Texas’ largest electric utility last night tentatively approved a record $45 billion takeover bid by two private equity firms in a deal hailed by environmentalists as a major turning point in the battle against global warming. The prospective owners of the TXU Corp. have told environmental groups that they would cancel eight of 11 coal plants proposed by the company and also back national legislation for mandatory reduction in carbon dioxide emissions.
"Lack of regulation makes for a Wild West of sustainable fund management", Edward Lander from Ethical Consumer said.
Leaders in the state’s environmental justice movement see signs their pressure is bringing accountability for both government and polluters.
This bold new mechanism is what’s needed to end fossil fuel-induced violence against women, natural resources, and the climate, argue two African peace activists.
Fossil fuel defendants in climate liability lawsuits keep losing in their bids to keep cases in federal courts.
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