Hansen’s Comprehensive Greenhouse Gas Emission Reduction Bill to Receive Hearing in Senate Transportation & Energy Committee
SB23-016 will lower Colorado’s greenhouse gas emissions through reduction targets, electrification incentives, climate-aware investments, and more
DENVER, CO – As part of legislative Democrats' ongoing effort to reduce Colorado’s greenhouse gas emissions, Senator Chris Hansen, D-Denver, recently introduced comprehensive greenhouse gas emission reduction legislation that will receive a hearing in the Senate Transportation & Energy Committee on Wednesday.
SB23-016 would update the state’s emission reduction goals to match the latest climate science by adding interim targets, including a 65 percent reduction in greenhouse gas emissions relative to 2005 levels by 2035, and a new goal of net-zero emissions by 2050.
To help reach these targets, the bill would require the Public Utility Commission to prioritize the renovation, rebuilding, and reconditioning of electrical transmission lines, enabling and improving electrification across the state. Permitting for these projects would be expedited and the construction would be included in the state’s labor standards.
“As the effects of climate change become more and more pronounced, it is obvious we must implement bold policies to reduce greenhouse gas emissions and mitigate the impacts on our climate and our environment,” Hansen said. “Coloradans are demanding we act, and we plan to tackle this challenge head on by implementing policy that will reduce emissions, set reasonable and reachable goals, and put our state on a path to climate sustainability for generations to come.”
To further enable electrification, the bill would incentivize the retirements of a major local ozone contributor: lawn equipment. Purchasers of electric lawn mowers, leaf blowers, trimmers, and snowblowers would qualify for 30 percent off at the point-of-sale and a corresponding tax credit would be provided to the retailer.
SB23-016 also encourages climate-aware financial investing by requiring large insurance companies to complete a climate risk disclosure survey and would require PERA - the retirement provider for over 600,000 Colorado public employees - to consider climate change related risk and adopt proxy voting procedures that are in line with the state’s climate goals.
Finally, the bill would update net metering credits for community solar gardens, expand the definitions of “pollution control equipment” and “clean heat resource” to include currently underutilized wastewater thermal energy, and enable Colorado to lead in carbon sequestration by allowing the state to apply to the EPA for Class VI injection well primacy.
SB23-016 will be heard in the Senate Transportation and Energy Committee on Wednesday, January 25th. Track the bill’s progress HERE.
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