Connect with us

Published

on

Originally published by Union of Concerned Scientists, The Equation.
By Rachel Cleetus 

In the last week, Senator Manchin (D-WV) has become increasingly public with his opposition to the Clean Electricity Performance Program (CEPP), a policy designed to drive down power sector carbon emissions which is part of the reconciliation bill under consideration in Congress. With the vote margins so slim in Congress, his stance significantly jeopardizes the chances that this vital policy will survive the legislative process. At a time when the devastating, costly, and inequitable impacts of climate change around the nation — including worsening flooding in West Virginia — could not be clearer, it is deeply disturbing to see the Senator actively undermining policies that would help drive down heat-trapping emissions and protect people.

The budget reconciliation package for the Build Back Better Act, which was approved by House committees in September, marked a massive turning point in how the United States aims to address climate change, prioritize environmental justice, and create good paying jobs for working people. The package also addresses long-standing social and economic needs — including healthcare, education, elder care, and childcare. And if the climate and clean energy provisions in the package stay robust and fully funded, they would also put the nation firmly on the path to cutting emissions in half by 2030, a goal the Biden administration has committed to as part of the U.S. contribution to global efforts to limit climate change.

Simply put, the reconciliation bill is a much needed and long overdue investment in the well-being of our people and the future of our country.

But now, thanks to the intransigence of Senator Manchin, a key provision to help reduce emissions — the Clean Electricity Performance Program — is at risk of being removed from the package, and no clear alternative to cut power sector emissions has been put forth in its place. Given that the Senator does acknowledge climate change is real, this is hard to understand.

Even more egregiously, the Senator is now claiming that the nation’s clean energy transformation has already been achieved! That is simply untrue. Our nation still gets about 60 percent of its power from fossil fuels and the EIA forecasts that after declining by 19 percent in 2020 due to the pandemic-related economic crisis, coal-related carbon dioxide emissions will rise by 20 percent in 2021. Meanwhile, we need to sharply bend that emissions curve, cutting U.S. heat-trapping emissions at least in half and getting to an 80 percent clean power sector by 2030. Analysis by UCS and others shows that this goal is within reach — but we need to implement strong policies to get going right away.

Further, the overall scale of the reconciliation bill is also under attack, meaning that all of its valuable provisions — including climate and environmental justice priorities — are under threat of being cut out or severely down-scaled. Given the magnitude and severity of the crises of climate change, economic inequality, and environmental injustice our nation faces, all colliding with the ongoing COVID-19 pandemic, this is no time for Congress to shortchange the legitimate and pressing needs of people while indulging in corporate welfare to benefit the rich and powerful.

What’s all too clear from the latest developments is that the power of the fossil fuel lobby to block progress on climate action still reigns strong in Congress. Senator Manchin’s financial stake in the coal industry is well documented. His seeking to cut the CEPP calls into question whether he is prioritizing and protecting fossil fuel industry interests — which include his own — over his constituents’.

He is not alone. Senator Sinema (D-AZ) is also seeking to sharply reduce the investments in the reconciliation bill, and she has very recently held fundraisers with major industry groups opposed to provisions in the Build Back Better agenda.

And let’s not forget that every single Republican in Congress has failed to support the reconciliation bill (or any other serious policy to address climate change for that matter). What a shameful situation for these policymakers to abdicate their responsibilities as elected officials even as climate change, economic inequity, and environmental injustices strike at the hearts of communities all over the country in both red and blue states!

At this pivotal moment, when our ambitions to protect future generations from the ravages of climate change hang in the balance, let us speak plainly about what these members of Congress are doing: they are putting their narrow self-interests and the interests of the fossil fuel industry above that of their constituents. They are squandering the precious little time we have, the narrow window we have left to avert a climate catastrophe, on business-as-usual politics.

Knowing full well the devastating wildfires, heatwaves, drought, intensifying storms and flooding that the country has experienced this year — the 18 billion dollar-plus extreme weather and climate-related disasters so far this year that took 538 lives–these members of Congress choose to protect the fossil fuel industry.

Knowing full well the extreme rainfall and devastating floods that are becoming increasingly commonplace in West Virginia, and the extreme heat, drought and wildfires affecting the people of Arizona, Senators Manchin and Sinema aren’t willing to invest what’s necessary to secure a clean energy future and are thus enabling the status quo.

Knowing full well that hard-working coal miners and their communities — who have helped keep the lights on for generations — deserve investments that can help them create a prosperous and healthy future in West Virginia, Senator Manchin is seeking sharp cuts in the bill that would affect investments vital to West Virginians, including investments in social safety net programs, infrastructure, and clean energy, while protecting his financial stake in coal.

