Justine Calma

Offsets are supposed to allow companies and consumers to cancel out some of their CO2 emissions — but are notorious for failing. Plant a tree to capture carbon, for example, and that tree could eventually release all the CO2 if it doesn’t survive for hundreds of years.

The Biden administration laid out new guidelines today aimed at making offsets work, although many environmental advocates are still skeptical.

The railway company reached a settlement with the Environmental Protection Agency that includes $235 million for cleanup, $30 million to monitor water quality, $25 million for a community health program, and a $15 million civil penalty. Norfolk Southern has also agreed to a $600 million settlement with residents after the disaster released hazardous chemicals including carcinogen vinyl chloride.