In this article, the author focuses on the economic issues and business opportunities addressed in a recently released Draft Scoping Plan that outlines the framework through which New York State intends to reduce greenhouse gasses.
The New York Climate Action Council recently voted to release for public comment a Draft Scoping Plan (the “Draft Plan”) that outlines the framework through which New York State (the “State”) intends to reduce greenhouse gasses.(1) Significant portions of the Draft Plan outline efforts the State will make to increase the use of renewable energy sources, with a goal of achieving a zero emissions economy by 2035. New York State Governor Kathy Hochul described the Draft Plan in her January 2022 State of the State Address as a central element of her environmental program.(2)
This article outlines the renewable energy proposals in the Draft Plan, particularly those that are based on legislation already passed by the New York State legislature.
It is important to note at the outset, that the Draft Plan is a plan for transitioning New York State’s economy. It is more about business opportunities created by a transitioning economy than about the science of climate change or its environmental impacts.
The Draft Plan outlines specific investments New York State will need to make to transition to an economy that is not reliant on fossil fuels. It also outlines the regulatory changes that need to be made to support a smooth transition. Thus, while the title speaks about the environmental future, this article focuses on economic issues and business opportunities addressed in the Draft Plan.
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Originally appeared in the May 2022 issue of Pratt’s Energy Law Report. Reprinted with permission.
1 The Draft Scoping Plan can be found at https://climate.ny.gov/Our-Climate-Act/Draft-