In The News
Carbon Free NY Launches Campaign to Support Carbon Pricing Legislation in New York State Legislature
Carbon Free NY launched a multi-channel media campaign to educate New Yorkers on the benefits of the New York Independent System Operator’s (NYISO) carbon pricing proposal. The campaign comes as legislation was recently introduced by Assemblymember Amy Paulin (A1168) and Senator Kevin Parker (S4372) to capture New York state’s support of NYISO’s proposal to incorporate the social cost of carbon in NYISO’s electricity markets in addition to the creation of a carbon dioxide emissions fund.
Specifically, the legislation:
- Allows NYISO’s carbon pricing mechanism to be implemented in its wholesale electricity markets, upon approval by the Federal Energy Regulatory Committee (FERC);
Directs the Department of Environmental Conservation (DEC) to establish a fund for the carbon dioxide emissions revenues to be disbursed 40 percent to low-to-moderate income (LMI) ratepayers, 20 percent to support the transition to renewable energy in disadvantaged communities, and 40 percent to mass transit carbon reductions.
Carbon Free NY believes that establishing the social cost of carbon in New York’s energy market is an efficient way to meet the state’s decarbonization targets and renewable energy goals. With this legislation New York will be the nationwide leader in the fight against climate change. We are grateful to Assemblymember Paulin, Senator Parker and the co-sponsors for introducing legislation that would provide a crucial step forward for New York to meet our clean energy goals faster and cost-effectively, all while mitigating the negative impacts of greenhouse gas emissions on New Yorkers.
In order to help New York meet the climate goals in the Climate Leadership and Community Protection Act (CLCPA), Carbon Free NY believes that the NYISO carbon pricing proposal is a reliable home-grown policy tool to efficiently and cost-effectively advance decarbonization efforts and align our climate energy goals with a market-based, technology-neutral model for decarbonization.
To learn more about how NYISO’s carbon pricing plan works, read more here.