Investor Presentaiton

Made public by

sourced by PitchSend

36 of 44

Creator

PitchSend logo
PitchSend

Category

Pending

Published

Unknown

Slides

Transcriptions

#1Vermont Transportation Carbon Reduction Strategy PUBLIC MEETINGS AUGUST 2, 2023#2Agenda PUBLIC MEETING-SUMMER 2023 Introductions ☑ Project Overview Gap Analysis Strategy Summary Next Steps " Discussion#3Project Team Andrea Wright, Environmental Policy Manager AOT Project Champion Chris Porter, Cambridge Systematics Consultant Project Manager Ben Eskin, Cambridge Systematics Consultant Deputy Project Manager Hannah Brockhaus, FHI Studio Community Engagement PUBLIC MEETING-SUMMER 2023 Leah Beckett, FHI Studio Community Engagement VERMONT AGENCY OF TRANSPORTATION#4Project Objectives Support Vermont's requirements for GHG emissions reduction Reduce emissions 40% below 1990 levels by 2030 Reduce emissions 80% below 1990 levels by 2050 Transportation sector contributes to 40% of reduction Support U.S. DOT requirements for each State to develop a Carbon Reduction Strategy Describe how new Carbon Reduction Program funding will be used PUBLIC MEETING-SUMMER 2023 VERMONT AGENCY OF TRANSPORTATION#5U.S. DOT Carbon Reduction Program Infrastructure Investment and Jobs Act (IIJA) $32 million $6.3 million annually over 5 years O O O O O Public Transit Transportation Alternatives Congestion Mitigation Efficient Street and Traffic Lighting Travel Demand Management Strategies • Deployment of Alternative Fuel Vehicles and related Infrastructure Carbon Reduction Strategy PUBLIC MEETING SUMMER 2023 VERMONT AGENCY OF TRANSPORTATION#6Strategy Steps Phase 1 Estimate GHG emissions and reductions associated with VTrans' Capital Program • Baseline projection • Construction & maintenance • Transportation system user emissions Phase 2 Develop Carbon Reduction Strategy • Stakeholder and public engagement ● Gap analysis Strategy and scenario development and evaluation • Carbon Reduction Strategy PUBLIC MEETING SUMMER 2023 VERMONT AGENCY OF TRANSPORTATION#7Committees Technical Committee Agency of Transportation Agency of Natural Resources Chittenden County Regional Planning Commission University of Vermont Vermont Climate Council Environmental Action Network Advisory Committee Agency of Transportation Agency of Natural Resources Agency of Commerce and Community Dev. Department of Health Department of Environmental Conservation Chittenden County RPC Mount Ascutney Regional Commission VT Public Transit Association VT Natural Resources Council Federal Highway Administration PUBLIC MEETING-SUMMER 2023 VERMONT AGENCY OF TRANSPORTATION#8Project Timeline I.I Project Initiation I.II Methodology Options I.III Methodology Refinement and Application I.IV Documentation and Training II.I Stakeholder and Public Engagement II.II Gap Analysis II.III Scenario Development Evaluation II. IV Carbon Reduction Strategy 2022 2023 Aug Sept Oct Nov Dec Jan Feb Mar Apr May Jun July Aug Sept Technical Committee Advisory Committee Focus Groups, Public Meeting PUBLIC MEETING SUMMER 2023 VERMONT AGENCY OF TRANSPORTATION#9Public Engagement Two sets of virtual public meetings •Two rounds of focus groups O O 0 о о Community-based organizations, including equity/environmental justice groups Business community Transportation and freight industry Environmental groups Regional planning and public transportation O Elected officials Online survey (Closing August 4th) Virtual Public Meetings NEW DATE August 2, 2023 12:00 PM & 6:00 PM PUBLIC MEETING-SUMMER 2023 VERMONT AGENCY OF TRANSPORTATION#10Gap Analysis PUBLIC MEETING-SUMMER 2023#11Transportation GHG Emissions Baseline Forecast Coordinated with Agency of Natural Resources & Climate Action Plan and sourced Vehicle Miles Traveled Data from the LEAP Model Under the Baseline, assumed adoption of: Advanced Clean Cars II . Advanced