National and Local Companies Form New Mexico Clean Fuels Coalition to Support Diversification of State's Economy
Albuquerque, NM (March 5, 2021) – In response to New Mexico’s proposed Clean Fuel Standard legislation, 21 national and New Mexico-based companies and organizations formed the New Mexico Clean Fuel Coalition to support the state’s efforts to diversify New Mexico’s economy while decreasing greenhouse gas emissions. The Coalition was formed in conjunction with the Low Carbon Fuels Coalition, a national organization that plays a leading role in helping shape clean fuel policy at state and national levels.
If enacted, the Clean Fuel Standard Act, SB 11, would establish a market-based approach to cut greenhouse gas emissions from transportation fuels, requiring fuel producers and importers to reduce the amount of carbon in fuels used in New Mexico —a 10% reduction by 2030 and a 28% reduction by 2040. Fuel producers and importers can meet the reduction goals by purchasing credits if they are not able to produce sufficiently low-carbon fuels. Credits may be generated from any business in any sector of New Mexico’s economy – including the agriculture, chemical, dairy, energy, forestry, manufacturing, mining, oil and gas, waste management and wastewater treatment industries.
“This proposed legislation aligns with the Coalition’s mission to support market-based clean fuel policies in the United States,” said Graham Noyes, Executive Director of the Low Carbon Fuels Coalition. “We are excited about this new business coalition forming in New Mexico and look forward to working with the Governor and her leadership team on this legislation and on future clean fuel policies.”
Adelante Consulting, Inc., is coordinating efforts of the New Mexico Fuels Coalition. Adelante is a New Mexico-based firm with expertise in market-based trading programs and a member of the Low Carbon Fuels Coalition. Adelante Consulting identified the adoption of a low carbon fuel standard in New Mexico as a key policy prerequisite to attract bio-based industry to the state in a feasibility study for Sandoval County, NM.
Charter members of the coalition represent a broad spectrum of companies and organizations including:
Advanced Biofuels Community Fuels
Biotechnology Innovation Organization
The Coalition for Renewable Natural Gas
Natural Gas Vehicles for America
Renewable Energy Group
Rio Valley Biofuels
Yosemite Clean Energy