An act relating to a regenerative economy
The bill is expected to reshape how Vermont approaches economic development by prioritizing ecological restoration, community resilience, and local control over economic decisions. It plans for all state investments to align with the goals of the Regenerative Economy Roadmap, creating a cohesive strategy for achieving long-term sustainability. The approach encourages collaboration between state agencies and local communities, fostering a sense of ownership and accountability in shaping economic policies that directly affect residents’ lives.
H0435 aims to transform Vermont into a regenerative economy by the year 2046, with a significant focus on repairing and restoring both natural and human resources. The bill outlines a comprehensive approach towards achieving a 90% regenerative economy, emphasizing local community involvement through the establishment of People’s Assemblies in 11 designated regions. These assemblies are intended to engage local residents in the planning process, ensuring that diverse voices contribute to the development of sustainable practices, social equity, and environmental restoration.
Notably, while the bill has garnered support from environmental advocates and local communities, it may face challenges stemming from skepticism about the feasibility of fully transitioning to a regenerative economy. Critics could argue about the potential economic implications for businesses accustomed to conventional practices, as well as the bill's ambitious targets. The focus on social equity and environmental justice is also a point of contention, as stakeholders may have differing views on how to balance these priorities with economic growth and development.