Yesterday, draft language for the long-awaited Clean Energy Jobs Bill was released. If passed, the legislation would create a Cap-and-Invest program that would place an economy-wide limit on greenhouse gas emissions, create a market-based program to drive least-cost emission reductions and invest the program’s proceeds into climate change mitigation projects, including clean energy projects such as wind and solar power, electric vehicles and public transit, and carbon sequestration in Oregon’s working and natural lands. Successful legislation would ensure Oregon’s Cap-and-Invest program can connect with the Western Climate Initiative’s (WCI) regional Cap-and-Trade market.
Following is a statement by E2 Western States advocate Andy Wunder:
“A smart Cap-and-Invest program creates enormous opportunity to accelerate Oregon’s clean energy economy in 2019 and ensure the right market signals are in place to drive investment and job growth in the state for years to come. The benefits of a program extend beyond cleantech businesses — Oregon’s farmers, foresters and ranchers will also be able to benefit from investment driven by a Cap-and-Invest program.