INDIANAPOLIS – On Monday, Senate Bill (SB) 373 was approved by the Senate with a vote of 33-16. This bill would give Hoosier private businesses and land owners an opportunity to voluntarily participate in an Indiana carbon market generating home grown carbon offsets. State Senator Shelli Yoder (D-Bloomington) gave the following statement of support for SB 373:

“For a variety of reasons, many businesses wish to reduce their carbon footprint by reducing their carbon emissions by purchasing carbon offsets generated by projects that sequester carbon. This includes manufacturers, logistics companies, large online retailers and tech companies.

“This is a win-win-win for Hoosiers,” said Sen. Yoder. “At present, any Indiana company that wants to buy carbon offsets must buy offsets produced elsewhere in the U.S. or in a foreign country. Passage of SB 373 would lead to new carbon offsets being generated right here in Indiana that would allow Indiana purchasers to buy Indiana offsets, keeping this revenue and environmental gains in-state.”

The bill now moves to the House for deliberation.