Gov. Hochul, Stop Blocking a Greener Future and Implement Cap-and-Invest
Hochul’s decision to delay the implementation of New York’s Cap-Trade-and-Invest Program is a deeply misguided one that ignores the connection between the climate crisis and our city’s affordability crisis.
“Mom, there’s smoke coming from the Palisades!” Those were the words my 15-year-old son yelled to me last fall as he gazed out our apartment window in Upper Manhattan, overlooking the Hudson River. Looking over, there was indeed a plume of smoke rising across the river. By the next day, our apartment building smelled like a campfire. Over the following week, I read urgent social media posts from neighbors about brush fires in nearby Inwood Hill and Fort Tryon Parks. It felt dystopian, out of place for New York. The experience reminded me of talking with my young niece in the Bay Area, who once matter-of-factly told me that she couldn’t play outside because the air quality was bad. That wasn’t so unusual for California. But experiencing it here in New York? That was something entirely new.
Those fires of November 2024 made clear something we as New Yorkers have been largely ignoring since Superstorm Sandy: The frontlines of the climate crisis have reached the Big Apple. Given that urgency, Gov. Kathy Hochul’s decision in January to delay the implementation of New York’s Cap-Trade-and-Invest Program (NYCI) is deeply misguided. It’s a shortsighted decision with no political upside that ignores the connection between the climate crisis and our city’s affordability crisis. It is imperative that the governor quickly reverse course.
Back in 2019, New York leapt to the fore in setting ambitious benchmarks for greenhouse gas reduction and a just transition to a renewable economy. New York’s landmark Climate Law set out a process for this transition, and the law is now a model for other states and helped inspire former President Joe Biden’s climate policy.
Just as planting a tree is an act of faith in the continuity of community, investing in a livable, sustainable future for all New Yorkers is keeping a promise to our children, who will reap the benefits for generations to come.
But now we’re playing catch-up: Our state is failing to hit its emissions targets. Add to that a hostile presidential administration that largely denies the existence of the climate crisis, and is resolutely committed to investing in polluting fossil fuels, and you’d think the governor would step up to the plate. But instead, Gov. Hochul is retreating into a corner at the worst time.
Cap-and-invest policies are popular and effective. As recently as this past November, voters in Washington State voted overwhelmingly to continue their state’s cap-and-invest program. Why? Because Washingtonians saw the benefits of cap-and-invest in their everyday lives: greater access to affordable and free public transit; cleaner air in and around schools with zero-emissions school buses and efficient HVAC systems; and lower energy bills for low-income households and small businesses, who receive support for upgrading their gas furnaces to efficient electric alternatives. California, whose cap-and-invest program has been in place for over a decade, has seen even greater benefits thanks to the more than $26 billion that the law has generated.
New York has been part of a regional cap-and-invest program since 2009 called the Regional Greenhouse Gas Initiative (RGGI). RGGI has cut power plant pollution by 50% in participating states and generated over $2 billion in revenue in New York alone. The proceeds funded job creation, air pollution monitoring in affected communities, and the installation of over 4,000 electric vehicle charging ports.
By refusing to implement NYCI, Governor Hochul is depriving our state of at least $2 billion in additional annual revenue. NYCI would support thousands of new jobs. It would facilitate new efficient electric heat pumps for homes across the state, which would save the average household $1,000 per year in energy bills. It would enable the buildout of EV infrastructure and empower communities to develop and implement a range of local clean energy initiatives. And at a time when the Metropolitan Transportation Authority is facing a severe budget shortfall, NYCI would help make public transit more efficient, accessible, and reliable. All of that would reduce pollution—meaning a cleaner future for all.
NYCI isn’t free. But the costs of the program pale in comparison to the price we pay for climate-fueled extreme weather events and the health effects of fossil fuel pollution. We also know that the costs of inaction in New York State far outpace the costs of meeting our 2030 and 2050 emissions targets—by $115 billion.
Implementing NYCI isn’t just a financial issue, it’s a moral one. As someone organizing for climate action within my Jewish community, I often turn to Jewish tradition for inspiration. I think about a Jewish folk tale, about an old man planting a fig tree. When a passerby skeptically asks him if he expects to live long enough to consume the fruits of his labor, the old man replies, “My ancestors planted for me, and now I plant for my children.” Just as planting a tree is an act of faith in the continuity of community, investing in a livable, sustainable future for all New Yorkers is keeping a promise to our children, who will reap the benefits for generations to come.
It’s time for Gov. Hochul to avoid further inaction and implement the NYCI. At a time when the costs of climate action have never been higher, Gov. Hochul should take responsibility and lead New York toward a just transition toward a cleaner future.
