What: The New York State Energy Research and Development Authority (NYSERDA) and the Department of Environmental Conservation (DEC) are seeking public input regarding the use of auction proceeds from the New York Cap-and-Invest (NYCI) Program.
NYSERDA and DEC will use the input to inform the creation and implementation of a framework for the Climate Investment Account. This Account is a critical component in supporting the New York’s transition to a less carbon-intensive economy by directing NYCI auction proceeds to projects that benefit New Yorkers, prioritizing frontline disadvantaged communities that historically suffered from pollution and environmental injustice.
The Climate Investment Account is one component of the Climate Action Fund and will be used to direct two-thirds of future NYCI proceeds. The remaining proceeds will go to an account to directly mitigate consumer costs, guided by the Climate Affordability Study, and a third account that supports energy affordability for small businesses. Additionally, the State continues developing three core regulatory components of the Cap-and-Invest Program – the Mandatory Greenhouse Gas Reporting Program Rule, Cap-and-Invest Rule, and Auction Rule – released for public comment last year as a Pre-Proposal Outline, along with the Preliminary Analytical Data.
NYSERDA and DEC will hold a virtual webinar on Aug. 15, 2024, to present a draft proposed framework for guiding the allocation of Climate Investment Account funds and identification of potential investments consistent with the Governor’s five NYCI principles – affordability, climate leadership, creating jobs and preserving competitiveness, investing in disadvantaged communities, and funding a sustainable future. Following the presentation, NYSERDA and DEC will pose a series of questions to webinar participants to help encourage public feedback. The webinar will conclude with a question-and-answer session.
This webinar builds on previous public input opportunities throughout the NYCI Program’s development. For additional information, please visit the NYCI webpage.
When: Thursday, August 15, 2024, 1:30 p.m. – 3 p.m. ET
Where: Virtual – Webex
Event Number: 936 4864 6340
Event Password: 0762113
Audio: Dial +16465588656 or +16469313860 Access Code: 0762113
To register to attend, visit the Cap and Invest website's events page.
The webinar presentation and recording will be posted online following the event within three days, or as soon as practicable.
