NY Renews Coalition Calls on Governor Hochul to Release Long Overdue Regulations for the State’s Pollution-Cap Program (Cap & Invest)

***FOR IMMEDIATE RELEASE***: March 26, 2025

Contact: Marie Scarles, (646) 389-8429, marie@nyrenews.org

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In response to the release of New York’s Department of Environmental Conservation’s Mandatory Greenhouse Gas Reporting Program Rule, the first of three rules that will outline the state’s cap-and-invest program, NY Renews issued the following statement:

New York was supposed to have adopted rules for the state’s pollution reduction requirements by January 2024. Today, we are finally seeing one part of those rules. While we’re glad that the regulatory process has begun at last, this rule is only a small piece of a pollution-cap program that will make New York safer, healthier, and more affordable.

Cap and invest can financially benefit households across most income groups and geographies in New York State. Research shows that done right, the cap-and-invest program could help many New York households making up to $200K save money. New Yorkers could have lower energy bills as soon as the end of this year, but the Governor is delaying the full release of the cap-and-invest regulations. Governor Hochul must immediately release all the program rules and deliver a healthier, cleaner, and more affordable future for New Yorkers.  As energy bills and other costs of living continue to pile onto New Yorkers with little relief, anything short of this is unacceptable. 

Additional Information:

The cap-and-invest program is simple: It requires corporations to pay for polluting our air and uses that money to help New Yorkers cut their energy bills and invest in our communities. The type of investments funded from the revenue from this program would spur job growth and workforce development opportunities for generations to come. It is also popular: the majority of New Yorkers support climate action including a carbon tax on fossil fuel companies.

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NY Renews is a coalition of over 380 environmental justice, faith, labor, and community groups, and the force behind the nation’s most progressive climate law. We fight for good jobs and climate justice for New Yorkers statewide.