Starting in June, New York City will introduce congestion pricing, limiting traffic and generating funds for public transit. (Photo: 123RF)
GUEST EXPERT. Quebec sometimes presents itself as a leader in the fight against climate change. If we really want to aspire to that title, it might be helpful to look immediately south of our province, to New York State.
In 2019, New York adopted its Climate Leadership and Community Protection Act. The objective is similar to that of Quebec for 2030, i.e. a 40% reduction in GHG emissions compared to the 1990 level.
However, two elements are very distinct in our neighbors’ approach.
This first element is technical, but crucial. It establishes the period over which we calculate the warming potential of greenhouse gases (GHG): over 20 years or over 100 years?
It is obvious that by amortizing the climate cost of a ton of GHGs over 100 years, the impact appears less than over 20 years.
The international standard adopted in GHG inventories is to use 100 years. This is how Quebec reports its annual GHG emissions.
In New York, as a climate leader, they chose to act in accordance with the climate emergency and count their emissions based on the damage caused over 20 years.
Thus, instead of declaring emissions for 2021 of 185 million tonnes (Mt) of GHG (as the U.S. federal government states for New York State), inventory published by New York shows 387 Mtor twice as much GHG.
This is not only because they use a 20-year base, but also because, unlike the federal inventory, they include GHG emissions linked to electricity production outside their borders.
In this context, Quebec electricity exports are particularly advantageous for New York, because they do not increase their carbon footprint.
By opting for this carbon accounting, the State of New York can only boast of having reduced its emissions by 9% between 1990 and 2021, whereas with conventional accounting, it could declare a reduction of 21%.
What would a usual government have chosen, 9% or 21%?
A carbon market more serious than ours
Truly aspiring to the title of leader in the fight against climate change, New York plans to adopt a GHG cap-and-trade system (SPEDE) similar to that of Quebec and California, and this , from 2024 to reach the 2030 target.
The Quebec SPEDE is very efficient.
This is the only firm constraint on total GHG emissions implemented in Canada. However, problems have been identified, notably the overabundance of emissions rights, weakening the cap constraint.
The Quebec government recognizes this problem by talking about a potential “optimization” of the carbon market in 2024, as indicated on page C.76 of the recent budget 2024-2025.
The New York market should distinguish itself by banning offset credits, which artificially raise the emissions cap, and by adjusting each year the number of emission rights distributed according to existing reserves.
If the reserves allow more emissions than the annual cap, New York would put fewer rights into circulation, avoiding the current situation in the California-Quebec market, where the reserves correspond to approximately a full year of emissions.
Real constraints are developing in New York
It is not yet certain whether this stricter and more efficient carbon market will be implemented in New York.
The Quebec government could also optimize our carbon market so that it lives up to a climate leader.
However, in terms of data transparency and discourse, the New York government is clearly more advanced than that of Quebec.
On the ground, we are also seeing leadership in New York that we are still waiting for here.
Starting in June, New York City will introduce pricing on road congestionlimiting traffic and generating funds for public transportation.
It will cost US$15 (CA$20.35) per car to enter Manhattan, with the revenue going to improve buses and subways.
It is with this type of initiatives that the ambitious objectives will be achieved.
You don’t have to look far for climate inspiration: our neighbors to the south offer us valuable lessons.
2024-04-04 22:31:00
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