Clean Trucks PUBLIC MEETING-SUMMER 2023 VERMONT AGENCY OF TRANSPORTATION#12Gap Analysis Vermont Transportation Emissions (MT CO2e) 4,500,000 4,000,000 3,500,000 3,000,000 2,500,000 2,000,000 1,500,000 1,000,000 500,000 0 1990 2005 2018 2025 2030 2050 Historical / Forecasted Emissions Target Emissions PUBLIC MEETING - SUMMER 2023 ~450,000 MT CO2e ~100,000 MT CO2e VERMONT AGENCY OF TRANSPORTATION#13What We Heard PUBLIC MEETING-SUMMER 2023#14Phase 1 Outreach Bike, Pedestrian, & Transit Strategies Land Use & Tele-Travel Strategies Clean Car/Truck Incentives and Requirements Carbon Management Strategies Traffic and Roadway Strategies 涯 VERMONT AGENCY OF TRANSPORTATION#15What We Heard High support for mode shift strategies, especially village center traffic calming, pedestrian improvements, and expansion of transit throughout the state High support for land use strategies because of their compounding effect on mode shift and co- benefits Fast charging infrastructure is needed to support electric vehicle legislation requirements Favor incentives versus regulations Favor regional approach to policy-making PUBLIC MEETING-SUMMER 2023 VERMONT AGENCY OF TRANSPORTATION#16Strategy Summary PUBLIC MEETING-SUMMER 2023#17Considerations Strategies are modeled at a planning-level of analysis (as opposed to detailed project-level) Effectiveness of strategies, as well as other impacts such as equity implications, will be affected by program design, implementation, and other local contextual factors ➤ Greenhouse gas impact estimates help provide "order-of-magnitude" range, but subject to various uncertainties ➤Will provide opportunity for questions after all strategies are presented PUBLIC MEETING-SUMMER 2023 VERMONT AGENCY OF TRANSPORTATION#18Bicycle and Pedestrian Network Buildout of proposed Bicycle Facilities from Chittenden County Active Transportation Plan - roughly doubles the amount of bicycle infrastructure in the county + additional bicycle facility buildout statewide 150 directional miles of new bicycle lanes and shared use paths and 150 directional miles of widened shoulders to facilitate bicycle travel in rural areas Increased sidewalk coverage across the state Half of buildout completed by 2030 osons int Hero Hotte Bur Walnut Ledge North Ferrisburg Buters Comers Essex ction South Burlington Tafts orner Prindle Corners Mechanicsvine Hinesburg Fairfax Rich Jone Browns! Camp han Alle ACTIVE TRANSPORTATION PLAN UPDATE CHITTENDEN COUNTY Lincoln Hill Huntington enter DECEMBER 2022 2150 PUBLIC MEETING-SUMMER 2023 VERMONT AGENCY OF TRANSPORTATION#19Transit: Service Expansion Green Mountain Transit Bus Service: Increase from 20 to 15-minute frequencies (30% VRM increase) Rural Fixed-Route Bus Service: expansion to include weekend service (34% VRM increase) Goal to implement additional service before 2030 MALAYAN Sherp Kitchen OPEN CUISINE PUBLIC MEETING-SUMMER 2023 11 COLLEGE STREET 956 hpp עליי cheting VERMONT AGENCY OF TRANSPORTATION#20Micromobility State subsidies for e-bike purchase Over $1 million annual fund dedicated to incentivize e-bike adoption Program would subsidize 50% of the purchase price of a standard e-bike, and could cover up to 1,500 bikes per year Micromobility refers to the emerging group of small, low-speed vehicles such as e-bikes and e-scooters which offer transportation alternatives in various settings PUBLIC MEETING - SUMMER 2023 VERMONT AGENCY OF TRANSPORTATION#21Land Use Concentrate future population growth in lower VMT-per capita regions Modeled effects of turnover of existing housing stock (~4% each decade or ~1,300 housing units per year), where newer housing exhibits lower VMT (through density and/or mixed-use policy) O ** PUBLIC MEETING-SUMMER 2023 VERMONT AGENCY OF TRANSPORTATION#22Broadband Expansion Completion of the VT Rural Broadband Expansion by 2030 The delivery