Bill Memo: Climate Expenditure Transparency

1-Tree: Beneficial rating

Summary

This legislation amends the Environmental Conservation Law to require the Department of Environmental Conservation, in consultation with NYSERDA, to report annually on state agency and authority climate expenditures, estimated needs for future expenditures, and an analysis of spending impacts on disadvantaged communities.

Explanation

The Climate Leadership and Community Protection Act (CLCPA) requires all state agencies to assess the state’s attainment of emissions limits and impacts on Disadvantaged Communities in their decision making. Detailed reporting on agency and authority climate expenditures will help ensure compliance with the CLCPA mandates on equity, cumulative impacts, emissions reduction, and investments in disadvantaged communities.

The integration analysis that was incorporated into the Climate Action Council’s Scoping Plan modeled policy scenarios necessary to meet the emission reduction benchmarks mandated by the climate law. The analysis estimates that we need a minimum of $10 billion in annual spending to put the state on track to meet its commitments and secure the health and economic benefits. The analysis also demonstrated that these investments to implement the CLCPA would result in net benefits to New York ranging from $90 – $120 billion through 2050. In addition to reducing emissions statewide, it will help reduce damage resulting from climate change, saving New York State an estimated $260 billion.

The detailed, annual reporting on climate expenditures required by this legislation will provide the transparency needed to hold the state accountable for meeting the climate and equity mandates of the CLCPA.

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Environmental Advocates NY Bill Rating: Beneficial

Memo #: 54