Knowing full well that fossil fuels are dirty and polluting and impose an outsize health burden on Black, Brown, Indigenous and low-income communities, these members of Congress choose to prolong that burden to prolong fossil fuel profits.

Knowing full well that in this consequential decade we must make a sharp turn away from fossil fuels to have a fighting chance of leaving our children and grandchildren a livable planet, these members of Congress choose to rely on funding from the fossil fuel industry to secure their next term in office.

Knowing full well that the U.S. stands to lose coastal properties by the millions; be exposed to dangerous summer heat unsafe for outdoor work and play; that our cities, vital infrastructure, and lives will be upended by worsening storms, floods, and fires; and that we will lose invaluable species and ecosystems, they choose to let emissions from the fossil fuel industry continue to rise.

Knowing full well that a just and equitable transition to clean energy would also be a boon for public health, job creation, and the economy, they choose to let the fossil fuel industry dictate our future.

That choice they are making is unconscionable. That choice is gravely consequential for young people around the world, today and in the future. We can have a thriving, equitable, clean, and climate-resilient economy if we are courageous enough to seize this momentous opportunity today.

Senators Manchin and Sinema, Republican members of Congress, what do you want your legacy to be? Will you be among those willing to stand up for a bold vision of a future that is clean and just, with benefits for all communities? Will you stand behind the scale of investments necessary to secure that future?

We will continue to fight alongside a diverse and powerful movement for all the incredibly important components of the reconciliation bill that are vital for our nation’s prosperity, especially those that ensure just and equitable climate action. And we urge members of Congress and the Biden administration to stop allowing fossil fuel politics to win the day when so much is at stake for our children and grandchildren.

 

Appreciate CleanTechnica’s originality? Consider becoming a CleanTechnica Member, Supporter, Technician, or Ambassador — or a patron on Patreon.

 

 


Advertisement



 


Have a tip for CleanTechnica, want to advertise, or want to suggest a guest for our CleanTech Talk podcast? Contact us here.

Continue Reading

Environment

Robinhood is up 160% this year, but several obstacles are ahead

Published

on

By

Robinhood is up 160% this year, but several obstacles are ahead

Florida AG opens probe into Robinhood. Here's the latest

Robinhood stock hit an all-time high Friday as the financial services platform continued to rip higher this year, along with bitcoin and other crypto stocks.

Robinhood, up more than 160% in 2025, hit an intraday high above $101 before pulling back and closing slightly lower.

The reversal came after a Bloomberg report that JPMorgan plans to start charging fintechs for access to customer bank data, a move that could raise costs across the industry.

For fintech firms that rely on thin margins to offer free or low-cost services to customers, even slight disruptions to their cost structure can have major ripple effects. PayPal and Affirm both ended the day nearly 6% lower following the report.

Despite its stellar year, the online broker is facing several headwinds, with a regulatory probe in Florida, pushback over new staking fees and growing friction with one of the world’s most high-profile artificial intelligence companies.

Florida Attorney General James Uthmeier opened a formal investigation into Robinhood Crypto on Thursday, alleging the platform misled users by claiming to offer the lowest-cost crypto trading.

“Robinhood has long claimed to be the best bargain, but we believe those representations were deceptive,” Uthmeier said in a statement.

The probe centers on Robinhood’s use of payment for order flow — a common practice where market makers pay to execute trades — which the AG said can result in worse pricing for customers.

Robinhood Crypto General Counsel Lucas Moskowitz told CNBC its disclosures are “best-in-class” and that it delivers the lowest average cost.

“We disclose pricing information to customers during the lifecycle of a trade that clearly outlines the spread or the fees associated with the transaction, and the revenue Robinhood receives,” added Moskowitz.

Robinhood CEO Vlad Tenev explains 'dual purpose' behind trading platform's new crypto offerings

Robinhood is also facing opposition to a new 25% cut of staking rewards for U.S. users, set to begin October 1. In Europe, the platform will take a smaller 15% cut.

Staking allows crypto holders to earn yield by locking up their tokens to help secure blockchain networks like ethereum, but platforms often take a percentage of those rewards as commission.

Robinhood’s 25% cut puts it in line with Coinbase, which charges between 25.25% and 35% depending on the token. The cut is notably higher than Gemini’s flat 15% fee.

It marks a shift for the company, which had previously steered clear of staking amid regulatory uncertainty.

Under President Joe Biden‘s administration, the Securities and Exchange Commission cracked down on U.S. platforms offering staking services, arguing they constituted unregistered securities.

With President Donald Trump in the White House, the agency has reversed course on several crypto enforcement actions, dropping cases against major players like Coinbase and Binance and signaling a more permissive stance.

