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MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year

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Philanthropy leader at Warren Buffett and Bill Gates’ Giving Pledge says children of billionaires are pushing them to give their wealth away faster

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MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year

2

Elon Musk on MacKenzie Scott giving away $26 billion of her fortune: 'Sadly,' it makes the world a worse place

3

Philanthropy leader at Warren Buffett and Bill Gates’ Giving Pledge says children of billionaires are pushing them to give their wealth away faster
EPA

EPA proposes air pollution limits

By
John Kell
John Kell
Contributing Writer and author of CIO Intelligence
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By
John Kell
John Kell
Contributing Writer and author of CIO Intelligence
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November 26, 2014, 8:22 AM ET
EPA Tightens Air Pollution Limits For First Time In A Decade
LOS ANGELES, CA - MARCH 14: Traffic moves along the 110 freeway, after Environmental Protection Agency (EPA) Administrator Stephen L. Johnson this week announced a modest lowering of legal limits on ozone pollution standards, on March 14, 2008 in Los Angeles, California. The change angered not only industry groups who lobbied against the change but also medical, scientific and environmental groups who say that tougher limits are needed. EPA science advisors and a children's health panel had unanimously recommended tougher standards to protect the public, especially children and the elderly, from serious respiratory problems caused by breathing ground-level ozone that aggravates asthma and can lead to premature death, as shown by mounting evidence. A second proposal for more stringent seasonal limits on ozone based on its harm to forests, crops and other plants was reportedly quashed at the 11th hour by President Bush. Governments in areas where the air is declared dirty as the pollution limit of about 84 parts per billion changes to about 75 ppb over an average eight-hour period will have two decades to reduce their emissions. (Photo by David McNew/Getty Images)Photograph by David McNew — Getty Images
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The Environmental Protection Agency on Wednesday announced federal air-pollution regulation that would strengthen limits to ground-level smog.

The agency said it wants to limit ozone pollution to between 65 to 70 parts per billion of ozone in the air, a range the EPA said is based on extensive scientific data about the harmful effects of smog. The EPA said it will take comment on a level “as low as 60 parts per billion.” Those limits are below the current level — set at 75 parts per billion — which was set in 2008 under the then-President George W. Bush administration.

“Bringing ozone pollution standards in line with the latest science will clean up our air, improve access to crucial air quality information, and protect those most at-risk,” said EPA Administrator Gina McCarthy in a statement.

Ozone in the air is an oxidant that can irritate the air ways and cause coughing, a burning sensation, shortness of breath, and other lung diseases. Children, people with lung disease, older adults, and those who are active outdoors are most sensitive to ozone, according to the EPA. Ozone, or smog, is particularly likely to reach unhealthy levels on hot sunny days in cities. The agency on Wednesday said the proposed standards would also help low income and minority families who are “most likely to suffer from asthma or to live in communities that are overburdened by pollution.”

The EPA said its scientists examined numerous studies as it considered the most recent review of the ozone standards, including more than 1,000 new studies published since the last update.

The proposal is expected to reignite a spat between businesses and environmental groups, Wall Street Journal reported. Back in 2011, the EPA estimated that the proposed standard — then set at the toughest level the agency had yet considered — could cost $90 billion a year to utilities and other businesses. President Barack Obama delayed issuing it, WSJ reports.

Seemingly anticipating some resistance on costs, the EPA statement on Wednesday said every dollar invested to meet clean air standards would return “up to three dollars in health benefits.” For example, the EPA estimated that health benefits gained from fewer asthma attacks, premature deaths and other health effects would be valued at $19 billion to $38 billion annually in 2025 for a standard 65 parts per billion. Annual costs were estimated at $15 billion for that same standard.

The EPA didn’t disclose how it determined those estimates.

The agency, which is seeking public comments on the proposal and will hold three public hearings, expects to issue final ozone standards by next October.

About the Author
By John KellContributing Writer and author of CIO Intelligence

John Kell is a contributing writer for Fortune and author of Fortune’s CIO Intelligence newsletter.

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