They hoped new carbon markets would offset Trump. Advocates are glum.

By Anne C. Mulkern | 01/29/2025 06:37 AM EST

Maryland, New York and Vermont were looking to start carbon markets to address climate change. Their efforts face obstacles and delays.

New York Gov. Kathy Hochul (D) is studying a possible state carbon market.

New York Gov. Kathy Hochul (D) is studying a possible state carbon market. Maryland and Vermont also are considering starting their own markets to reduce carbon emissions. Julia Nikhinson/AP

When President Donald Trump won a second term, some climate advocates hoped that states would take the lead on climate change by launching new carbon markets.

It hasn’t worked out that way.

New York Gov. Kathy Hochul (D) this month delayed the state rolling out regulations for a planned carbon market that would affect all sectors of the state economy.

Advertisement

Maryland and Vermont, which are considering launching their own carbon markets, are now conducting studies and facing political difficulties.

GET FULL ACCESS