Efficient Environmental Protection
The CAP starts with market-based approaches to reducing air pollution, such as pollution fees or the sale of emission allowances. By putting a price on pollution, these systems encourage producers to find new, low-cost ways to reduce emissions, thus creating greater opportunities for sustainable growth.
Investment in the State Economy
Using revenues from pollution fees or the sale of emission allowances, the CAP provides a dedicated revenue stream to invest in strengthening the state’s economy. Even a modest approach can produce millions of dollars every year that can be invested in new clean energy technologies, and in basic needs such as transportation, education, health care, and other critical services. These non-tax revenues can also help reduce budget deficits.
Broadly Shared Benefits
Like any other transition, moving to a low-carbon economy produces both costs and benefits. While benefits clearly outweigh the costs, we ensure that they are broadly shared by all. To this end, our proposals are explicitly designed to not only prevent low-income and working families from bearing an undue share of the costs, but also ensure that they share equally in the benefits. In this way, we ensure impacted industries and their workers have a path to an economically healthy future.
For a more detailed statement of climate policy principles and applications, download these publications:
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Photo courtesy Reiner Kraft