New Mexico Gov. Michelle Lujan Grisham announced the introduction of the New Mexico Clean Fuel Standard Act, which would reduce carbon emissions and support clean jobs and economic growth in the state. Here's why it matters.
The New Mexico Clean Fuel Standard Act,filed by State Sen. Mimi Stewart and State Rep. Nathan Small, would require fuel producers and importers to reduce carbon emissions of transportation fuels by 10% by 2030 and 20% by 2040.
There are multiple ways to meet the standard,explains the fact sheet:
- “Blending high carbon-intensity fuel with renewable organic material to produce biodiesel and ethanol.”
- “Offsetting high carbon-intensity fuel with credits purchased from generators of low-carbon-intensity fuels, like hydrogen and renewable natural gas.”
- “Businesses can generate high-value credits by investing in efforts to reduce emissions in the transportation fuel chain.”
In addition to cleaning up the environment, “industries related to the in-state production of low-carbon fuels could see significant job growth in New Mexico and $47 million in carbon-reduction investments if a CFS program is implemented,” the release continues.
The standard “does not present a numerical standard for any fuel, as that will be selected during the [New Mexico Environment Department] rulemaking process,” says the press release.
What they’re saying: “As the first state in the Southwest to seek a clean fuel standard program, we are blazing a path toward significant economic investments while tackling emissions that contribute to climate change,” says Gov. Lujan Grisham.
BIO and the Low Carbon Fuels Coalition (LCFC) thanked Gov. Grisham “for recognizing the potential of a clean fuel standard to decarbonize transportation—the state’s second-largest emitter of greenhouse gases.”
Stephanie’s Sage Words: Stable policies like a clean fuel standard that incentivize green energy breakthroughs will help improve the state’s air quality and public health, revitalize the state’s economy following COVID-19, and spur development in New Mexico's biotechnology sector. – Stephanie Batchelor, VP of BIO’s Industrial and Environment Section (cosigned by LCFC Executive Director Graham Noyes)
ICYMI: We might see low-carbon fuel standards in a few states this year.Read our recent reporting on which states we’re watching.
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