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The document reports that 2024 was the warmest year on record, marking the first calendar year where global surface air temperatures exceeded pre-industrial levels by 1.5°C. It details a surge in weather-related disasters, with 62% of all such events since 1984 occurring after 2004, and notes that over 240 million internal displacements occurred between 2013 and 2023 due to natural disasters. The text emphasizes that atmospheric CO2 concentrations reached record highs in 2024, hitting 426.7 ppm in May, which underscores the failure of current global policies to meet the 2015 Paris Agreement targets.

Between December 2025 and February 2026, human-caused climate change significantly influenced global temperatures, with more than one in six people daily experiencing temperatures at least twice as likely due to climate change. In the United States, a sharp divide occurred: western states saw record-breaking warmth, with nine states experiencing their warmest December-February on record and Casper, Wyoming, recording the highest temperature anomaly globally among 960 analyzed cities. Conversely, the eastern U.S. faced below-average temperatures and cold snaps that the Climate Shift Index (CSI) indicates were made less likely by climate change. The record warmth in the west has led to low snowpack in Oregon, Colorado, and Utah, threatening water supplies and increasing wildfire risks.

In 2025, the Private Equity Stakeholder Project (PESP) tracked 1,029 private equity-backed healthcare deals in the U.S., including 151 leveraged buyouts, 664 add-on acquisitions, and 214 growth investments. The busiest subsectors were Health IT, dental care, and outpatient care. The report highlights a growing trend of private equity firms using joint ventures with nonprofit health systems to expand market access and evade antitrust scrutiny. It also notes significant expansion into pharmaceutical services, specifically clinical trial sites and institutional review boards, and home health/hospice care, where debt-driven models may divert Medicaid funds from patient care.

February 2026 was the fifth-warmest month globally on record, with the contiguous U.S. experiencing its second-warmest winter in 132 years. A critical 'snow drought' affected the western U.S., where snow-covered areas in January were only 34% of normal, threatening water supplies for agriculture and energy. Climate Central's analysis indicates that human-driven climate change significantly influenced winter temperatures, particularly in the Southwest, and is the primary cause of spring warming in 98% of 241 examined U.S. cities.

A review of fifteen large private equity evergreen funds reveals they significantly underperformed the S&P 500 and MSCI ACWI indexes in 2025 and over a three-year period, despite charging median expense ratios of 3.76% compared to 0.03% for the Vanguard S&P 500 ETF. The report notes that the private equity industry is seeking a regulatory safe harbor from the US Department of Labor to limit lawsuits as it targets 401K retirement savings, a shift occurring as global fundraising fell 11.0% in 2025 and several US state pension funds—including those in Alaska, Texas, and Ohio—reduced their private equity allocations due to dwindling returns and liquidity risks.

January 2026 was the fifth-warmest January on record globally, characterized by significant temperature anomalies in the U.S. West and record-low snowpacks in several states. The document highlights the transition of NOAA to the Relative Oceanic Niño Index (RONI) to better account for climate change in ENSO tracking. Attribution analysis using the Climate Shift Index (CSI) indicates that extreme warmth in the northern U.S. and specific cities like San Juan and Honolulu was strongly driven by carbon pollution.

The EPA has proposed a significant rollback of the Greenhouse Gas Reporting Program (GHGRP), which would remove reporting requirements for 46 of 47 source categories and suspend subpart W reporting until 2034. This proposal threatens the viability of over 270 carbon capture projects and $77.5 billion in capital investment because the 45Q tax credit relies on GHGRP for monitoring, reporting, and verification (MRV). Specifically, the loss of subparts PP, RR, and VV would prevent carbon capture and storage (CCS) and enhanced oil recovery (EOR) projects from claiming 45Q credits. For hydrogen projects, the delay of subpart W would reduce the reliability of upstream methane leak rate measurements used in the 45VH2-GREET tool for 45V tax credits, potentially forcing taxpayers to rely on an inaccurate 0.9% national average and increasing legal risks for high performers. Internationally, the rollback could disadvantage U.S. exporters in markets requiring verified data, such as those under the EU Carbon Border Adjustment Mechanism (CBAM). Domestically, at least ten states, including California and Colorado, have embedded GHGRP into their legal frameworks; removing it would force these states to create costly patchwork substitutes to maintain emissions inventories.

In 2025, the contiguous U.S. experienced its fourth-warmest year on record and 23 billion-dollar weather and climate disasters, totaling $115 billion in damages. Globally, 2025 was the third-warmest year since 1850, with NOAA data indicating it was approximately 1.3°C warmer than the pre-industrial average. The year was marked by record-breaking December heat in the U.S. Southwest and devastating atmospheric river flooding in Washington and Oregon.

The document reports that November 2025 was the third warmest on record globally and the fourth warmest for the contiguous U.S. It highlights a long-term trend of warming winters in the U.S., where the coldest day of the year has warmed by approximately 7°F since 1970. The briefing also notes significant regional anomalies, such as extreme warmth in Texas and heavy rainfall in southern California, while discussing the ongoing La Niña advisory and its expected impacts on weather patterns through early 2026.

