New York, NY, May 09, 2024 (GLOBE NEWSWIRE) — Governor Kathy Hochul today launched a first-in-the-nation, voluntary climate action pilot program for hospitals, focused on improving worker health and safety while addressing the harmful impacts of climate change on the environment. The program provides premium credits of up to $1 million to New York State Insurance Fund-insured hospitals that pledge to achieve net zero greenhouse gas emissions by 2050 and enhance their resilience to extreme weather events, helping mitigate the climate-related hazards that contribute to steep increases in workplace injuries and illnesses. The pilot builds on Governor Hochul’s commitment to building a greener, more sustainable future for New Yorkers, as well as recent investments secured in the FY 2025 Enacted Budget to advance the Governor’s climate agenda.New York State’s climate agenda calls for an orderly and just transition that creates family-sustaining jobs, continues to foster a green economy across all sectors and ensures that at least 35 percent, with a goal of 40 percent, of the benefits of clean energy investments are directed to disadvantaged communities. Guided by some of the nation’s most aggressive climate and clean energy initiatives, New York is advancing a suite of efforts – including the New York Cap-and-Invest program (NYCI) and other complementary policies – to reduce greenhouse gas emissions 40 percent by 2030 and 85 percent by 2050 from 1990 levels. New York is also on a path to achieving a zero-emission electricity sector by 2040, including 70 percent renewable energy generation by 2030, and economy-wide carbon neutrality by mid-century. A cornerstone of this transition is New York’s unprecedented clean energy investments, including more than $40 billion in 64 large-scale renewable and transmission projects across the state, $6.8 billion to reduce building emissions, $3.3 billion to scale up solar, nearly $3 billion for clean transportation initiatives and over $2 billion in NY Green Bank commitments. These and other investments are supporting more than 170,000 jobs in New York’s clean energy sector as of 2022 and over 3,000 percent growth in the distributed solar sector since 2011. To reduce greenhouse gas emissions and improve air quality, New York also adopted zero-emission vehicle regulations, including requiring all new passenger cars and light-duty trucks sold in the state be zero emission by 2035. Partnerships are continuing to advance New York’s climate action with more than 400 registered and more than 130 certified Climate Smart Communities, nearly 500 Clean Energy Communities, and the state’s largest community air monitoring initiative in 10 disadvantaged communities across the state to help target air pollution and combat climate change.With nearly 200,000 policyholders, $1.9 billion in annual premiums, and over $20 billion in invested assets, NYSIF is the largest workers’ compensation insurer in New York State and among the ten largest nationwide. NYSIF’s mission is to guarantee the availability of workers’ compensation, disability insurance and paid family leave at the lowest possible cost to New York employers while maintaining a solvent fund. Since its inception in 1914, NYSIF has fulfilled this mission by competing with other insurance carriers to ensure a fair marketplace while serving as a guaranteed source of coverage for employers who cannot secure coverage elsewhere. NYSIF strives to achieve the best health outcomes for injured workers and be an industry leader in price, quality, and service for New York employers. For more information, visit nysif.com.
(GlobeNewsWire)