Humans are inescapably dependent upon geological processes and structures. Many of these interactions are direct, such as when we cultivate the soil or mine the earth. However, the terms of our interaction with geology are usually invisible and unacknowledged. Although the relationships are complex, a firm understanding of the environment and our dependence on it cannot ignore the interconnections between earth’s systems, including subsurface geology, vegetation, oceans, and atmosphere.

At this point in time, climate change pervades every aspect of contemporary life. It is a persistent current through our lives and, increasingly, throughout the law. One would be hard-pressed to find any area of law that has not or will not soon be touched by climate change. The onset of climate change has prompted decades worth of deep and wide efforts to reshape law and policy. Yet, alongside this development, there is also erosion.

The European Union, China, California, and a number of U.S. states in the Northeast are currently using emissions trading as part of their efforts to reduce greenhouse gas (GHG) emissions. However, the popularity of emissions trading as a policy tool co-exists with a well-established, and increasingly politically powerful, set of critiques of it in the United States. These critiques come from environmental justice advocates as well as some academics and other observers.

What impact does inflation have on environmental sectors? Economists have recently raised concerns about “greenflation,” a term coined to describe rising commodity prices associated with going green, due to a higher demand for sustainable materials. The implementation of more carbon-neutral regulation and increasing environmental, social, and governance (ESG) practices may contribute to these rising costs. On January 26, 2022, the Environmental Law Institute hosted leading experts for an in-depth economic discussion about greenflation, regulations, and ESG practices.