Hochul’s ‘Cap-and-Invest’ Climate Plan Stirs Skepticism From Environmentalists & Polluters Alike
In her State of the State, Gov. Kathy Hochul released an outline of a Cap-and-Invest program, which would establish a limit on how much companies can pollute. The cap will get stricter over time until New York’s emissions are brought down by at least 85 percent by 2050, in accordance with the state’s climate law, and big emitters will also have to purchase permits to sell polluting fuels under the plan.
“The dirtier the fuel – the bigger the price tag,” Hochul said.
Environmental justice groups across the Big Apple welcome the idea of having a Cap-and- Invest program, but worry that if poorly designed, it would end up aiding polluters instead of cutting back on emissions, as has been in case in states like California. “We’ve seen this play out in ways that are concerning,” energy attorney Raya Salter told City Limits.