In an effort to cut transportation emissions, five states and the District of Columbia have agreed to develop market-based policies to reduce pollution — and such policies could cut carbon pollution between 29 percent and 40 percent in this region, according to a new report by the Georgetown Climate Center.
The report was released in conjunction with the announcement from Connecticut, Delaware, the District of Columbia, New York, Rhode Island and Vermont. The six jurisdictions will work together on the new transportation-sector emissions policies through the Transportation and Climate Initiative (TCI).
The Georgetown Climate Center report found that existing federal and state policies are projected to cut greenhouse gas emissions 29 percent by 2030 in the region from 2011 levels. Additional strategies analyzed in the report could further those reductions, achieving total cuts of 31 to 40 percent by 2030 while also resulting in significant public health improvements.
An economic analysis found that a comprehensive implementation of clean transportation policies by TCI states could bring net cost savings of $32.3 billion to $72.5 billion over 15 years to the region’s businesses and consumers.
The report, Reducing Greenhouse Gas Emissions from transportation: Opportunities in the Northeast and Mid-Atlantic, analyzes policies and resulting benefits and costs for the 11 northeast and mid-Atlantic states and the District of Columbia that participate in the TCI.
According to a report from the US Energy Information Administration, the largest absolute increase in 2014 energy-related CO2 emissions was from the transportation sector, largely due to low gasoline prices.