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Transportation & Climate Initiative would be a win for Vermont
TCI is a cap-and-invest program similar to the Regional Greenhouse Gas Initiative (RGGI) that Vermont participates in to reduce carbon pollution from electricity generation. In 2005, Republican Gov. Jim Douglas signed on together with six other Northeast states. Vermont is still a part of it today, and it has been successful in multiple ways. Analysis from Acadia Center shows that since 2008:
GDP of the RGGI states has grown by 47%, outpacing growth in the rest of the country by 31%;
Electricity prices in RGGI states have fallen by 5.7%, while prices have increased in the rest of the country by 8.6%;
RGGI states have generated $3.4 billion in allowance auction proceeds, the majority of which have been invested in energy efficiency and renewable energy programs, including incentives for advanced wood heat and solar panels;
CO2 emissions from RGGI power plants have fallen by 47%, outpacing the rest of the country by 90%.
Read the full article from VTDigger here.
Amid coronavirus pandemic, air pollution declines in Boston and elsewhere
"We were expecting action on TCI soon, but at this point, given that governors' attention is elsewhere, I think we're unlikely to have an announcement this spring," said Jordan Stutt, carbon programs director for the Acadia Center, an environmental advocacy group in Boston.
Stutt remained optimistic that states will ultimately look to TCI with a "renewed sense of urgency," as the program could serve as a source of much-needed revenue and jobs to a region with surging unemployment claims and depleted financial reserves.
"It's a public health program and an economic stimulus program wrapped in one," he said. "The billions of dollars generated could be invested in infrastructure programs and high quality jobs."
Read the full article from the Boston Globe here.
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