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City on the Edge: Climate Change and New York City

NY Budget Lays Groundwork for Cap-and-Invest Plan to Charge Polluters, But Details Are Lacking

Parts of Cap-and-Invest, a state-wide program that will charge companies for carbon pollution, has made it into New York state’s final budget for the coming year. While the spending bill doesn’t mention it by name, it lays the groundwork for how money generated from the program would be spent going forward.

But environmentalists warned that important measures to protect disadvantaged communities were left out, and that details on how the program will actually be designed are yet to be determined. They're pushing for one provision in particular: establishing a limit on how much companies can trade and sell the allowances they acquire from the state.

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