JVM Realty Corporation’s Post

On 30 December, the New York Department of Environmental Conservation (DEC) and New York State Energy Research and Development Authority (NYSERDA) moved to the second stage of pre-proposal outreach to implement its new, economy-wide Cap-and-Invest program in 2025. ClearBlue analysts provided our clients with a timely Live Update overview and a detailed program primer that flagged the key regulatory leanings and how they will affect the market. Key points of note: 👉 Outline indicates initial cap to be set in line with current emissions 👉 No bank carryover from the first compliance period (2025-26) 👉 Price levels TBD for cost containment mechanisms like the Emissions Containment Reserve (ECR) and Cost Containment Reserve (CCR) 👉 No offsets (as anticipated) 👉 Additional stakeholder feedback sought the week of 22 January The ClearBlue Market Analysis team closely follows and reports on market developments using Vantage, our carbon intelligence platform, to give our clients the insight they need to take decisive action in the carbon markets. Reach out today:  https://lnkd.in/gDfUevJG

📢 The 2024 Environmental Finance Voluntary Carbon Market Rankings are open through July 26! We hope you'll consider voting for us again this year for "Best GHG Crediting Programme" and for "Best Registry Provider." Why vote for Verra? In September 2023, we launched a new era of scaling our impact, engaging more actively with our stakeholders, and ensuring we operate our programs effectively and efficiently. Here are some highlights from the past several months: 💡 A commitment to a multiyear digitalization initiative, which included launching the Verra Project Hub 💡 Initiatives to strengthen our project review processes and various stakeholder support functions, including the launch of a new Stakeholder Support Team 💡 Continued efforts to strengthen our VCS Program by launching a new cohort of the VCS Program Advisory Group and laying the foundation for version 5 of the program Read more: https://bit.ly/4cDFM8x

Our coverage of #environmentaljustice related developments continues, with this week's post by Bradley Rochlen and I focusing on recently issued non-binding guidance in #newjersey listing out issues parties should consider in #environmentalremediation. These include that: - Parties remediating in environmentally overburdened communities should understand "the current environmental stressors, consider partnering with local stakeholders, and help address environmental justice concerns.” This aspirational goal softly requests parties to conduct something akin to a #cumulativerisk assessment. - Remediating parties should consider using renewable energy and water-efficient remediation methods. - Remediating parties should conduct climate change vulnerability assessments. The guidance illustrates that, for regulators, climate issues, EJ, and #resiliency often are thought of together. (Whether these always belong together, or what to do when factoring any one of these skyrockets remediation costs, is a topic we may explore in a future post.) Check it out.

The recent uptick in #CarbonCapture applications highlights a growing challenge: an overextended permitting process by the US Environmental Protection Agency (EPA). This backlog underscores the urgency for state Primacy — to streamline access to vital #CCS technology for emissions-heavy industries, ensuring they can effectively meet emissions-reduction targets. Read more from the Houston Chronicle ⬇ #ClearingTheAirOnCarbon #StatePrimacy

Vote for Verra in Environmental Finance's VCM Rankings! 📢 Environmental Finance’s 2024 Voluntary Carbon Markets Rankings are now open! This survey identifies voluntary carbon market (VCM) leaders, including project developers, traders, and service providers. The VCM is a key tool for advancing critical finance to climate mitigation activities that have myriad additional benefits. ➡️ Leaders have an important role in this market – and we need to know who they are and what they do! 🏆 Verra’s Verified Carbon Standard (VCS) Program, the world’s largest voluntary greenhouse gas (GHG) crediting program, has won the award for “Best GHG Crediting Programme” (formerly “Best Voluntary Carbon Standard”) ten times since 2012. Additionally, the Verra Registry has been voted “Best Registry Provider” every year since that category was added in 2021. 📆 The survey is open until Friday, July 26. We hope you will once again show your support for Verra this year. Cast your vote: https://bit.ly/4ctjHsY

The US Environmental Protection Agency (EPA) has recently announced a new Notice of Funding Opportunity which provides up to $932 million in funding for eligible clean heavy-duty vehicles. This is part of the 2024 Clean Heavy-Duty Vehicles Grants Program, soliciting applications to fund the replacement of current non-zero-emission heavy-duty vehicles. The application process is now open with a deadline of July 25, 2024, at 11:59 PM (ET), and the EPA plans to notify selected applicants by November 2024, with grant awards by February 2025. This initiative represents a significant step towards reducing environmental impact and fostering sustainability in heavy transportation. Learn more here: https://lnkd.in/esccEyze #ushydrogenalliance #hydrogen #cleanhydrogen #hydrogennow #hydrogeneconomy #hydrogenhubs #fuelcell #zeroemission #energy #cleanenergy #decarbonization #sustainability

A proposal from the Council on Environmental Quality aims to increase public engagement, especially with environmental justice communities and indigenous populations. It also lessens the potential for renewable energy projects to need environmental impact statements and allows those projects to potentially use a different — and likely faster and less burdensome — National Environmental Policy Act process. Learn more about the changes in this alert by Aaron Szabo. #Environmental #ClimateChange #CEQ #Energy #EnvironmentalJustice

NJ Department of Environmental Protection has published their Green Remediation Guidance (GRG), promoting the ongoing shift to more sustainable and resilient practices in all industries. For the remediation of contaminated sites, some strategies that satisfy the GRG are already included in typical project planning to ensure selection of the most cost-effective remedial option. Improved documentation and highlighting use of those strategies, and deeper evaluation of newer concepts such as vulnerability and adaptation in each step of the process can support NJDEP initiatives for positive change. The GRG is summarized here https://lnkd.in/ebGAuVx5 and includes a link to the GRG document itself. New Jersey Business & Industry Association (NJBIA) The Commerce and Industry Association of NJ BCONE - Brownfield Coalition of the Northeast NAEM American Society of Adaptation Professionals Peak Environmental, A Nova Group, GBC Company Nova Group, GBC

The US Environmental Protection Agency (EPA) is buried under a mountain of permit applications from companies that want to store carbon dioxide underground. In little more than a year, the list of permit applications from would-be project developers seeking to inject carbon dioxide into rock formations for permanent storage has ballooned from 14 to 119, driven by generous new federal tax incentives, the fear of future regulation, and corporate climate commitments. #ccus #carboncapture #carbonmanagement #carbondioxideremoval #carbondioxide #carbonreduction #carbonemissions #carbonstorage

The Washington Post editorial board argues that NEPA, related environmental laws and local green-group litigation has stymied the energy transition to electrification and non- carbon energy. In an op-ed looking at a successful court challenge to stop the last mile or so of a transmission line to carry mid-western renewable energy, the Post cites studies from Stanford and Resources for the Future on how our skeptical, expensive and time-consuming permitting process is delaying a timely response to climate change and our commitments under the Paris Accord. Congress has been looking at this permitting issue over the last several years, but has been unable to come up with a solution to a 50-year process problem we built through laws, regulations and litigation. #NEPA #energytransition #renewableenergy