>>> GOVERNOR CUOMO'S GREEN NEW

DEAL INITIATIVE ROLLED OUT IN

HIS 2019 STATE OF THE STATE

ADDRESS.

IN IT, THE GOVERNOR LAID OUT

MANY PROPOSALS, THE MOST

AMBITIOUS BEING A CALL FOR NEW

YORK TO BE 100% RELIANT ON CLEAN

ENERGY BY THE YEAR 2040.

AND THAT'S JUST ONE OF THE MANY

PLANS HE HAS IN STORE FOR NEW

YORK, STARTING THIS YEAR.

AS PART OF OUR ONGOING PERIL AND

PROMISE, MULTIREPORTING

PLATFORM, WE EXPLORE THE IMPACT

OF CLIMATE CHANGE.

TONIGHT WE'RE TAKING A DEEP DIVE

INTO THE GOVERNOR'S GREEN NEW

DEAL.

HERE WITH THE DETAILS ON WHAT TO

WATCH UNFOLD THIS YEAR AS THE

DEAL MOVES FORWARD IS OUR GOOD

FRIEND BILL OLENFELDERE,

DIRECTOR OF THE NATURE

CONSERVANCY.

GOOD TO HAVE I DON'T HERE.

>> GOOD TO BE HERE.

I THINK IT'S IMPORTANT TO

UNDERSTAND THE CHOICE OF THE

WORDS.

THE "NEW DEAL" PART IS REALLY

HARKENING BACK TO FDR AND TRYING

TO BRING THIS COMPANY OUT OF

DEPRESSION.

IT WAS ABOUT JOB CREATION AND A

STRONG ECONOMY.

A AND THE GREEN PART IS ALL

ABOUT THE ENVIRONMENT,

SUSTAINABILITY, AND REALLY

FOCUSED ON CLIMATE CHANGE AND

SAYING WE HAVE THE OPPORTUNITY

TO BECOME A CARBON --

INDEPENDENT, CARBON-FREE STATE

BY 2040.

AND IN THE TRANSITION TO THAT,

WE'RE ACTUALLY GOING TO CREATE

JOBS AND HAVE A STRONGER ECONOMY

AND BE BETTER OFF AS A STATE

ECONOMIC WHILE WE DO THE RIGHT

THING TO COMBAT CLIMATE CHANGE.

>> WHAT SORT OF RESISTANCE, IF

ANY, HAVE YOU SEEN IN TERMS OF

THE GOVERNOR'S PROPOSALS HERE?

>> WELL, I THINK -- THE CONCERNS

THAT I HEAR, AND I WAS JUST

TALKING TO SOME FOLKS EARLIER

TODAY, SO ONE OF THE ELEMENTS

THE GOVERNOR INCLUDED IN HIS

PLAN IS QUADRUPLING THE AMOUNT

OF WIND INJURY OFFSHORE THAT NEW

YORK GENERATES.

SO HE SET A GOAL OF 9,000

MEGAWATTS.

AND TO PUT THAT IN PERSPECTIVE,

THAT IS THE EQUIVALENT OF 15

COAL-FIRED POWER PLANTS.

NOW I THINK SOME OF THE CONCERNS

ARE PEOPLE THINK OH, MY GOSH,

THIS COULD HERALD THE

INDUSTRIALIZATION OF OUR

OFFSHORE WATERS AS WE BUILD ALL

THIS INFRASTRUCTURE.

AND THERE NO QUESTION THAT IT

WILL.

BUT I HAVE TO SAY WHEN YOU LOOK

AT THE TRADE-OFFS, I WOULD

RATHER AN INDUSTRIALIZED

OFFSHORE WATERS OF NEW YORK

BUILT ON CLEAN GREEN ENERGY THAN

BOILING THE OCEAN, WHICH IS

ESSENTIALLY WHAT'S GOING TO

HAPPEN IF WE DON'T ADDRESS

CLIMATE CHANGE.

THAT'S ONE EXAMPLE.

THE OTHER IS HOW DO YOU PAY FOR,

THIS WHERE DOES THE MONEY GO AND

HOW ARE WE INVESTING.

>> WHAT WERE SOME OF THE

SUGGESTIONS FROM THE GOVERNOR IN

ALBANY ABOUT WHERE THE MONEY

COMES FROM?

>> WELL, A COUPLE OF THINGS.

ONE IDEA IS A CARBON FEE.

AND THIS IDEA THAT NEW YORKERS

ARE READY TO DIRECTLY PAY OUT OF

THEIR POCKET IF THEY COULD HAVE

THOSE FUNDS DIRECTED AT SOLVING

THE PROBLEM.

OR, YOU KNOW, THERE ARE A WHOLE

VARIETY OF WAYS.

WHAT WE'RE SEEING ALSO IS FOLKS,

WE DO THIS.

WE'RE ALREADY PAYING A PREMIUM

TO GET CLEAN, RENEWABLE

ENERGY

FOR OUR APARTMENT.

THEY NEED TO PLAY OUT ON A LOT

OF DIFFERENT FRONTS.

SO WILL BE AT THE COMPANY LEVEL.

SOME WILL BE AT THE HOUSEHOLD.