Even as enforcement actions ease, Robinhood is under fresh scrutiny for its tokenized stock push, which is a growing part of its international strategy.

The company now offers blockchain-based assets in Europe that give users synthetic exposure to private firms like OpenAI and SpaceX through special purpose vehicles, or SPVs.

An SPV is a separate entity that acquires shares in a company. Users then buy tokens of the SPV and don’t have shareholder privileges or voting rights directly in the company.

OpenAI has publicly objected, warning the tokens do not represent real equity and were issued without its approval. In an interview with CNBC International, CEO Vlad Tenev acknowledged the tokens aren’t technically equity shares, but said that misses the broader point.

JPMorgan announces plans to charge for access to customer bank data

“What’s important is that retail customers have an opportunity to get exposure to this asset,” he said, pointing to the disruptive nature of AI and the historically limited access to pre-IPO companies.

“It is true that these are not technically equity,” Tenev added, noting that institutional investors often gain similar exposure through structured financial instruments.

The Bank of Lithuania — Robinhood’s lead regulator in the EU — told CNBC on Monday that it is “awaiting clarifications” following OpenAI’s statement.

“Only after receiving and evaluating this information will we be able to assess the legality and compliance of these specific instruments,” a spokesperson said, adding that information for investors must be “clear, fair, and non-misleading.”

Tenev responded that Robinhood is “happy to continue to answer questions from our regulators,” and said the company built its tokenized stock program to withstand scrutiny.

“Since this is a new thing, regulators are going to want to look at it,” he said. “And we expect to be scrutinized as a large, innovative player in this space.”

SEC Chair Paul Atkins recently called the model “an innovation” on CNBC’s Squawk Box, offering some validation as Robinhood leans further into its synthetic equity strategy — even as legal clarity remains in flux across jurisdictions.

Despite the regulatory noise, many investors remain focused on Robinhood’s upside, and particularly the political tailwinds.

The company is positioning itself as a key beneficiary of Trump’s newly signed megabill, which includes $1,000 government-seeded investment accounts for newborns. Robinhood said it’s already prototyping an app for the ‘Trump Accounts‘ initiative.

WATCH: Watch CNBC’s full interview with Robinhood CEO Vlad Tenev

Watch CNBC's full interview with Robinhood CEO Vlad Tenev

Continue Reading

Environment

Hyundai and Kia are betting on lower-priced EVs to ride out tariffs

Published

on

By

Hyundai and Kia are betting on lower-priced EVs to ride out tariffs

Korean auto giants Hyundai and Kia think lower-priced EVs will help minimize the blow from the new US auto tariffs. Hyundai is set to unveil a new entry-level electric car soon, which will be sold alongside the Kia EV2. Will it be the IONIQ 2?

Hyundai and Kia shift to lower-priced EVs

Hyundai and Kia already offer some of the most affordable and efficient electric vehicles on the market, with models like the IONIQ 5 and EV6.

In Europe, Korea, Japan, and other overseas markets, Hyundai sells the Inster EV (sold as the Casper Electric in Korea), an electric city car. The Inster EV starts at about $27,000 (€23,900), but Hyundai will soon offer another lower-priced EV, similar to the upcoming Kia EV2.

The Inster EV is seeing strong initial demand in Europe and Japan. According to a local report (via Newsis), demand for the Casper Electric is so high that buyers are waiting over a year for delivery.

Advertisement – scroll for more content

Hyundai is doubling down with plans to introduce an even more affordable EV, rumored to be the IONIQ 2. Xavier Martinet, CEO of Hyundai Motor Europe, said during a recent interview that “The new electric vehicle will be unveiled in the next few months.”

Hyundai-Kia-lower-priced-EVs
Hyundai Casper Electric/ Inster EV models (Source: Hyundai)

The new EV is expected to be a compact SUV, which will likely resemble the upcoming Kia EV2. Kia will launch the EV2 in Europe and other global regions in 2026.

Hyundai is keeping most details under wraps, but the expected IONIQ 2 is likely to sit below the Kona Electric as a smaller city EV.

Hyundai-Kia-lower-priced-EVs
Kia Concept EV2 (Source: Kia)

More affordable electric cars are on the way

Although nothing is confirmed, it’s expected to be priced at around €30,000 ($35,000), or slightly less than the Kia EV3.

The Kia EV3 starts at €35,990 in Europe and £33,005 in the UK, or about $42,000. Through the first half of the year, Kia’s compact electric SUV is the UK’s most popular EV.

