The Paris Climate Accords were ratified in 2015 and have gained 195 signatories since. Most experts agree that a 2-degree (Celsius) increase in global temperatures would avoid the worst impacts of climate change and that a 4-degree increase would be devastating. But how are we tracking towards those goals? Not well, it turns out. Most countries are on track to miss the 2050 net-zero emissions target. The top 7 emitters account for 50% of all global greenhouse gas (GHG) emissions and none of them meet the most aggressive Paris targets. Three (China, India, and Indonesia) are considered highly insufficient, according to ClimateTracker.org. One (Russia) is listed as critically insufficient. The remaining three (US, European Union, and Brazil) are rated as insufficient.

The clean heat standard (which many have called a carbon tax) was undoubtedly the most controversial law passed during the 2023 legislative session. While its aim is a worthwhile reduction in carbon emissions from home heating, the mechanism employed raises the cost of heating fuels for households still using carbon-based fuels.

The House took up S.5 on Thursday to override the Governor’s veto of the bill.

The House Government Operations Committee returned to S.42 on Thursday. Katie Green (Deputy Chief Investment Officer, Vermont Pension Investment Commission). She shared that the Vermont Pension Investment Commission (VPIC) established an Environmental, Social, and Governmental (ESG) committee. Green noted that climate change is a "significant threat," adding that it's "not just fossil fuel" but also automobile industry, land use, and water quality. She was adamant that VPIC was accountable and transparent, which is why they created the ESG committee to report up to the commission. 

The bill creating the Clean Heat Standard, S.5, made it back to the Senate Floor on Thursday. Senator Bray went through the differences between the House and Senate versions of the bill:

The bill creating a carbon-pricing scheme, known as the Clean Heat Standard (CHS), reached the House floor on Thursday. Representative Sibilia presented the bill on behalf of the Environment & Energy Committee.

She described the bill as having the Public Utility Commission (PUC) develop the marketplace and rules for implementing the CHS. They will provide the 2025 legislature and Governor with the rules to implement the CHS. That is “all we are voting on today,” she claimed. She continued that “a yes vote today will not increase the cost of Vermonter’s fuel or protect the cost. We are not voting on those things today. We are voting on those things in 2025.”

Bill McKibben from Third Act joined the House Government Operations Committee on Wednesday to discuss S.42. He noted divestment started here in Vermont years ago. Third Act was founded by McKibben, who wrote the "original book" about global warming. In LA Times and companies knew, all the way back in the 1980s, about the impact of fossil fuels and "lied about what fossil fuels can do to the environment," he claimed.

On Tuesday, Representative Sibilia gave the Committee the history leading up to the S.5.

• In 2016, Governor Scott joined other states in committing Vermont to meeting goals of the Paris Climate Accords.
• In 2020, Vermont passed Global Warming Solutions Act (GWSA). The GWSA sets the mandates for greenhouse gas reductions, established the Climate Council to come up with the Climate Action Plan (CAP). The Clean Heat Standard (CHS) is the primary thermal sector solution for the CAP.

Sibilia claimed that Vermonters wanted them to act on climate, citing a poll that says 76% support climate action.

Wednesday

The Committee began marking up S.5 on Wednesday. Chairwoman Sheldon asked if cooking was included in the definition of thermal sector and therefore covered under the bill. Legislative Counsel confirmed that it was included and transitioning from gas to thermal induction stoves in restaurants qualifies for credits.

The House Environment & Energy Committee returned to discussion of the Clean Heat Standard (CHS) in S.5 on Friday after taking testimony during the week largely from environmental advocates.