{"id":24957,"date":"2025-07-01T15:22:52","date_gmt":"2025-07-01T20:22:52","guid":{"rendered":"https:\/\/blogs.edf.org\/climate411\/?p=24957"},"modified":"2025-12-02T15:06:14","modified_gmt":"2025-12-02T20:06:14","slug":"as-new-york-continues-to-await-cap-and-invest-program-studies-show-just-how-impactful-these-programs-can-be","status":"publish","type":"post","link":"https:\/\/blogs.edf.org\/climate411\/2025\/07\/01\/as-new-york-continues-to-await-cap-and-invest-program-studies-show-just-how-impactful-these-programs-can-be\/","title":{"rendered":"As New York continues to await cap-and-invest program, studies show just how impactful these programs can be"},"content":{"rendered":"

New York just experienced a brutal heatwave, with several cities experiencing the <\/span>hottest days ever recorded<\/span><\/a>, underscoring the urgent need to address the climate crisis.<\/span>\u00a0<\/span><\/p>\n

As temperatures heat up, so do energy prices as New Yorkers continue to struggle with higher cost of living and economic uncertainty. To make matters worse, across the country polluters and their political allies are working to <\/span>stall progress<\/span><\/a> and <\/span>roll back the clock on climate action<\/span><\/a>. In the face of those attacks, states must be the firewall.<\/span>\u00a0<\/span><\/p>\n

New York has the chance to lead by example \u2014 tackling climate change while reducing costs for many New Yorkers and spurring economic growth \u2014 through the adoption of a bold, economy-wide cap-and-invest program.<\/span>\u00a0<\/span><\/p>\n

<\/p>\n

Reducing pollution and transitioning to clean energy will make New York more livable \u2014 Cap-and-Invest is how we do this<\/span><\/b>\u00a0<\/span><\/h3>\n

New York\u2019s proposed cap-and-invest program, also known as the Clean Air Initiative, would place a firm, declining limit on climate pollution from the state\u2019s largest emitters and require them to pay for their pollution. The proceeds would then be reinvested into clean energy, community projects and affordability programs that support New Yorkers, especially low- and middle-income New Yorkers and those most impacted by pollution. In other words, this is a program designed to<\/span> reduce pollution, grow the economy and deliver real benefits for families across the state.\u00a0<\/span><\/b>\u00a0<\/span><\/p>\n

New York doesn\u2019t have to guess how the program will benefit the state; it can see the impacts in real-time by examining the two states that already have these programs \u2014 California and Washington state.\u00a0<\/span>\u00a0<\/span><\/p>\n

California\u2019s cap-and-trade program<\/span><\/b>\u00a0<\/span><\/h3>\n

A recent report shows just how much of a force for economic growth and household savings a strong cap-and-invest program can be, especially for low- and middle-income families. The report from Greenline Insights and Environmental Defense Fund focused on California finds that by extending its program to 2045, Californians will see:<\/span>\u00a0<\/span><\/p>\n