This Week in Environmental News 2-8

On Wednesday, President Obama nominated Sally Jewell to fill the post of Secretary of the Interior that was recently vacated by Ken Salazar.  Jewell has served as the chief executive of Recreational Equipment Inc. (REI) since 2005 and, in addition to her background in conservation and outdoor recreation, Jewell formerly served as an oil company engineer.

A recent study by The Boston Consulting Group and the MIT Sloan Management Review found that more and more companies are profiting from their sustainability efforts.  37% of the 2,600 executives and managers surveyed reported a profit from their sustainability programs, and close to half of the companies surveyed have changed their business models to capitalize on sustainability opportunities. 

The member states of the Regional Greenhouse Gas Initiative (RGGI) proposed reducing the 2014 budget of CO2 emissions by 45%, from 165 million to 91 million tons.  The proposal is intended to encourage emission cuts by increasing the cost of compliance.  According to an analysis conducted by the group, allowances currently trading for $1.93 could trade for as much as $10 by 2020 if the proposed reduction is implemented.