The U.S. Environmental Protection Agency announced it would revoke the 2009 Endangerment Finding, undermining the legal foundation for regulating greenhouse gas emissions under the Clean Air Act. While this shift threatens significant climate and public health setbacks, investors and corporate climate leaders are expected to continue pushing voluntary, science-based action to mitigate long-term risks.
(February 12, 2026) On Thursday, The U.S. Environmental Protection Agency (EPA) announced its decision to revoke the 2009 Endangerment Finding. The Endangerment Finding determined that greenhouse gas emissions endanger public health and welfare, forming the legal and scientific basis allowing the EPA to regulate greenhouse gases under the Clean Air Act. The EPA then had the ability to set limits on tailpipe and smokestack emissions and for refineries, manufacturing plants and agriculture.
With the latest move by the EPA Administrator, the agency may now rescind any or all of its existing regulations on the types and volumes of greenhouse gases companies may emit. The harms resulting from these recissions could impact many Americans. As an example, eliminating Biden-era pollution vehicle standards for 2027 through 2032 could forfeit 7 billion tons of avoided carbon emissions, $13 billion of annual public health benefits due to improved air quality, and $62 billion in reduced annual fuel costs, as well as maintenance and repair costs for drivers.[1]
In the absence of coherent climate regulation, the long-term gap between corporate climate leaders and laggards will widen. Leaders will continue to recognize the market opportunities for clean technology, as well as the transition risks and physical risks that inaction brings. Corporations that voluntarily reduce their emissions may also reduce their future environmental liabilities, litigation risks, and compliance costs – as well as impacts on the environment and human health.
While a strong regulatory framework is preferable and critical for rapid climate action, Trillium will continue to identify corporate climate leaders moving beyond meeting a regulatory floor. We will use our position as investors to advocate for ambitious corporate action, informed by science. Corporations can meaningfully impact our climate future by setting bold greenhouse gas reduction targets, issuing transition plans on how they will meet those targets, and disclosing their progress to external stakeholders.
We are not alone in this work. We lead, join, and support coalitions of investors doing the hard work of educating, engaging, and holding companies accountable. Investors are important participants in the transition to a low-carbon economy, and we are encouraged by all of the investors who continue to stand with us in building a strong case for meaningful, swift, and just action in the fight against climate change.
(February 12, 2026) On Thursday, The U.S. Environmental Protection Agency (EPA) announced its decision to revoke the 2009 Endangerment Finding. The Endangerment Finding determined that greenhouse gas emissions endanger public health and welfare, forming the legal and scientific basis allowing the EPA to regulate greenhouse gases under the Clean Air Act. The EPA then had the ability to set limits on tailpipe and smokestack emissions and for refineries, manufacturing plants and agriculture.
With the latest move by the EPA Administrator, the agency may now rescind any or all of its existing regulations on the types and volumes of greenhouse gases companies may emit. The harms resulting from these recissions could impact many Americans. As an example, eliminating Biden-era pollution vehicle standards for 2027 through 2032 could forfeit 7 billion tons of avoided carbon emissions, $13 billion of annual public health benefits due to improved air quality, and $62 billion in reduced annual fuel costs, as well as maintenance and repair costs for drivers.[1]
In the absence of coherent climate regulation, the long-term gap between corporate climate leaders and laggards will widen. Leaders will continue to recognize the market opportunities for clean technology, as well as the transition risks and physical risks that inaction brings. Corporations that voluntarily reduce their emissions may also reduce their future environmental liabilities, litigation risks, and compliance costs – as well as impacts on the environment and human health.
While a strong regulatory framework is preferable and critical for rapid climate action, Trillium will continue to identify corporate climate leaders moving beyond meeting a regulatory floor. We will use our position as investors to advocate for ambitious corporate action, informed by science. Corporations can meaningfully impact our climate future by setting bold greenhouse gas reduction targets, issuing transition plans on how they will meet those targets, and disclosing their progress to external stakeholders.
We are not alone in this work. We lead, join, and support coalitions of investors doing the hard work of educating, engaging, and holding companies accountable. Investors are important participants in the transition to a low-carbon economy, and we are encouraged by all of the investors who continue to stand with us in building a strong case for meaningful, swift, and just action in the fight against climate change.
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