What:
The New York State Department of Environmental Conservation (DEC) and New York State Energy Research and Development Authority (NYSERDA) are holding an equity and climate justice stakeholder roundtable on the use of New York Cap-and-Invest (NYCI) proceeds from the Climate Investment Account. The Climate Investment Account is a critical component in supporting New York’s transition to a less carbon-intensive economy and will direct NYCI auction proceeds to projects that benefit New Yorkers, prioritizing frontline disadvantaged communities that are overburdened by pollution and environmental injustice.

In the Fiscal Year 2024 State Budget, Governor Kathy Hochul laid out the structure of the Climate Action Fund for NYCI proceeds. The Climate Investment Account is one component of the fund and will be used to direct two-thirds of future NYCI proceeds, including at least 35 percent, with the goal of 40 percent, of proceeds to disadvantaged communities as required in the Climate Act. The remaining proceeds will go to an account to directly mitigate consumer costs, guided by the Climate Affordability Study; a third account will support energy affordability for small businesses.

During an August 2024 webinar, DEC and NYSERDA presented a draft proposed investment framework for guiding the allocation of Climate Investment Account funds and identification of potential areas for investment. Following the presentation, DEC and NYSERDA posed a series of questions to solicit public input prior to a question-and-answer session.

Equity and Climate Justice Roundtable
The stakeholder roundtable on Sept. 19, 2024, will offer engagement with members of the Climate Justice Working Group and other stakeholders, providing an opportunity for participants to offer feedback on the draft proposed investment framework and areas for investment. All stakeholder input will be considered as part of the process to develop investment proposals.

The roundtable will include an overview presentation by DEC and NYSERDA and a panel discussion with New York climate justice stakeholders along with a question-and-answer session. 

When: Thursday, Sept. 19, 2024, 1 p.m. – 3 p.m. ET

Where: To register to attend, visit https://capandinvest.ny.gov/Meetings-and-Events.
 
The webinar presentation and recording will be posted online following the event within three days, or as soon as practicable.

Opportunity to Submit Comments by Sept. 30, 2024
DEC and NYSERDA encourage public input to help refine the proposed NYCI investment framework and investment areas. A form to submit this feedback is available at capandinvest.ny.gov. Comments are encouraged to be submitted by Sept. 30, 2024, through the NYCI website or by mail at New York State Energy Research and Development Authority, Attn: NYCI Investment Planning, 17 Columbia Circle Albany, NY 12203-6399. All comments will be considered carefully to help develop a portfolio of proposed investments.