Alliance members are working to achieve the Paris Agreement’s goal of keeping temperature increases below 1.5 degrees Celsius by reducing emissions, accelerating action, centering equity, and tracking progress. 

Explore New Mexico's policies and actions across the Alliance's 10 key policy areas. Numbers presented below only reflect the number of policies in this database and thus may not reflect all climate policies pursued.

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GHG Targets + Governance

Just Transition + Equity

Industry

Pricing Carbon + Valuing Damages

Electricity

Transportation

Resilience

Natural + Working Lands

Climate Finance

Buildings

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SB48: An Act Relating to Public Finance; Creating the Community Benefit Fund

Governor Lujan Grisham signed into law Senate Bill 49, which established the Community Benefit Fund, a non-reverting fund in the state treasury containing $210 million for communities to use for a series of projects to mitigate climate change impacts. These include: train workers in the oil and gas industry for other jobs; reduce oil and gas emissions; improve the electric grid; develop renewable energy projects; modify public buildings to be more energy efficient; reduce the impacts of climate change on human health, agriculture and the environment; purchase electric vehicles and develop charging infrastructure.

The legislation also includes requirements for projects to conduct outreach and consult with overburdened communities, as well as negotiate a community benefit agreement. It also directs the identification of a data tool to identify overburdened communities in the state.

The Community Benefit Fund will fund projects to mitigate climate change impacts. These include: train workers in the oil and gas industry for other jobs; reduce oil and gas emissions; improve the electric grid; develop renewable energy projects; modify public buildings to be more energy efficient; reduce the impacts of climate change on human health, agriculture and the environment; purchase electric vehicles and develop charging infrastructure

Community Benefit Fund

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HB 128: Local Solar Access Fund

Establishes the Local Solar Access Fund within the New Mexico Finance Authority to provide grants for solar energy system installations. The act directs the Authority to adopt rules for program administration and appropriates funds to support the grants.

HB 218: Tax Changes

The bill seeks to modernize and streamline various taxation provisions in New Mexico, particularly focusing on the Metropolitan Redevelopment Code and the Tax Increment for Development Act. The bill also introduces new tax credits, including renewable energy technologies, while amending existing tax credit provisions related to sustainable building practices and agricultural biomass. The bill establishes a refundable geothermal ground-coupled heat pump income tax credit covering 30% of purchase and installation costs, up to $9,000 per taxpayer, for systems installed from May 15, 2024, through December 31, 2034.

HB 458; Carbon Dioxide Storage Stewardship Act

Transfers the ownership of storage wells to state oversight within five years of final injection. The Act also creates a stewardship fund that will be financed by a fee per metric ton of carbon dioxide stored, ensuring the state is resourced to provide long-term monitoring of the wells.

SB 462

Creates New Mexico Outdoor Recreation Division in the Economic Development Department and The Outdoor Recreation Advisory Committee

This grant supports transformative outdoor experiences that foster stewardship and respect for New Mexico's lands, waters, and cultural heritage while connecting youth to outdoor recreation career pathways.