of fast and reliable internet to rural areas may help expand telework feasibility for select professions, as well as teletravel for non-work purposes (school, health, etc.) PUBLIC MEETING-SUMMER 2023 6 VERMONT AGENCY OF TRANSPORTATION#23Travel Demand Management Expand funding for Vermont's travel demand management program "GO! Vermont" which helps facilitate travel in non-SOV (single occupancy vehicle) modes g! VERMONT PUBLIC MEETING-SUMMER 2023 VERMONT AGENCY OF TRANSPORTATION#24Transit: Vehicle Electrification Electrification of all registered transit agencies in the state of Vermont - reaching 100 percent electrification by 2050 PUBLIC MEETING-SUMMER 2023 ABB AND CONNECT 1 1005 CONNECT Did MCTS CONNECT CLEAN ENERGY CLEAN AIR. VERMONT AGENCY OF TRANSPORTATION#25Results Check-In Emissions reductions associated with investment and incentive strategies close less than 5% of the gap by 2030 Strategy TDM Bicycle and Pedestrian Network CO2 Emission (2030 metric tons) Percent of Gap Closed (2030) 90 0.0% 260 0.1% Transit: Service Expansion 670 0.1% Micromobility 1,600 0.4% Transit: Vehicle Electrification 3,900 0.9% Telework 6,100 1.3% Land Use 6,500 1.4% Total 19,100 4.2% 2030 Gap 450,000 PUBLIC MEETING - SUMMER 2023 VERMONT AGENCY OF TRANSPORTATION#26Additional Standards and Policies Modeled investments and incentives are insufficient to close the gap in emissions between project emissions and Vermont transportation emissions target Look to other standards and policies to work towards meeting state climate requirements Advanced Clean Fleets rule Feebates Clean Transportation Standard Regional cap-and-invest program PUBLIC MEETING-SUMMER 2023 VERMONT AGENCY OF TRANSPORTATION#27Advanced Clean Fleets Medium and heavy-duty zero- emissions fleet regulation which accelerates the adoption of zero- emission trucks Includes updates to Advanced Clean Trucks to deliver even more EV Trucks to consumers TOYOTA EMISSIONS ZERO PUBLIC MEETING-SUMMER 2023 EMISSIONS ZERO Emissions Delivery ELECTRIC VERMONT AGENCY OF TRANSPORTATION#28Feebates Incentive policy that encourages the adoption of more fuel-efficient vehicles Vehicles with lower fuel efficiency receive. a surcharge Vehicles with higher fuel efficiency receive a rebate Policy can be designed to be revenue neutral Feebate System $$$ PUBLIC MEETING-SUMMER 2023 VERMONT AGENCY OF TRANSPORTATION#29Results Check-In Strategy TDM Bicycle and Pedestrian Network Transit: Service Expansion Micromobility Transit: Vehicle Electrification Telework Land Use Feebates Advanced Clean Fleets Total 2030 Gap CO2 Reduction (2030 tonnes) Percent of Gap Closed (2030) 90 0.0% 260 0.1% 670 0.1% 1,600 0.4% 3,900 0.9% 6,100 1.3% 6,500 1.4% 19,800 4.4% 34,600 7.7% 73,400 16.3% 450,000 PUBLIC MEETING - SUMMER 2023 VERMONT AGENCY OF TRANSPORTATION#30Clean Transportation Standard Market-based policy that is designed to decrease the carbon intensity (CI) of transportation fuels Considers Cl from a lifecycle perspective Active programs in CA, OR, WA, BC Reduce CI 20% by 2030 - 2034 6 PUBLIC MEETING-SUMMER 2023 VERMONT AGENCY OF TRANSPORTATION#31Cap-and-Invest Cap-and-invest program would aim to establish an emissions "cap" - the state would raise revenue from the auction of emissions "allowances" and reinvest revenue towards carbon reduction strategies Active programs in CA, WA, Quebec Program undergoing adoption in NY Key questions and considerations: Transportation-sector only or economy-wide? Partner with neighboring states to create a regional program? Design program in way that mitigates burdens to disadvantaged populations. PUBLIC MEETING-SUMMER 2023 VERMONT AGENCY OF TRANSPORTATION#32Co-benefit cost-effectiveness Strategy Air Quality Mobility Health TDM ++ +++ ++ Bicycle and Pedestrian Network ++ +++ +++ Transit: Service Expansion +++ Micromobility ++ +- ++ Transit: