10 States Complete Review of Regional Greenhouse Gas Initiative
Findings show a highly successful carbon cap-and-invest program.
WASHINGTON, D.C. — Ten current Regional Greenhouse Gas Initiative (RGGI) states have completed their Program Review and announced the next phase of the program through 2037, which includes a power plant carbon emissions reduction trajectory to keep states in the region moving toward their climate goals.
The following is reaction from Jackson Morris, director of state power sector policy at NRDC (Natural Resources Defense Council):
“RGGI is the most consequential climate policy the region has ever seen. At a time when the federal government is taking us backward on key environmental policies, RGGI states are forging ahead to create a vibrant clean energy economy—and the jobs, bill savings, and public health benefits this program has delivered for over 17 years.
“Now is the time for states to lead on clean energy and climate, and, with RGGI, states are doing just that thanks to critical investment opportunities to grow high-quality in-state jobs while protecting peoples’ pocketbooks.”
Background:
RGGI is a cap-and-invest program that, since 2009, has generated local and regional economic benefits, including investments in local businesses that provide jobs for residents; weatherization of homes; upgrades of heating and air-conditioning systems; and clean, renewable energy.
Together, RGGI states set an enforceable regional limit on the amount of carbon pollution that power plants are allowed to emit and sell pollution permits up to this limit through quarterly auctions. RGGI’s design requires large fossil fuel power plants to buy the pollution permits, and the number of permits is lowered each year, so that the region’s power plants contribute progressively fewer greenhouse gas emissions.
RGGI’s success shows how flexible, market-based approaches to cutting power plant pollution can benefit everyone. Current RGGI states consist of: Maine, New Hampshire, Vermont, Massachusetts, Connecticut, Rhode Island, New York, New Jersey, Delaware, and Maryland.
NRDC (Natural Resources Defense Council) is an international nonprofit environmental organization with more than 3 million members and online activists. Established in 1970, NRDC uses science, policy, law, and people power to confront the climate crisis, protect public health, and safeguard nature. NRDC has offices in New York City, Washington, D.C., Los Angeles, San Francisco, Chicago, Bozeman, MT, Beijing and Delhi (an office of NRDC India Pvt. Ltd). Visit us at www.nrdc.org and follow us on Twitter @NRDC.