| The New York State Department of Environmental Conservation (DEC) has released draft “Value of Carbon” guidance to assist State entities with estimating the value of the greenhouse gas emissions reductions in decision making. Developed pursuant to the Climate Leadership and Community Protection Act (CLCPA) and in consultation with the New York State Energy Research and Development Authority (NYSERDA) and Resources for the Future, this guidance establishes a monetary value for avoided emissions of carbon dioxide, methane, and nitrous oxide; provides an up-to-date review of approaches used by other governments to place a value on emissions; and identifies future areas of work, including placing a value on other greenhouse gases and air pollutants.
The proposed value of carbon guidance is a tool that can be used to consider greenhouse gas emissions and climate change in decision-making processes. This guidance is different than a regulation and does not propose a carbon price, fee, or compliance obligation.
The Draft Value of Carbon Guidance and supplemental documents are available for review on climateact; subject line ”Comments on Value of Carbon.” |