Hyundai-Kia-lower-priced-EVs
Kia EV3 (Source: Kia)

Like the Hyundai IONIQ models and Kia’s other electric vehicles, the EV3 is based on the E-GMP platform. It’s available with two battery packs: 58.3 kWh or 81.48 kWh, providing a WLTP range of up to 430 km (270 miles) and 599 km (375 miles), respectively.

Hyundai is expected to reveal the new EV at the IAA Mobility show in Munich in September. Meanwhile, Kia is working on a smaller electric car to sit below the EV2 that could start at under €25,000 ($30,000).

Hyundai-Kia-lower-priced-EVs
Kia unveils EV4 sedan and hatchback, PV5 electric van, and EV2 Concept at 2025 Kia EV Day (Source: Kia)

According to the report, Hyundai and Kia are doubling down on lower-priced EVs to balance potential losses from the new US auto tariffs.

Despite opening its new EV manufacturing plant in Georgia to boost local production, Hyundai is still expected to expand sales in other regions. An industry insider explained, “Considering the risk of US tariffs, Hyundai’s move to target the European market with small electric vehicles is a natural strategy.”

Hyundai-Kia-lower-priced-EVs
2025 Hyundai IONIQ 5 (Source: Hyundai)

Although Hyundai is expanding in other markets, it remains a leading EV brand in the US. The IONIQ 5 remains a top-selling EV with over 19,000 units sold through June.

After delivering the first IONIQ 9 models in May, Hyundai reported that over 1,000 models had been sold through the end of June, its three-row electric SUV.

While the $7,500 EV tax credit is still here, Hyundai is offering generous savings with leases for the 2025 IONIQ 5 starting as low as $179 per month. The three-row IONIQ 9 starts at just $419 per month. And Hyundai is even throwing in a free ChargePoint Home Flex Level 2 charger if you buy or lease either model.

Unfortunately, we likely won’t see the entry-level EV2 or IONIQ 2 in the US. However, Kia is set to launch its first electric sedan, the EV4, in early 2026.

Ready to take advantage of the savings while they are still here? You can use our links below to find deals on Hyundai and Kia EV models in your area.

FTC: We use income earning auto affiliate links. More.

Continue Reading

Environment

Blink Charging just threw a lifeline to EVBox Everon customers

Published

on

By

Blink Charging just threw a lifeline to EVBox Everon customers

As EVBox shuts down its Everon business across Europe and North America, EV charging provider Blink Charging is stepping up to offer support to customers caught in the transition.

EVBox’s software arm Everon recently announced it’s winding down operations alongside EVBox’s AC charger business. That’s left a lot of charging station hosts and drivers wondering what comes next. Now, EVBox Everon is pointing its customers toward Blink as a recommended alternative.

Blink says it’s ready to help, whether that means keeping existing chargers up and running or replacing aging gear with new Blink chargers.

“EVBox has played a significant role in the growth of EV charging infrastructure across the UK and Mainland Europe, and we recognize the trust hosts have placed in its solutions,” said Alex Calnan, Blink Charging’s managing director of Europe. “With the recent announcement of Everon’s withdrawal from the EV charging market, it’s natural to have questions about what this means for operations. At Blink, we want to assure Everon customers that we are here to help them navigate this transition.”

Advertisement – scroll for more content

Blink says it’s able to offer advice, replacements, and ongoing network management to make the changeover as smooth as possible.

Everon users who switch to Blink will get access to the Blink Network portal via the Blink Charging app. That opens up real-time insight into charger usage and lets hosts set pricing, manage users, and download performance reports.

“At Blink, our charging technology is future-ready,” added Calnan. “With advancements like vehicle-to-grid technology on the horizon, our chargers are built to support the future of electric vehicles and charging habits.”

The company says its chargers are in stock and ready to ship now for any Everon customers looking to make the jump.

In October 2024, France’s Engie announced it would liquidate the entire EVBox group, which it said posted total losses of €800 million since Engie took over in 2017. EVBox is closing its operations in the Netherlands, Germany, and the US.


The 30% federal solar tax credit is ending this year. If you’ve ever considered going solar, now’s the time to act. To make sure you find a trusted, reliable solar installer near you that offers competitive pricing, check out EnergySage, a free service that makes it easy for you to go solar. It has hundreds of pre-vetted solar installers competing for your business, ensuring you get high-quality solutions and save 20-30% compared to going it alone. Plus, it’s free to use, and you won’t get sales calls until you select an installer and share your phone number with them. 

Your personalized solar quotes are easy to compare online and you’ll get access to unbiased Energy Advisors to help you every step of the way. Get started here.

FTC: We use income earning auto affiliate links. More.

Continue Reading

Trending