New York Clean Fuel Standard
On June 8, 2023 Senate Bill S1292 which establishes the clean fuel standard of 2023 passed the New York state senate. It is now delivered to the assembly.
The New York Clean Fuel Standard (CFS) program will be aimed at reducing the carbon intensity of transportation fuels sold in the state. The program sets a declining annual target for the carbon intensity of transportation fuels and assigns a carbon credit or deficit to each fuel supplier based on the fuel’s carbon intensity.
Fuel suppliers must accumulate enough credits to offset their deficits, or they can purchase credits from other fuel suppliers that have surplus credits. The goal of the CFS program is to encourage the use of lower-carbon transportation fuels and reduce greenhouse gas emissions from the transportation sector.
The New York program has several goals such as reducing the carbon intensity of transportation fuels by 20% by 2030, encouraging the use of lower-carbon transportation fuels, such as electric vehicles, hydrogen fuel cells, and biofuels, promoting a cleaner and more sustainable transportation system in the state.
