Or. Admin. Code § 340-271-0900

Current through Register Vol. 63, No. 11, November 1, 2024

Section 340-271-0900 - Purposes of Community Climate Investments and Eligible Uses of CCI Funds

(1) The purposes of community climate investments are to:

(a) Provide covered entities with an optional means of meeting part of their compliance obligation for one or more compliance periods;

(b) Reduce anthropogenic greenhouse gas emissions in Oregon by an average of at least one MT CO2e per CCI credit distributed by DEQ;

(c) Reduce emissions of other air contaminants that are not greenhouse gases, particularly in or near environmental justice communities in Oregon;

(d) Promote public health, environmental, and economic benefits for environmental justice communities throughout Oregon to mitigate impacts from climate change, air contamination, energy costs, or any combination of these; and

(e) Accelerate the transition of residential, commercial, industrial and transportation-related uses of fossil fuels in or near environmental justice communities in Oregon to zero or to other lower greenhouse gas emissions sources of energy in order to protect people, communities and businesses from increases in the prices of fossil fuels.

(2) A CCI entity may use CCI funds only for:

(a) Implementing eligible projects in Oregon, which are actions that reduce anthropogenic greenhouse gas emissions that would otherwise occur in Oregon. Eligible projects include, without limitation, actions that reduce emissions in Oregon resulting from:

(A) Transportation of people, freight, or both;

(B) An existing or new residential use or structure;

(C) An existing or new industrial process or structure; and

(D) An existing or new commercial use or structure.

(b) The costs of administering CCI funds and eligible projects, including costs of reporting and other requirements included in OAR 340-271-0930 and costs of capacity-building for implementation of eligible projects.

Or. Admin. Code § 340-271-0900

DEQ 27-2021, adopt filed 12/16/2021, effective 12/16/2021

Statutory/Other Authority: ORS 468.020, 468A.025 & 468A.040

Statutes/Other Implemented: ORS 468.020, 468A.025, 468A.040, 468.035, 468A.010, 468A.015 & 468A.045