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#NewYork is leading the way with an aggressive climate policy framework and thriving carbontech environment.
What is New York’s climate policy framework?
🎯 In 2019, New York passed one of the most ambitious climate laws in the nation, the Climate Leadership and Community Protection Act (aka The Climate Act). It targets reducing greenhouse gas emissions (#GHG) by 40% by 2030 and no less than 85% by 2050 from 1990 levels, with remaining emissions to be directly reduced or offset through projects removing atmospheric GHGs.
🏭 New York is part of the Regional Greenhouse Gases Initiative, a cooperative market-based cap-and-invest initiative among 12 Eastern states to reduce #CO2 emissions from power plants. So far this has led to over 50% emissions reduction, twice as fast as the nation, and has raised nearly $6 billion.
📜 New York state together with The OpenAir Collective have led the way with the Carbon Dioxide Removal Leadership Act (#CDRLA). A first of its kind, it aims to establish a procurement program to accelerate and scale durable CDR through an annually capped reverse auction which is standards-based and tech agnostic. Initial funding for the reverse auction is secured by eliminating certain tax exemptions on fossil fuels.
⚡️To reach the ambitious targets under the Climate Act, State Assembly member Patricia Fahey and State Senator Michelle Hinchey proposed a minimum of 10,000 tons for 2025, doubling over the next 5 years. At the federal level, Representative Paul Tonko introduced the Federal Carbon Dioxide Removal Act which requires the U.S. Department of Energy (DOE) to remove an increasing amount of CO2 emissions starting at 50,000 tons from 2024 to 10 million by 2035 onwards.
What types of carbon dioxide removal (#CDR) technologies is New York looking at?
🎓 Research is being done at Cornell University on enhanced rock weather (#ERW) and at Columbia University on mineralisation-based CDR. There’s promising #biochar research at Cornell and Rochester Institute of Technology.
⚡️The DOE has funded several direct air capture (#DAC) research projects in NY, including a $2.9M grant to Aircapture to separate CO2 from ambient air and convert it into value-added chemicals.
💵 New York State Energy Research and Development Authority’s (#NYSERDA) Commercial & Industrial Carbon Challenge helps organisations implement their best carbon-reduction projects including Carbon Capture, Utilization, and/or Storage (#CCUS). To date it has made 23 awards totaling more than $45 million, including for Anheuser-Busch to capture 75% of the #CO2 emitted from their brewery in Baldwinsville.
New York is pioneering US carbon management. The state’s standards-based and methods-agnostic CDRLA helps facilitate a portfolio approach to CDR, mentioning all the main CDR technologies.
What do you think about New York’s carbon management plans?
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