Nine Northeastern and Mid-Atlantic states and Washington, DC have partnered to form a regional cap-and-invest system to cut transportation-related carbon emissions. Connecticut, Delaware, Maryland, Massachusetts, New Jersey, Pennsylvania, Rhode Island, Vermont and Virginia have agreed to participate.
The coalition committed to designing a market-based, low-carbon regional transportation policy that will cap emissions at a yet-to-be-determined level. In cap-and-invest systems, the companies that produce pollution must pay for their emissions. The intent for this program is to reinvest proceeds into more clean transportation options including public transit and zero-emissions vehicles. The program will include reporting and monitoring guidelines to ensure transportation-related emissions decline over time.
The partners aim to finish drawing up the policy within one year and member jurisdictions will individually decide whether to adopt and implement it.