New York can more aggressively target its carbon emission reduction goals by reducing the number and scope of the Regional Greenhouse Gas Initiative carbon allowances it issues to the power sector, according to proposed regulations announced Wednesday by state authorities.
The New York State Department of Environmental Conservation, or DEC, and the New York State Energy Research and Development Authority, or NYSERDA, said in a release that the proposed alterations to the state’s Regional Greenhouse Gas Initiative regulations would “achieve affordable and effective reductions in pollutants” while prioritizing energy affordability.
The proposed amendments would reduce the annual budget of CO2 allowances through 2037. That includes a reduction in the number of allowances set aside for long-term contracts, and in the number of voluntary renewable energy purchases, “while still maintaining enough allowances to accommodate anticipated demand." It would also remove the option for offset projects.
“DEC’s proposed RGGI updates would reduce the regional emissions cap to approximately 69.8 million tons of carbon dioxide in 2027, then decline 89% relative to the 2024 cap through 2037,” NYSERDA said in a release. “This would result in carbon dioxide emissions decreasing by approximately 10% annually through 2033, followed by 3% annually until 2037.”
The proposed changes remove all references to CO2 offset projects. Previously, New York allowed offset projects in the form of landfill methane capture and avoided agricultural methane.
The states currently participating in RGGI are Connecticut, Delaware, Maine, Maryland, Massachusetts, New Hampshire, New Jersey, New York, Rhode Island, and Vermont. New York’s proposal to strengthen its RGGI regulations comes one month after Pennsylvania left the program as part of a budget deal struck between Gov. Josh Shapiro, D-PA, and state legislators.
DEC and NYSERDA characterized the RGGI ramp-up in opposition to the Trump administration’s policies seeking to limit the deployment of renewable energy projects.
“In a time when New York and other states are facing federal headwinds, these proposed updates demonstrate a collective solidarity among states,” said NYSERDA’s CEO Doreen Harris in a release.
DEC also announced Dec. 1 that it has finalized regulations establishing a Mandatory Greenhouse Gas Reporting Program, which will apply to owners and operators of New York facilities that emit 10,000 or more metric tons of carbon dioxide equivalent per year.
NYSERDA and DEC will host two virtual public comment hearings about the proposed RGGI regulations on Feb. 9., with public comments due by Feb. 17.
