Climate Policy News You Can Use — January 2024

Hello and Happy New Year from the Climate Policy Leadership Team!

2024 is shaping up to be a busy year, with climate at the forefront. 66 percent of respondents to the World Economic Forum’s Global Risk Perception Survey (GRPS) identified extreme weather as “most likely to present a material crisis on a global scale in 2024.” While the report paints a stark picture, there is reason to hope, and policy will play a large role in addressing that risk and cutting emissions.

That is why the Climate Policy News You Can Use Newsletter will continue to reach your inbox every month with important advocacy opportunities, updates, and resources to continue this work together.

We are always evolving, so please let us know your thoughts or comments. And if you see anything that catches your eye, please get in touch and we’ll go deeper on the issue!

 

State Policy: New York’s Cap-and-Invest Program Advances with Opportunity for Public Comment

The Hochul Administration is advancing a rulemaking for an economywide cap-and-invest program in New York state as a key step towards implementing the state’s Climate Act and achieving its emissions targets. The lead agencies have released a pre-proposal outline which sheds more light on the potential design of the program and kicks off a round of public comment in advance of the release of a draft rule in the coming months. This policy could raise the bar nationally for economy-wide, market-based climate policies and serve as a model for other states looking to achieve science-based emissions targets and benefit communities.

• Take Action
  • Submit comments to DEC and NYSERDA before March 1, 2024 to support a program that prioritizes climate ambition and sign up for updates on future feedback opportunities.
  • Tune into upcoming webinars hosted by DEC and NYSERDA on the New York Cap-and-Invest pre-proposal and program analysis (Jan 23, 25, and 26)
• Go Deeper
  • Read EDF’s recent blog: New York is developing a cap-and-invest program to cut climate pollution. How would it work?
  • Review EDF’s recommendations to NY State agencies on the design of the cap-and-invest program.
  • Read EDF report: Climate Leadership States Could Cut U.S. “Emissions Gap” in 2030 by Nearly Half, if Governors Deliver on Commitments

 

What’s new with the IRA?

• On January 12, EPA took another critical step to implement the Methane Emissions Reduction Program (MERP), with a proposed structure on the methane waste emissions charge. Be on the lookout for the 45-day comment period once the proposal is published.
  • Check out EDF’s blog for more on MERP.
• ICYMI – Treasury and the IRS released guidance for:
  • 30C Alternative Fuel Vehicle Refueling Property Credit.
    • Check out EDF’s blog for more on 30C.
  • 45X advanced manufacturing production credit
  • Sustainable Aviation Fuel credit
  • Clean hydrogen production tax credit
  • Domestic content requirements
• Check out EDF’s Climate Innovation Funding Tracker, to explore how the federal government spends on climate innovation technology (including annual appropriations and funding from both the Bipartisan infrastructure Law and IRA). Here’s what the data
• Post-IRA Clean Energy Projects Driving $20 Billion in Private Investments, 67K New Jobs in Rural America; Billions More in Wages, Taxes, GDP

 

The Latest from Capitol Hill:

• Congress continues to negotiate topline spending levels for a long-term funding package. The toplines are consistent with the debt limit agreement struck between President Biden and then-Leader McCarthy. We will continue tracking the process closely with an eye toward any potential policy riders that would do harm to climate progress.

 

Keeping up with the Administration:

• A reminder that there is still outstanding proposed rulemaking that must be finalized by the Biden administration. If you are interested in learning more about any of the issues below, please reach out!
  • SEC Climate-Related Financial Disclosure
  • FERC Transmission Planning and Cost Allocation
  • EPA New and Existing Power Plants

 

ICYMI – Things We’re Tracking:

1. Electric Truck Deployments by U.S. Companies Grew Five Times in 2023
2. Analysis Finds U.S. Electric Vehicle Battery Manufacturing on Track to Meet Demand
3. Chevron Doctrine Opponents Ask Justices to Usurp Agencies’ Delegated Role
4. The Net-Zero Action Accelerator is a resource to help companies take action on their climate goals.
   • Check out the learning hub for recorded and upcoming webinars in addition to this sample of their videos and webinars:
     • From net zero commitments to action (video)
     • Navigating the Climate Disclosure Landscape (webinar)
     • Building Internal Corporate Alignment and Effective Governance Structures for Net Zero (webinar)

 

That is all for the start of the new year, thank you for reading. If you’re interested in developing your climate policy priorities for 2024, please reach out.

If this was forwarded to you, email us to subscribe!

 

Best,

Daniel Neff on behalf of the Climate Policy Leadership Team