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The Navajo Nation has decided to stop pursuing the acquisition of a beleaguered coal-fired power plant in Arizona, locking in the plant to be taken offline and its associated coal mine to close later this year.
A Navajo Nation Council committee voted 11-9 last week to stop pursuing the purchase of the 2,250-megawatt Navajo Generating Station, which with the Kayenta coal mine provides more than 800 jobs to primarily Navajo and Hopi workers as well as tribal royalties.
A coalition of utilities that own the plant said in 2017 it would cease operations due to increased economic pressure, and the plant's future has proved a flash point for national and regional energy policy and raised larger questions on how Native communities will handle ties to fossil fuel industries as the economy changes.
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The mounting climate emergency may spur the next global financial crisis and the world's central banks are woefully ill equipped to handle the consequences, according to a new book-length report by the Bank for International Settlements (BIS), as S&P Global reported. Located in Basel, Switzerland, the BIS is an umbrella organization for the world's central banks.
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By Susan Cosier
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