Yes. California and Quebec are part of the Western Climate Initiative, which uses a market-based cap-and-invest program to reduce carbon emissions from transportation, electricity, and other sectors.
The Northeast and Mid-Atlantic region has a similar multi-state program for the electric sector. Since 2009, the Regional Greenhouse Gas Initiative (RGGI) has helped clean up the region’s power sector, reducing harmful emissions while driving the economy forward. RGGI has helped cut emissions from power plants in half, while creating thousands of new jobs, boosting clean energy investment, growing the economy, and lowering customers’ utility bills.
By building on the best aspects of the RGGI program, states can develop a transportation-sector cap-and-invest program that delivers equitable outcomes in communities that need it the most, improves transportation options and cleans up the air. It’s noteworthy that vehicle emissions are now the largest source of carbon pollution, a key driver of climate change.
The RGGI model can be a guide for tackling the region’s outdated, dirty and inequitable transportation system. It is estimated that developing a cleaner, safer and modern transportation system in the Northeast and Mid-Atlantic region, could cut transportation climate pollution 40 percent, create more than 100,000 new jobs and put $14.4 billion in families’ pockets – all by 2030.