TCI sets a cap on carbon emissions for fossil fuel wholesalers in the region, and gradually lowers that cap overtime. Polluters purchase emissions allowances through an auction, and the proceeds are then invested in projects to reduce transportation emissions and improve transportation infrastructure throughout Connecticut. Attaching a price to carbon makes polluters pay for the harm they've caused while encouraging big businesses to compete to reduce their carbon emissions. This program is critical to help Connecticut meet its emissions goal of 45% below 2001 levels of GHG emissions by 2030.
The auction allowances would allow for $2.7 billion to be re-invested in clean transportation options by 2030. TCI will create over 23,000 jobs in CT, equating to $2.2 billion in wages and $7 billion in new business sales (Acadia Center).