Analysis of 244 U.S. cities shows that winters are the fastest-warming season for most of the country, with average temperatures increasing by 3.9°F since 1970. This trend is characterized by fewer freezing nights, shorter cold streaks, and a significant increase in warmer-than-normal winter days, particularly in the Northeast and Upper Midwest. These changes threaten mountain snowpack, crop yields for the $27 billion fruit and nut industry, and the winter recreation economy, while potentially increasing pest-related health risks and allergy durations.

The policy brief examines how virtual power plants (VPPs) can mitigate grid interconnection delays for large loads, specifically data centers, in the United States. It highlights that VPPs can scale to meet over 20% of US peak demand by 2030 and are significantly cheaper than new gas plants. The document proposes three commercial models—pass-through funding, capacity transfer, and reliability reinforcement—to align incentives between large loads, utilities, and VPP aggregators. It also recommends reforms in interconnection policy, integrated planning, and customer protection to enable this transition.

The Big Eddy-Knight project, a 28-mile transmission line completed in 2015 by the Bonneville Power Administration (BPA), utilized a proactive settlement agreement with the Friends of the Columbia River Gorge (FOCG) to mitigate environmental impacts and reduce litigation risk. While the agreement established a $1.78 million mitigation fund primarily used for land conservation and some utility upgrades, it faced criticism from local landowners and Klickitat County officials who felt the benefits did not directly address the impacts on those most affected by the project's footprint. The project also involved complex consultations with the Yakama Nation and other Tribes, leading to route adjustments to protect cultural resources, including a cave with ancient drawings.

The Mona to Oquirrh transmission line, a 100-mile project completed in 2013, faced significant opposition from Tooele City due to a lack of early community engagement and a proposed route that threatened a valued viewshed. Despite initial refusals by Rocky Mountain Power (RMP) to reroute, the City used its ownership of a small portion of the land to launch legal challenges, including a temporary restraining order. This forced RMP into negotiations, resulting in a January 2011 settlement where RMP agreed to reroute the line behind the mountains and provide community benefits, including the purchase of 130 acres of open space and a $500,000 contribution to the Skyline Nature Park.

The report examines community benefits frameworks (CBFs) across six completed U.S. transmission projects, finding that early, meaningful engagement and tailored benefits—such as infrastructure upgrades, land conservation, and co-ownership—are essential for reducing opposition and avoiding costly delays. It highlights that while financial compensation is common, non-monetary benefits and innovative financing models, including Tribal co-ownership and nonprofit partnerships, provide more sustainable value. The analysis warns that delayed engagement or narrow benefit distribution can lead to litigation and community friction, emphasizing the need for regulatory flexibility and the use of trusted local messengers to build trust.

The 2025 State Healthcare Policy Review tracks a national trend of state-level efforts to regulate private equity in healthcare. It categorizes legislative approaches into transparency and reporting, approval and enforcement authority, targeted prohibitions, and Corporate Practice of Medicine (CPOM) enforcement. The report details laws passed in states like Massachusetts, California, Indiana, Oregon, New Mexico, Washington, and Maine, while also tracking pending and failed legislation in other states.

The report outlines a comprehensive toolkit for U.S. states to decarbonize heavy industry, emphasizing a combination of financial incentives, demand-side market policies, and regulatory reforms. It identifies four critical subsectors—petroleum refining, chemicals, cement, and iron and steel—which together account for approximately 40 percent of U.S. industrial emissions. The guide details technology pathways including electrification, CCUS, and alternative production processes, while providing case studies from Missouri, Louisiana, and Colorado to illustrate effective state-level implementation of these strategies.

The document examines the practice of gas line extension allowances, where the cost of connecting new buildings to the natural gas system is funded through the bills of existing customers. It argues that this model is failing as customers shift toward electric alternatives, creating a financial risk of stranded investments. Eight US states have already taken action to reduce or phase out these subsidies, which RMI estimates could save up to $750 million in annual utility costs across those states. Evidence from California and Colorado suggests that removing these subsidies encourages developers to choose all-electric options over gas.

Wildfire smoke pollution in the U.S. has increased significantly, with per-person exposure four times higher between 2020-2024 than during 2006-2019. Research indicates that fine particulate matter (PM2.5) from wildfire smoke caused approximately 164,000 premature deaths in the U.S. from 2006 to 2020, with human-caused climate change accounting for about 15,000 of those deaths. While the West and Northwest experience the most smoke days, smoke is a nationwide issue, with every county in the contiguous U.S. seeing at least 16 smoke days annually. The rise in smoke since 2016 has stalled or reversed air quality improvements in 30 U.S. states, threatening the goals of the Clean Air Act.

The document examines how climate change is creating a home insurance crisis in the U.S., characterized by skyrocketing premiums and widespread policy non-renewals. It asserts that 'Big Oil' companies, who knew about the risks of fossil fuels as early as 1954, are responsible for these conditions. The report highlights specific state-level crises in Florida, California, and Hawaiʻi, and advocates for policy solutions—such as subrogation and legislative surcharges—to shift the financial burden from policyholders to the fossil fuel industry.

A letter from Oregon's congressional delegation requesting the repeal of Executive Order 14260, which they argue illegally undermines the sovereignty of states and localities to pursue tort cases against oil and gas companies for climate deception and pollution.