Climate Justice Stakeholder Roundtable Announced for Cap-and-Invest Program

Aug. 23 Roundtable Advances New York State's Efforts to Meet Equity Requirements under Climate Leadership and Community Protection Act

August 11, 2023

The New York State Department of Environmental Conservation (DEC) and New York State Energy Research and Development Authority (NYSERDA) today announced an Equity and Climate Justice stakeholder roundtable on the development of the State's Cap-and-Invest Program to reduce the emissions driving climate change. The Cap-and-Invest Program was recommended in the Climate Action Council's Scoping Plan and proposed in Governor Kathy Hochul's 2023 State of the State Address. DEC and NYSERDA are developing the program so that greenhouse gas emission reductions are achieved in an equitable manner. 

DEC Commissioner and Climate Action Council Co-Chair Basil Seggos said, "New York is developing a Cap-and-Invest Program to reduce the emissions changing the climate and it’s critical to provide all stakeholders with the opportunity to inform program design to ensure its equitable implementation. Focused on climate justice, the August 23 roundtable will solicit input on advancing an equitable program that reduces greenhouse gas emissions and creates green jobs that support New York State’s efforts to create a cleaner, more equitable, and healthier environment."

NYSERDA President and CEO and Climate Action Council Co-Chair Doreen M. Harris said, “The stakeholder roundtable will focus on hearing directly from climate justice stakeholders on how the Cap-and-Invest Program regulations can be designed to be both effective in reducing emissions and equitable in its delivery. Stakeholder feedback is a foundational element in designing a program that can help further stimulate the economy and support family-sustaining jobs across the State.”

The stakeholder roundtable will offer engagement with various stakeholders regarding the development of the program around equity, disadvantaged communities, and other key issues. The roundtable will provide an opportunity for participants to provide feedback on program design features and areas of interest. All stakeholder input will be considered by staff as part of the program development.

The roundtable will include an overview presentation by State staff, along with a panel discussion with State officials and New York climate justice stakeholders and a question-and-answer session. A second round of pre-proposal stakeholder outreach on the State’s Cap-and-Invest Program will be held later this year.

The Equity and Climate Justice Roundtable is scheduled from 1 to 3 p.m. on Wednesday, Aug. 23, and will be live-streamed, with the recording posted online as soon as practicable. Additional information will be provided as it becomes available at the New York Cap-and-Invest website at https://capandinvest.ny.gov/ .

The Enacted FY 2023-24 Budget advances Governor Hochul's priority to create an affordable, equitable, and effective Cap-and-Invest Program that promotes climate action, creates high-quality jobs, supports affordability for New Yorkers, and protects and invests in disadvantaged communities. The Budget creates the Consumer Climate Action Account, which will direct no less than 30 percent of future proceeds  to New Yorkers as a critical step toward protecting affordability. In addition, the Budget establishes a Climate Investment Account, which will allocate two-thirds of future proceeds to support the transition to a less carbon-intensive economy. The Budget also creates a Climate Affordability Study process to provide recommendations on the most impactful use of funds to protect New Yorkers.

The Cap-and-Invest Program will prioritize frontline disadvantaged communities in the State that for far too long have suffered from pollution and environmental injustice. As contemplated, the program will not allow the use of offsets that could result in high-emitting sources to continue to pollute and will instead be designed to ensure pollution burdens are reduced. Under Governor Hochul's leadership, a minimum of 35 percent, with a goal of 40 percent, of the benefits of Cap-and-Invest resources will benefit disadvantaged communities, and the program will be designed to ensure pollution burdens are reduced in frontline communities.

For more information about New York's climate efforts, visit the Climate Act website  .

New York State's Nation-Leading Climate Plan

New York State's nation-leading climate agenda calls for an orderly and just transition that creates family-sustaining jobs, continues to foster a green economy across all sectors and ensures that at least 35 percent, with a goal of 40 percent, of the benefits of clean energy investments are directed to disadvantaged communities. Guided by some of the nation’s most aggressive climate and clean energy initiatives, New York is on a path to achieving a zero-emission electricity sector by 2040, including 70 percent renewable energy generation by 2030, and economywide carbon neutrality by mid-century. A cornerstone of this transition is New York's unprecedented clean energy investments, including more than $35 billion in 120 large-scale renewable and transmission projects across the state, $6.8 billion to reduce building emissions, $3.3 billion to scale up solar, more than $1 billion for clean transportation initiatives, and over $2 billion in NY Green Bank commitments. These and other investments are supporting more than 165,000 jobs in New York’s clean energy sector in 2021 and over 3,000% growth in the distributed solar sector since 2011. To reduce greenhouse gas emissions and improve air quality, New York also adopted zero-emission vehicle regulations, including requiring all new passenger cars and trucks sold in the State be zero emission by 2035. Partnerships are continuing to advance New York's climate action with nearly 400 registered and more than 100 certified Climate Smart Communities, nearly 500 Clean Energy Communities, and the State's largest community air monitoring initiative in 10 disadvantaged communities across the State to help target air pollution interventions and combat climate change.