HARTFORD, Conn. – Today, Acadia Center released an analysis illustrating the benefits of a new approach for Connecticut to reduce transportation pollution while improving the system to better meet its residents’ needs. The analysis shows that, if designed well, a regional cap-and-invest policy developed through the Transportation & Climate Initiative (TCI) could enable the state to make over $2.7 billion in crucial transportation investments by 2030, which would generate over 23,000 long-term jobs and $7 billion in economic activity.
“Connecticut can be a leader in developing a bold, equitable program to invest in needed transportation modernization while capping pollution in the state,” said Amy McLean Salls, Connecticut Director and Senior Policy Advocate at Acadia Center. “By capping transportation emissions and auctioning pollution allowances, all residents in the state will benefit through investments in transportation infrastructure and improved mobility options. The state’s overburdened and underserved communities are disproportionately bearing the brunt of non-accessible transportation options and harmful impacts of local air pollution. A modernized clean transportation system would be transformative for Connecticut’s people and economy.”
Acadia Center’s analysis demonstrates that new transportation investments funded through a regional cap-and-invest program would deliver substantial economic, environmental, and mobility benefits in Connecticut. As Connecticut works with other states to develop this program, advocates, community groups and other stakeholders are joining forces to determine what that program – and Connecticut’s transportation future – should look like.
On Tuesday evening, Acadia Center, the Center for Latino Progress, the CT Roundtable for Climate and Jobs, Sierra Club and Transport Hartford Academy gathered, joined by 55 stakeholders including transportation and environmental advocates, environmental justice activists, health professionals, business leaders, Commissioner Dykes from the Department of Energy and Environmental Protection and Tom Maziarz from the Department of Transportation, for an important Connecticut-focused meeting to discuss efforts to deliver a more equitable, modern low-carbon transportation future.
“It is far past time for the State of Connecticut to act. As we act to quickly reduce greenhouse gas emissions and pollutants, we have the opportunity to invest in our communities, quality of life, and local employment,” said Gannon Long, Assistant Coordinator for Transport Hartford Academy at the Center for Latino Progress. “A transportation focused cap-and-trade system, implemented in 2021, could be a useful tool in achieving the state’s critically important emission reduction targets.”
To estimate the economic opportunity for a market-based transportation climate policy, Acadia Center’s report examined a sample investment portfolio including bus fleet electrification and transit system improvements, commuter rail updates and expansion, electric vehicle rebates and charging infrastructure, and walking and biking infrastructure. To determine how funds from this type of program are ultimately invested, participating states will need to develop a process that includes input from the most impacted parties, in particular low-income and disadvantaged communities.
“Cap-and-invest programs do not operate in a vacuum – they work best when they are designed to complement other policies and accelerate the transition to less-polluting options,” said Jordan Stutt, Carbon Programs Director at Acadia Center. “This analysis illustrates how cap-and-invest proceeds could bolster Connecticut’s existing efforts to deliver modern, accessible, low-carbon transportation options while spurring local job creation.”
Read the full report here: https://acadiacenter.org/document/investing-in-connecticuts-transportation-future/