Vermont proposed the creation of a Common Assets Trust (VCAT) in 2007, 2011 and 2012 which mandated state protection of common assets (such as air and water) for present and future generations, while establishing rules in which certain users (predominantly large industries) were charged fees, deposited into a common assets trust fund, which would be managed to protect those assets and serve the interest of present and future generations. In this way, rules are created and mandated for common stewardship, while also encouraging inter and intra-generational equity. Such a policy also has distributive impacts, as funds can be used for government spending and dividend payments to citizens, especially those on the lower end of the socio-economic spectrum.
This case study features in the WEAll Briefing paper “Water in a Wellbeing Economy” – find out more and read the whole paper here.
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