Carbon Pricing Policy in Oregon
Overview: As a statewide organization focused on mobilizing industry support and business leadership toward advancing climate policy and instituting a price on carbon emissions while strengthening Oregon’s economy, the Alliance supports passing cap-and-invest legislation in 2018.
In November 2017, the Alliance Board of Directors adopted the following Statement of Support.
What Is Cap-and-Invest?
Cap-and-invest is a market based system that first originated in addressing acid rain under the Clean Air Act in 1990. An Economy-wide cap on emissions sources that offers a flexible mechanism at the lowest cost for reducing GHG emissions.
Oregon Senate Bill 1070 is a carbon pricing proposal that would create a cap-and-invest system linking Oregon to California’s current system, which is also connected to Quebec and British Columbia. Cap-and-invest would limit the amount of carbon dioxide emissions on about 100 Oregon companies (that emit at least 25,000 tons of CO2 per year) throughout the state.
Regulated businesses would be required to buy market-priced allowances for any additional emissions and thus encouraged to reduce their carbon footprint. Proceeds from a competitive auction of allowances could yield an estimated $700 million per year.
The proceeds from pricing carbon would be invested in the clean energy economy, including rural communities and transportation.
Currently, 9 states in the Northeast U.S. (Regional Greenhouse Gas Initiative) and California have cap-and-invest policies in place.
Go to our Resources Page for additional links and information HERE
“Let’s seed new industries that can counter climate change. Let’s develop new technologies that can help Oregon’s economy.”
--Alliance Board Member Alan Sprott, Vigor Industrial
Portland Business Journal