Quebec carbon market plans advance

New Mexico lawmakers revisit GHG bill

New Mexico lawmakers revisit GHG bill

Houston, 23 January (Argus) — New Mexico lawmakers have revived legislation to create a framework for reporting and limiting greenhouse gas (GHG) emissions in line with state goals, which could include a trading program. A group of lawmakers on Thursday introduced SB-18, known as the Clear Horizons bill, which would direct state agencies to report and implement measures to reduce GHG emissions. The bill allows for the use of cap-and-trade or other emission-trading programs and would enshrine into law the state's GHG targets. State Senate president pro tempore Mimi Stewart (D), senator Angel Charley (D), and state representatives Kristina Ortez (D) and Andrea Romero (D) are sponsoring the bill. Stewart introduced a previous version of the bill in the 2025 legislative session, but it did not progress further than a committee vote. The agencies' plans must help achieve a 45pc reduction in the state's GHG emissions by 2030, compared with a 2005 baseline of 96.4mn metric tonnes (t) of CO2 equivalent. The plans must also achieve net zero emissions by 2050. The state can meet these goals through direct emissions reductions or with offset projects. The New Mexico Department of Environment and local air quality boards must propose regulations to meet the state's targets, including monitoring and reporting requirements and emissions reductions, for approval by the Environmental Improvement Board (EIB). The bill would require EIB to adopt monitoring and reporting requirements by October 2027, with implementation in 2028. These reports would include methane emissions from oil and gas exploration and production along with GHG intensity. SB-18 also would require the EIB to adopt certification methodology for carbon offset projects located in-state or on tribal land from sources not covered under state law. The new rules would apply to entities emitting 10,000 t/yr or more. The law would also cover multiple stationary sources in the state under shared ownership with combined emissions of 25,000 t/yr, even if each source emits fewer than 10,000 t/yr. The bill would include emissions from electricity imported from outside New Mexico. But the GHG limits would not apply to stationary sources located on tribal reservation lands. EIB must certify at least every two years that the adopted rules will achieve the state's emissions-reduction targets and revise the rules if they will not. SB-18 is supported by 41 organizations, including the Coalition for Clean Affordable Energy, the Environmental Defense Fund and the New Mexico Climate Investment Center. By Denise Cathey Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.