Vehicle Electrification +++ ++ Telework +++ Land Use ++ +++ Advanced Clean Fleets +++ ++ Feebates Clean Transportation Standard +++ Cap-and-Invest +++ +++ +++ PUBLIC MEETING - SUMMER 2023 VERMONT AGENCY OF TRANSPORTATION#33Draft Recommendations PUBLIC MEETING-SUMMER 2023#34Strategy Recommendations (1) Expand transportation capital program investment and services as described in the draft analysis, as feasible consistent with available funding ➤ Bicycle and pedestrian facility expansion & improvements statewide Transit service expansion (frequency, hours, coverage) E-bike subsidies Expanded funding for GO! Vermont Transit vehicle electrification PUBLIC MEETING-SUMMER 2023 VERMONT AGENCY OF TRANSPORTATION#35Strategy Recommendations (2) Expand programs and incentives to encourage compact land use and teletravel ➤ Downtown and Village Center tax credits & sales tax reallocations Smart Growth zoning incentives and technical support Completion of the VT Rural Broadband Expansion by 2030 PUBLIC MEETING-SUMMER 2023 VERMONT AGENCY OF TRANSPORTATION#36Strategy Recommendations. (3) Support maximum conversion of Vermont's vehicle fleet to zero- emission vehicles a. Build out public charging infrastructure network to serve entire state, in a timeframe to support anticipated EV market penetration b. Leverage existing federal and state funding and new funding to provide incentives for electric cars and trucks and private charging infrastructure PUBLIC MEETING-SUMMER 2023 VERMONT AGENCY OF TRANSPORTATION#37Strategy Recommendations (4) ➤ Undertake a process with public and stakeholder involvement to further evaluate the feasibility to develop and implement additional programs that could further close the remaining gap between projected and required emissions levels while also potentially providing a funding source for additional investments as described in other strategies and ensuring equitable outcomes that benefit all Vermonters Advanced Clean Fleets regulation to further accelerate zero-emission trucks Vehicle feebate program to encourage purchase of more fuel-efficient and zero- emission vehicles Clean Transportation Standard for fuels - Cap-and-invest program – a multi-sector program linked or coordinated with other state programs PUBLIC MEETING - SUMMER 2023 VERMONT AGENCY OF TRANSPORTATION#38Implementation Responsibilities Transportation investments & services Land use & teletravel Zero-emission vehicles Additional programs Agency of Transportation Other State Agencies Legislature & Governor Municipalities & RPCs PUBLIC MEETING-SUMMER 2023 VERMONT AGENCY OF TRANSPORTATION#39Let's hear from you! 7 PUBLIC MEETING - JULY 2023 VERMONT AGENCY OF TRANSPORTATION#40Question and Answer PUBLIC MEETING-SUMMER 2023 VERMONT AGENCY OF TRANSPORTATION#41Thank You! ONLINE SURVEY - LIVE UNTIL AUGUST 4 https://vtrans.vermont.gov/form/carbon-reduction-strategy Contact: Andrea Wright Vermont Agency of Transportation PUBLIC MEETING-SUMMER 2023 VERMONT AGENCY OF TRANSPORTATION

Download to PowerPoint

Download presentation as an editable powerpoint.

Related

Q4 & FY22 - Investor Presentation image

Q4 & FY22 - Investor Presentation

Financial Services

FY23 Results - Investor Presentation image

FY23 Results - Investor Presentation

Financial Services

Ferocious - Plant Growth Optimizer image

Ferocious - Plant Growth Optimizer

Agriculture

Market Outlook and Operational Insights image

Market Outlook and Operational Insights

Metals and Mining

2023 Investor Presentation image

2023 Investor Presentation

Financial

Leveraging EdTech Across 3 Verticals image

Leveraging EdTech Across 3 Verticals

Technology

Axis 2.0 Digital Banking image

Axis 2.0 Digital Banking

Sustainability & Digital Solutions

Capital One’s acquisition of Discover image

Capital One’s acquisition of Discover

Mergers and Acquisitions