Today’s Key Takeaways: SEC backs off climate disclosure rule. New plan for Alaska LNG. Big Supreme Court copper win. Ranked choice voting on Alaska’s ballot again.
NEWS OF THE DAY:
SEC Expected To Scale Back Landmark Climate Disclosure
Declan Harty, Jordan Wolman, Climatewire, February 26, 2024
The U.S. Securities and Exchange Commission is expected to pare back a long-awaited climate-risk disclosure rule that has sparked a furious backlash from business lobbyists and GOP lawmakers, a person familiar with the matter said.
The final rule, which could be released in the coming weeks, is likely to include less-comprehensive greenhouse gas emissions disclosure requirements for public companies than the original plan, which was proposed almost two years ago, the person said.
The SEC issued the proposal in an effort to provide new clarity and standardization to corporate climate disclosures.
GAS:
Alaska Gas Promoter Floats New Plan: Send North Slope Gas to Southcentral First
Yereth Rosen, Alaska Beacon, February 26, 2024
The Alaska Gasline Development Corp. is proposing a phased approach to supply the Cook
Inlet region with natural gas as a prelude to LNG exports to Asia
With a giant North Slope natural gas pipeline still unbuilt after decades of efforts, the state entity now promoting the project has a new plan intended to spur construction of the megaproject: a first phase that delivers natural gas to the isolated Southcentral Alaska market rather than the vast Asian market that is the ultimate target.
The Alaska Gasline Development Corp., the state government entity promoting the long-desired North Slope natural gas project, is characterizing the new plan as a way to address looming shortages of deliverable gas to the state’s most populous region.
Frank Richards, president of the AGDC, told state lawmakers on Monday that starting the project with an in-state phase would ultimately lead to the long-term goal of selling liquefied natural gas internationally.
“What I’m talking about here is a concept of working with the Alaska LNG project as currently envisioned but phasing it to be able to move forward with a pipeline first, to be able to utilize the North Slope gas resources through a pipeline to be able to deliver them to Southcentral Alaska to meet the needs that we hear about in Cook Inlet,” Richards said in a hearing of the House Finance Subcommittee on Commerce, Community and Economic Development, the first of two Monday hearings at which he was scheduled to explain the new idea.
Construction could start early next year, and deliveries could start in 2029, Richards said.
MINING:
Sandfire America scores legal win for Montana copper project
Staff Writer, Mining.Com, February 27, 2024
Sandfire Resources America (TSXV: SFR) stock soared on Tuesday following a positive ruling by the Montana Supreme Court which reversed a district court decision and reinstated the permit for the company’s flagship Black Butte copper project.
For years, the Black Butte project has divided opinions amongst local communities because of its close proximity to Smith River, one of the state’s most popular recreational rivers. The proposed mine is located on private land some 27 km north of the town of White Sulphur Springs in central Montana.
On Tuesday, Tintina won on all counts in the Supreme Court with a 5-2 decision, upholding the 2020 decision of the MT DEQ to allow copper mining at Black Butte, which, according to a 2020 feasibility study, will be underpinned by the large Johnny Lee deposit that is expected to produce 23,000 tonnes of copper a year during an eight-year life.
POLITICS:
Anti-ranked choice voting initiative clears first hurdle on way to November ballot
Liz Ruskin, Alaska Public Media, February 27, 2024
A ballot measure to repeal Alaska’s ranked choice voting and return to a partisan primary has cleared an initial review.
Lt. Gov. Nancy Dahlstrom, who heads the Alaska Division of Elections, announced Tuesday that sponsors of the anti-ranked choice initiative gathered nearly 37,000 signatures — about 10,000 more than necessary. She said the state is still in the process of verifying all the signatures.
Phillip Izon, director of the group sponsoring the repeal, said he doesn’t expect they’ll have any trouble meeting the threshold.
“We did a lot of work on validation, verification. Spent many months on it. So we feel very confident,” he said.
The signatures come from 34 of Alaska’s 40 voting districts – four more than the law requires.