Not only is New York Governor Kathy Hochul’s decision to indefinitely delay New York’s cap-and-invest program a political calculation, it’s also an outward proclamation of New York State’s credibility and leadership on climate action. In 2019, New York passed the Climate Leadership and Community Protection Act with huge promises to, number one, reduce greenhouse gas emissions by 40% by the year 2030 and, number two, achieve net-zero emissions by 2050, with a general commitment to environmental justice throughout the state. However, with Hochul’s continued delay of the cap-and-invest program since its initial dialogue in 2023, it’s easy to doubt the prospect of this policy’s implementation. Instead, it seems more like a PR stunt for Hochul’s 2026 re-election campaign.
The cap-and-invest program in New York that Hochul promised is modeled after successful initiatives from California and the Northeast Regional Greenhouse Gas Initiative, both of which have been successfully implemented and deeply inspired New York’s climate goals. In practice, the program is quite simple to implement; it imposes a cap on emissions, primarily greenhouse gas emissions. There are state-run auctions that release permits to companies, granting them the legal right to release a certain amount of emissions. Over time, the “cap” gets lowered as fewer permits are made available. Companies will be forced to lower their total pollution.
The revenue from permit sales will be reinvested in clean energy, community resilience, and consumer rebate programs. Once fully implemented, the cap-and-invest program is projected to create a measurable reduction in the cost of New Yorkers’ monthly energy bills, as well as our overall carbon footprint. The cap-and-invest program has a dual impact: as it limits carbon emissions throughout the state, it also supports community development and energy savings, with the specific goal of economic relief to more populations that are historically more at risk from climate extremes.
Simple right?
Sadly, despite data and community support for the cap-and-invest program, the recent delay of the implementation of the program in the 2025 budget process gives insight into the gap between Hochul’s rhetoric and execution. She has proposed budget cuts to green initiatives, whereas other states have prioritized them. In a briefing in January 2025, Hochul said it’s “not the right time” to move forward with the program, and it has been put on pause indefinitely. As a replacement, she has proposed $1 billion of general obligation funding under the guise of ‘sustainable futures’ that can be spent on decarbonization projects over the next five years.
On what planet does this make sense? Certainly not one that is warming! Hochul cites concerns of increased cost-of-living pressures and the need for better pollution data. While it is important to be mindful of the impact on struggling families, delaying the program’s implementation will not solve the climate issue that is already here. It will simply further exacerbate the existing issues and increase the long-term costs and impacts for New Yorkers at an even greater rate. Not only does this public display show a lack of political will, but it also poses a larger threat to all New Yorkers. We risk falling behind in green energy investments and climate adjustments, while long-term public health, economic resilience, and environmental justice problems will only grow.
I would suggest Hochul look at the 2023 report by the New York State Energy Research and Development Authority, which highlights how every year of delay will cost the state billions in damages from public health crises, extreme weather repair, and the socio-economic disruptions that often coincide with these events. Hochul’s hesitancy to fund climate programs reveals a more troubling issue: long-term public health and climate commitments are optional to the current New York leadership.
In one distinct example, this flimsy approach to dealing with climate change manifests in extreme effects for New York’s most vulnerable populations. In communities like the South Bronx and parts of Brooklyn, with rates of asthma hospitalization at a rate of more than three times the national average, Hochul’s neglect of the cap-and-invest program directly limits climate investment into disadvantaged communities.
According to New York’s Climate Leadership and Community Protection Act, 35% of any climate investment must directly flow to disadvantaged communities, from work to home, and economic opportunities. Additionally, research from the Regional Greenhouse Gas Initiative found that cap-and-invest programs have not increased electricity prices but have created new jobs and lowered the energy bills of individual homes.
New York’s primary challenge in addressing climate change is its political leadership and overall attitude towards climate action. Not only are climate policies tools for creating a cleaner, healthier environment, but they are also economic development strategies that build more resilient neighborhoods and environments for all. The continued hesitancy and skepticism from leaders like Hochul will affect the safety and security of current communities. Future generations will be even more impacted. It has been time for New York to not just meet this moment of climate turmoil but take active and bold steps against the increasing climate issues, starting with the approval of the cap-and-invest program. As New Yorkers, we need to call on Hochul to stop hedging on investment in green initiatives and hold our leaders accountable not just for today but for the future.
