Updated: January 19, 2018
Oregon lawmakers are considering adopting an economy-wide, cap-and-invest program to meet the state’s long-term greenhouse gas (GHG) reduction goals. On January 8, 2018, the Oregon House and Senate released cap-and-invest bills that are expected to be taken up for a vote during the state’s short legislative session. These bills are broadly based on Senate Bill 1070, introduced in 2017, which set a framework for reducing emissions in the state, while mitigating potential cost impacts and driving investment in clean energy projects.
Oregon is one of a dozen or so states and Canadian provinces taking steps to limit GHG emissions to address the threat of climate change. States in the Northeast have been working to strengthen the existing Regional Greenhouse Gas Initiative (RGGI) trading program through 2030. Virginia has proposed a trading program that would link with the RGGI market. New Jersey is expected to rejoin RGGI after Governor Chris Christie pulled the state out of the program in 2011. And, Ontario joined California and Quebec in the Western Climate Initiative (WCI) carbon market in 2018 after launching its own program in 2017.
This fact sheet explores what a cap-and-invest program could mean for Oregon based on analysis of SB 1070 and the draft House and Senate bills released by Senator Michael Dembrow and Representative Ken Helm.
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