New Mexico is at a turning point. With the two largest wildfires in the state’s history occurring in 2022, and a multi-decade drought, statewide climate action must happen now. Fortunately, Congress recently passed several far-reaching initiatives: the American Rescue Plan Act, the bipartisan Infrastructure Investment and Jobs Act, and the historic investments in climate and equity in the Inflation Reduction Act. Funds from this legislation, if fully leveraged by the state, could not only help address climate change but also jumpstart our economy, producing sustainable jobs while protecting our cultural and environmental legacy.
As it stands, our state’s economic reliance on oil and gas is substantial, with the industry now accounting for more than 40% of New Mexico’s General Fund. This has driven decisions that incentivize oil and gas development. However, oil and gas support of the state budget varies drastically with the boom-and-bust cycle of fossil fuels, and the dramatically fluctuating revenue streams hamstring the state’s ability to plan long-term.
We are still early on the road to an equitable zero-emission economy. With so much at stake at the local and federal level, we must build on the progress New Mexico has made in recent years. We will do this by engaging statewide and collaborating with communities most impacted by the climate crisis. Our goal: an equitable transition to a zero-emission economy, and a New Mexico built around conservation, restoration, and equity.
CVNM Education Fund partners with and supports these organizations in order to move the needle on Climate & Energy.