New York to Charge Emitters $1 Billion per Year, Reinvest in Emissions Reduction
ESG Today
JANUARY 13, 2023
The cap will be reduced every year, on a trajectory aligned with the state’s Climate Act. Passed into law in 2019, the Act requires New York to reduce economy-wide GHG emissions by 40% by 2030 and at least 85% by 2050, on a 1990 basis. The dirtier the fuel – the bigger the price tag.
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