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Mountain West region director for the American Petroleum Institute, said the trade group is “generally supportive” of many elements of the bill, including a provision giving the Colorado Oil and Gas Conservation Commission authority to regulate injection wells for carbon sequestration. API said it is concerned, however, about one measure “which appears to compel PERA to divest from its energy investments.”

“Colorado remains an irreplaceable foundation of American energy security, and we are con dent that the nal iteration of this e ort can coexist with that reality,” Granger said.

Hansen’s Senate Bill 16 is co-sponsored by Democratic Reps. Karen McCormick, Longmont, and Emily Sirota, Denver.

Some key measures of the multifaceted bill:

• Sets new greenhouse gas reduction goals of 65% from 2005 benchmark levels by 2035, 80% by 2040, 90% by 2045 and 100% in 2050. e state’s current greenhouse gas reduction targets from a 2019 law are set at 26% in 2025, 50% by 2030, and 90% by 2050.

• Requires the PERA board by June 1, 2024, to adopt proxy voting procedures that “ensure that the board’s voting decisions align with, and are supportive of, the statewide greenhouse gas emission reduction goals.”

• Adds wastewater thermal energy to the de nition of “clean heat resource.” Wastewater pipes can transfer their heat to clean water pipes that circulate to heat or cool ambient air in nearby buildings. A utility could include wastewater energy in its clean heat plan led with the Public Utilities Commission. Gives the Colorado Oil and Gas Conservation Commission authority over injection wells used for seques- tration of greenhouse gasses, in part to give state authorities “primacy” over federal rules for the Safe Drinking Water Act.

• Requires local governments to expedite review of land use applications involving the renovation, rebuilding or reconditioning transmission lines.

• Beginning in 2024, insurance companies doing business in Colorado with more than $100 million of activity must participate in and complete a national “Insurer Climate Risk Disclosure Survey.” e retailer would be able to claim the credit and take the amount o the price at the point of sale.

• Creates a 30% tax credit for qualifying clean electric lawn and garden equipment like mowers, trimmers, and leaf or snow blowers.

With Colorado “o the track” of its greenhouse gas reduction goals, the bill could help in “clarifying the scope and pace the state must achieve,” said Michael Hiatt, deputy managing attorney for Earthjustice’s Rocky Mountain o ce.

“But to actually achieve these goals, Colorado must accelerate its actions on climate and fully utilize the new federal funding that will make it even more a ordable for Coloradans to drive electric vehicles, install rooftop solar and energy e ciency measures, and stop burning fossil gas in their homes,” he said.

Jeremy Nichols, director of the climate and energy program for WildEarth Guardians, said “It’s encouraging to see legislative interest in reinforcing the need for major greenhouse gas reductions over the coming decades.” is story is from e Colorado Sun, a journalist-owned news outlet based in Denver and covering the state. For more, and to support e Colorado Sun, visit coloradosun.com. e Colorado Sun is a partner in the Colorado News Conservancy, owner of Colorado Community Media.

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