Bill > SB18

This bill establishes statewide greenhouse gas emissions limits and requires reporting, aiming to reduce emissions significantly by 2030, 2040, and 2050 compared to 2005 levels, with the goal of achieving 100% reduction by 2050. It defines "greenhouse gas" as specific heat-trapping gases like carbon dioxide and methane, excluding water vapor, and "statewide greenhouse gas emissions" as the total net human-caused emissions within the state, including those from out-of-state electricity production for in-state use. The bill expands the duties and powers of the Environmental Improvement Board and local boards to adopt plans and rules for these reductions, specifying that rules for stationary sources will only apply to those emitting 10,000 metric tons or more annually, or groups of sources collectively emitting 25,000 metric tons or more. It mandates the adoption of greenhouse gas monitoring and reporting requirements by September 2027, including reporting in carbon dioxide equivalents, and requires the Department of Environment to publish an annual greenhouse gas emissions report starting in December 2028, detailing baseline data, current emissions, projections, and actions to meet the limits. The bill also outlines a process for certifying mechanisms that offset emissions through greenhouse gas removal or reduction, ensuring these are additional, real, permanent, quantifiable, verifiable, and enforceable, and requires consultation with tribal governments and outreach to affected communities before rulemaking.

https://www.nmlegis.gov/Legislation/Legislation?chamber=S&legtype=B&legno=18&year=26