illuminem summarizes for you the essential news of the day. Read the full piece on Reuters or enjoy below:

🗞️ Driving the news: The U.S. Environmental Protection Agency (EPA) has finalized new rules that mandate significant reductions in carbon emissions from existing coal plants and new gas facilities
• The rules aim for a 90% reduction in greenhouse gas emissions by 2032 and advocate for the use of carbon capture and sequestration (CCS) technology

🔭 The context: This regulatory push follows a setback nearly two years ago when the Supreme Court struck down a prior EPA emissions rule, citing overreach under the Clean Air Act
 • The new rules are crafted to align more closely with traditional regulatory powers by focusing on technologies that can be implemented directly at power plants.

🌍 Why it matters for the planet: The EPA estimates that the emissions rules will cut 1.38 billion metric tons of carbon pollution through 2047, equivalent to the emissions from 328 million gas-powered cars annually
• This represents a significant step towards addressing the urgent need for climate action in the power sector

⏭️ What's next: Legal challenges are anticipated, with opposition citing high implementation costs and potential impacts on job security and energy prices
• The outcome of these legal battles will crucially shape the effectiveness and scope of the EPA's regulatory authority on environmental issues

💬 One quote: "The most stringent reductions can be achieved through the installation of carbon capture and sequestration (CCS) technology," — EPA.

📈 One stat: 1.38 billion metric tons - the amount of carbon pollution projected to be cut by the new EPA rules through 2047.

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