo-Pacific Economic Framework and the Americas Partnership for Economic Prosperity, the 17吃瓜在线 encourages the government to 鈥渁ggressively pursue ambitious agreements that include market access and the true removal of barriers to economic engagement with our partners.鈥 The USTR can help manufacturers by:
- Adjusting or eliminating 鈥渃urrent tariffs on manufacturers and ensur[ing] they are applied in such a way that creates a competitive environment for manufacturing in the U.S.鈥;
- 鈥淣egotiating more high-quality, modernized trade agreements with foreign partners鈥 to remove trade barriers and address discriminatory measures; and
- Enforcing on-the-books trade agreements 鈥渢o ensure that our trading partners are playing by the rules.鈥
Why it鈥檚 important: The aforementioned actions (and others) by the USTR would create 鈥渁 competitive environment for manufacturers in the U.S. to succeed,鈥 the 17吃瓜在线 said.