Overview

Description

Vermont participates in the Regional Greenhouse Gas Initiative (RGGI), which covers CO? emissions from the state's power sector. In June 2024, the Vermont State Legislature passed the "Transportation Bill" (Act 148 of 2024), which directed the Agency of Natural Resources and the Agency of Transportation to conduct a study of a cap-and-invest program as a potential approach to meeting the state's climate emission reduction goals. Vermont's 2025 Climate Action Plan included taking steps to join a cap-and-invest program as a priority recommendation, describing it as an overarching policy to deliver predictable GHG reductions in the transportation sector over time.

Recent Developments

In February 2025, the Vermont Agency of Natural Resources and Agency of Transportation completed the cap-and-invest study mandated under Act 148 of 2024. The State Treasurer's Office, in its February 2025 report to the Legislature, recommended that Vermont not establish an independent cap-and-invest program and instead monitor the development of the New York Climate Initiative (NYCI) before pursuing participation in a regional scheme.

Coverage

Not Specified

Pricing and Allocation Approaches

Not Specified

Compliance Approaches

Not Specified

Relation to Other Compliance CPIs

Not Specified

Covered Sectors

No eligible activities specified for this instrument.