New York’s New Climate Statute Requires Agencies to Determine an Appropriate Social Cost of Carbon
In June 2019, Governor Cuomo signed the Climate Leadership and Community Protection Act. This act sets a goal of 100 percent, economy-wide net-zero carbon emissions by 2050. Among other things, the act calls on the Department of Environmental Conservation, along with the New York State Energy Research and Development Authority, to "establish a social cost of carbon for use by state agencies, expressed in terms of dollars per ton of carbon dioxide equivalent." The Department is required to "consider prior or existing estimates of the social cost of carbon issued or adopted by the federal government, appropriate international bodies, or other appropriate and reputable scientific organizations."
NY ENVIR CONSER LAW Ch. 43-B, Art. 75 (McKinney 2019)
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