BUT AT THE END OF THE DAY WE'VE

GOT TO GENERATE THE RESOURCE,

BECAUSE WE'RE ALREADY PAYING FOR

CLIMATE CHANGE.

THAT'S WHAT I WANT --

>> HOW DO YOU MEAN?

>> HURRICANE SANDY, $40 BILLION

OF DAMAGE IN THE WAKE OF THAT.

IRENE, LEE, UPSTATE, WELL NORTH

OF $10 BILLION.

SO WE'VE GOT UPSTATE FLOODING.

THERE ARE PERIODS OF DROUGHT.

WILDFIRES NOT LIKELY HERE IN NEW

YORK, LIKE WHAT WE'RE SEEING IN

CALIFORNIA, BUT NOW THESE

HURRICANES ARE COSTING US OVER

100 BUILDS IN DAMAGES.

SO WHAT WE NEED TO REMEMBER IS

THE COST, THE PAYMENTS THAT WE'D

BE MAKING ARE ESSENTIALLY WAYS

TO MITIGATE AND MINIMIZE ALL OF

THIS RISK.

AS WE'RE PAYING, WE'RE ACTUALLY

OFFSETTING WHAT WE'RE ALREADY

PAYING.

>> ONE OF THE THINGS WE'VE SEEN

A LOT OF ATTENTION FOCUSED ON IS

THE NOTION OF BANNING PLASTIC

BAGS.

BUT I'VE HEARD PEOPLE SAY COME

ON, WE'RE TALKING ABOUT MAJOR

CLIMATE CHANGE.

REALLY, DO WE NEED TO BE

FOCUSING ON PLASTIC BAGS?

WHAT DIFFERENCE DO THEY MAKE?

WHAT'S THE ANSWER TO THAT?

>> THEY MAKE A BIG DIFFERENCE.

NEW YORKERS CONSUME 25 BILLION

SINGLE-USE PLASTIC BAGS A YEAR

STATEWIDE.

WITH A B.

IT'S A STUNNING FIGURE.

AND WHAT HAPPENS IS -- SO THERE

IS A LOT OF ELECTRICITY AND

CARBON THAT GOES INTO THEIR

PRODUCTION, AND THEN WE'RE

TRUCKING THEM OFF TO WASTE

FACILITIES.

BUT THE OTHER THING THAT'S

HAPPENING IS THEY'RE GOING INTO

OUR SEWERS AND OUR STORM WATER

SYSTEMS.

SO WHEN YOU HAVE BIG RAIN

EVENTS, THAT WATER NEEDS TO GO

SOMEWHERE.

WHEN YOU'VE GOT PLASTIC BAGS

CLOGGING UP YOUR DRAINS, THAT'S

GOING TO CAUSE PROBLEMS AND

FLOODING.

THE BAG BAN THAT CAME UP LITTLE

WHILE AGO, A COUPLE OF YEARS AGO

WAS REALLY JUST FOCUSED ON NEW

YORK CITY.

THIS WOULD BE A STATE-WIDE BAN.

AND THE THING WE REALLY BELIEVE

NEEDS TO HAPPEN IS NOT ONLY DO

YOU BAN SINGLE USE PLASTIC BAGS,

BUT PUT A FEE ON PAPER.

SO PAPER IS DEFINITELY NOT AS

BAD AS PLASTIC, BUT LET'S REALLY

ENCOURAGE PEOPLE TO USE REUSABLE

BAGS.

>> WE TALKED BEFORE ABOUT THIS

NOTION OF CONGESTION PRICING.

THE IDEA OF BEING AND SOME

CRITICS SAYING HEY, WE'RE WE'RE

TALKING ABOUT DOING IS YOU'RE

NOT GOING TO CUT DOWN.

PEOPLE ARE STILL GOING TO DRIVE

IN THE CITY BECAUSE THEY HAVE

TO.

IT JUST MEANS THAT SMALL

PERCENTAGE OF PEOPLE WILL PIEPAY

PAY A LOFT MONEY FOR DRIVING IN.

YOUR SENSE THAT IT'S GOING TO

HAPPEN IN 2019?

>> I THINK A COUPLE OF THINGS.

THIS SHIFT WITH THE LEGISLATURE,

THAT'S VERY IMPORTANT.

THAT'S A NEW FACT THAT WE'RE

RESPONDING TO.

I THINK ALSO THE FACT THAT THE

TRANSPORTATION SYSTEM IS JUST AT

THIS CRISIS LEVEL, AND PEOPLE

ARE FED UP, FRUSTRATED, ANGRY,

AND WANT A SOLUTION.

AND SO I THINK ALL OF THOSE

FACTORS TOGETHER ARE SAYING THIS

IS THE MOMENT FOR CONGESTION

PRICING TO HAPPEN, AND NEW YORK

CAN REALLY BE AN EXAMPLE TO THE

REST OF THE COUNTRY ABOUT HOW

YOU DO THIS AND HELP SOLVE THE

CLIMATE CRISIS.

>> WILL IT GET DONE?

WE'RE GOING TO BRING YOU BACK IN

A LITTLE LATER AND SAY WHERE ARE

WE ON ALL OF THIS?

>> WELL, THANKS, JACK, AND

THAT'S A DEAL.