Today’s ESG Updates
- Trump’s Oil and Gas Donors Face Scrutiny: A Senate Democratic report links campaign support from energy companies to tax breaks, subsidies and environmental regulatory rollbacks under Trump.
- Trump Rolls Back Biden-Era Vehicle Efficiency Rules: The Transportation Department estimates the changes would add around 100 billion gallons of fuel consumption and $185 billion in fuel costs through 2050.
- TikTok Reaches First State Settlement Over Teen Safety: The company will pay Alabama at least $100 million, with the amount potentially rising to $300 million if 40 other attorneys general reach similar agreements.
- Erdogan Warns Against One-Size-Fits-All Climate Targets: Turkey’s president says unequal access to financing and technology makes it unrealistic to expect countries to advance climate policy at the same pace.
Senate Democrats accuse Trump of rolling back rules to reward oil and gas donors
US Senate Democrats Chuck Schumer and Sheldon Whitehouse have accused President Donald Trump of favouring oil and gas companies that supported his 2024 campaign with tax breaks, subsidies and environmental regulatory rollbacks. Their report follows Trump’s request for $1 billion in campaign donations from energy companies.
The report examined 19 EPA investigations, 13 investigations across nine other federal agencies and 13 probes involving 88 polluters. It argues that campaign spending tracked after Trump’s request was followed by policies that increased fossil fuel revenues and reduced regulatory costs for the industry.
The senators said the policies amounted to a “massive transfer of wealth”, with consumers bearing higher energy costs and the longer-term health and climate impacts of fossil fuel use. The White House rejected the findings, accusing Democrats of wasting taxpayer money on green energy.
The report comes as the EPA moves to repeal Biden-era carbon limits on coal and gas power plants. The agency says the rollback will save industry hundreds of millions of dollars in compliance costs.
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US to cut vehicle fuel economy standards through 2031
The US Department of Transportation will finalise sharply lower vehicle fuel economy standards through 2031, reversing Biden-era measures designed to improve efficiency and encourage electric vehicle production.
The new rules would require a fleetwide average of 34.5 miles per gallon by 2031, down from 50.4 mpg under Biden-era standards. The department estimates this would reduce the average cost of a new vehicle by $930.
However, the department projects the lower standards would increase fuel consumption by around 100 billion gallons through 2050 and add $185 billion in fuel costs. Carbon dioxide emissions would rise by about 5%, according to its estimates.
Transportation Secretary Sean Duffy called the changes “a major victory for America’s auto workers,” while former Transportation Secretary Pete Buttigieg said they would leave Americans paying more at the pump.
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TikTok agrees to $100m settlement over teen safety claims
TikTok and its parent company ByteDance have agreed to pay Alabama at least $100 million to settle claims that the platform endangered children and misled consumers about its safety.
The settlement requires TikTok to impose a two-hour daily limit for teenagers in Alabama, with pauses after 15 minutes of use and stricter age-verification measures.
Alabama had alleged that TikTok’s algorithm trapped children in “filter bubbles” and pushed young users towards increasingly intense content, including violence and self-harm. It also alleged that weak age controls undermined safeguards such as “Kids Mode.”
The deal is TikTok’s first settlement with a US state in the litigation. Its payout could rise to $300 million if 40 other attorneys general sign on similar agreements with the company within a specified time period.
Erdogan calls for development-focused climate agenda ahead of COP31
Turkish President Tayyip Erdogan said countries cannot be expected to advance climate policy at the same pace while access to financing and technology remains unequal.
Speaking at the UN Climate Summit, Erdogan called for climate targets to reflect countries’ “societal and economic realities” and said measures that ignore them are “bound for failure.”
“We can only make a just transition lasting to the extent that we establish a strong link between climate goals and development and prosperity.”
His comments come ahead of COP31 in Antalya, where Turkey will lead the presidency and action agenda while Australia oversees formal negotiations. Turkey’s agenda includes raising electricity’s share of energy consumption to 35% by 2035 and halving projected increases in municipal waste.
Editor’s Note: The opinions expressed here by the authors are their own, not those of impakter.com — Cover Photo Credit: Daydream
