Long-time Chief Executive Officer Ben Silbermann of Pinterest would step down, handing over the reins of the social media platform to Google...

Stock Market

Google executive to take over as a new CEO of Pinterest

Top accounting firm Ernst & Young has been slammed with a record $100 million fine from the US government...

Stock Market

Accounting firm gets 100 million fine for faulty regulations

The Indian rupee slipped into a fresh low today and extended losses against the US dollar.

Forex

The rupee tumbled to a new low against the dollar in the midst of an increase in crude oil price

Wall Street saw a sharp fall at its closing in a broad sell-off. Consumers' worries over recession have sparked up...

Stock Market

Wall Street Lose Balance after recession strikes growth fear among consumers’

Soaring inflation may be pushing the US economy into a deep recession. Last week's 0.75% interest rate hike by the Federal Reserve...

Stock Market

Inflation ringing the recession bell - Mohammed Shaheen

United States

23 Sept 2021

Biden Administration to Implement New Rule for HFC Emissions

The Index Today

According to the U.S Environmental Protection Agency, a new rule will be introduced to help bring down a dangerous climate-warming gas called Hydrofluorocarbons (HFCs) by 85% in the next 15 years.

The new rule will help reduce the usage of the gas in many household appliances such as air conditioners and refrigerators. National Climate Advisor, Gina McCarthy stated, “it really sends a signal to the rest of the world that we are all in on climate change.” With the plan in place, U.S will be able to comply with the Kigali amendment to the Montreal Protocol.

The upcoming UN climate summit in Glasgow is pushing countries to review their legislations and measures before attendance. President Biden has initiated several measures and executive actions to curb climate control along with other major climate change proposals which are still pending as the congress struggles to approve a budget.

The rule is expected to make a huge impact of gas emissions as it is said to reduce 4.5 billion metric tons of carbon dioxide equivalent by the year 2050. The EPA will develop an allocation system which will minimize HFCs and will review petitions that restrict the usage of the gas in applications.

On Thursday, both the white house and the EPA announced that both will cooperate with multiple agencies to help stop the illegal trade of HFC gas and will punish violators of the law.

©Photo: Reuters

Clay pottery with table linens