NY’s Landmark Climate Bill: Big Opportunities But Few Details

Law360 (August 14, 2019, 3:39 PM EDT) -- On July 18, 2019, New York Gov. Andrew Cuomo signed into law an ambitious statewide climate change agenda that promotes significant investment opportunities, but also creates vast uncertainties regarding implementation: the Climate Leadership and Community Protection Act, or CLCPA.

The CLCPA focuses on greenhouse gas reduction, through adoption of renewable energy and energy sector mandates for GHG reductions — although the legislation leaves open the exploration of other means of GHG reduction, and the expansion to economy-wide regulation. The legislation also focuses on adaptation mechanisms, including hardening infrastructure to withstand disasters.

Commercially, the CLCPA goals present massive investment opportunities to help...

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