FOR IMMEDIATE RELEASE
BUILDING DECARBONIZATION COALITION RESPONDS TO DEC AND NYSERDA RELEASE OF CAP-AND-INVEST OUTLINE AND AFFORDABILITY STUDY
Cap-and-Invest Outline and Study Move New York a Step Closer to Securing the Financing It Needs to Equitably and Efficiently Achieve Building Decarbonization at Scale
ALBANY, N.Y. December 21, 2023 – The New York State Department of Environmental Conservation (DEC) and New York State Energy Research and Development Authority (NYSERDA) released a New York Cap-and-Invest (NYCI) program Pre-Proposal Outline and Climate Affordability Study on December 20, 2023. They also announced that they will conduct a series of stakeholder meetings to gather feedback on the proposed program as they continue to develop regulations to implement NYCI.
New York’s Climate Action Council, at the end of 2022, proposed that New York implement a Cap-and-Invest program to help finance the policies and actions identified in the Scoping Plan as needed to achieve the legally binding emissions reduction mandates of the Climate Leadership and Community Protection Act (CLCPA) of 2019. The Pre-Proposal Outline and Climate Affordability Study provide a framework for NYCI program design and distribution of benefits.
In response to the release of the Pre-Proposal Outline and Climate Affordability Study and the announcement of the stakeholder meetings, Lisa Dix, New York Director for BDC, gave the following statement:
“The release of this Pre-Proposal Outline and Climate Affordability study is an important step forward in creating a Cap-and-Invest program that will help finance the implementation of New York’s nation-leading climate plan, the CLCPA. Using the financing from this program New York will be able to accelerate the decarbonization of its built environment, reduce climate emissions, make energy more affordable for New York families, grow the State’s clean energy economy, and protect existing, and create new, union careers in the energy sector.
The Building Decarbonization Coalition looks forward to participating in the upcoming NYCI stakeholder meetings and supporting agency efforts to design an equitable program that will protect and invest in communities to achieve a healthier, cleaner future for New York.”
ABOUT THE BUILDING DECARBONIZATION COALITION
The Building Decarbonization Coalition (BDC) unites stakeholders on a path to transform the nation’s buildings through clean energy, using policy, research, market development and public engagement. The BDC and its members are charting the course to eliminate fossil fuels in buildings to improve people’s health, cut climate and air pollution, prioritize high-road jobs, and ensure that our communities are more resilient to the impacts of climate change. Learn more at www.buildingdecarb.org