Atlantic Global Risk LLC, a leading specialist insurance brokerage firm, announced today that it has placed the first-ever tax liability insurance policy supporting a landmark transaction in the carbon capture and sequestration (CCS) sector. This achievement underscores Atlantic’s commitment to providing innovative insurance products and supporting the energy transition.
The Environmental Protection Agency’s (EPA) final power plant rule is a grave threat to America’s energy supply. The rule mandates that coal plants and any new natural gas plant drastically reduce or capture carbon dioxide emissions by 2032. However, carbon capture and sequestration (CCS), the technology upon which the rule relies, remains highly expensive and largely unsuccessful. As a result, the EPA’s rule could force many power plants to shut down, leading to increased reliance on intermittent and unreliable renewable energy sources. This transition would result in soaring electricity prices and jeopardize grid reliability, potentially jeopardizing American safety and livelihoods.
