The State of Vermont is interested in obtaining bids to provide “an assessment of the cost to the State of Vermont and its residents of covered greenhouse gas emissions,” as set forth in 10 V.S.A. § 599c and as amended by Act 47 of 2025, together with related professional services. “Covered greenhouse gas emissions” means “the total quantity of greenhouse gases released into the atmosphere expressed in metric tons of carbon dioxide equivalent, resulting from the use of fossil fuels extracted or refined by an entity during the covered period,” which is the period that began on January 1, 1995 and ended on December 31, 2024. The assessment shall include such further information as the State shall request, but shall include at a minimum: (1) a summary of the various cost-driving effects of covered greenhouse gas emissions on the State of Vermont, including effects on public health, natural resources, biodiversity, agriculture, economic development, flood preparedness and safety, housing, and any other effect that the State Treasurer, in consultation with the Agency of Natural Resources, determines is relevant; (2) a categorized calculation of the costs that have been incurred and are projected to be incurred in the future within the State of Vermont of each of the effects identified under subdivision (1) of 10 V.S.A. § 599c; and (3) a categorized calculation of the costs that have been incurred and are projected to be incurred in the future within the State of Vermont to abate the effects of covered greenhouse gas emissions on the State of Vermont and its residents. To inform the development of the assessment, the Contractor shall provide the following to the State Treasurer on the following schedule, unless the Parties agree otherwise in writing: 1. A list of the cost driving effects of climate change, including those listed in 10 V.S.A. § 599c(1) and those identified in consultation with the State. The list should identify associated datasets or other information available to support quantification and summaries of the cost driving effects. Due Date: November 14, 2025 2. Recommended approach(es) to determine the costs and damages that have been incurred and are projected to be incurred in the future in Vermont based on the identified cost driving effects, including evaluation of potential methodology(ies) and reasons for choosing the recommended approach(es). Due Date: December 12, 2025 3. Recommended approach(es) to determine the costs that have been incurred and are projected to be incurred in the future to adapt to the impacts of climate change, including evaluation of potential methodology(ies) and reasons for choosing the recommended approach(es). Due Date: January 16, 2025 4. A series of drafts of the cost assessment that include the summary of cost-driving effects; overall cost, inclusive of the summation of past and projected damages; and past and projected adaptation costs, including specific identification of the costs for climate change adaptation projects as defined in 10 V.S.A. § 596(2) and included in Vermont’s Resilience Implementation Strategy, State Hazard Mitigation Plan, or Community Resilience and Disaster Mitigation Grant Program. See 10 V.S.A. §§ 596(23), 599(b), 599a(b)(3)). The State will provide timely feedback on each Draft. • March 14, 2026 First Draft • May 16, 2026 Second Draft • September 5, 2026 Third Draft • October 23, 2026 Proposed Final Draft • December 18, 2026 Final Draft presented to State This assessment shall be suitable for presentation to the Vermont Legislature on January 15, 2027. The contractor shall provide written updates on progress to the State upon demand, but no less than weekly, and shall be available to discuss the work upon demand. It is anticipated that the State will work closely with the Contractor to ensure the assessment’s accuracy and completeness, and to provide relevant data inputs. Changes to the schedule of work may be made by written agreement.
