August 23, 2017
Governors of nine Northeastern and Mid-Atlantic states announced a proposal today to cut carbon emissions from power plants by an additional 30 percent through an updated cap-and-trade program. The Regional Greenhouse Gas Initiative (RGGI), the first market-based regulatory program to reduce heat-trapping emissions, established a cap on the issuing and auctioning of tradeable allowances for carbon dioxide. Connecticut, Delaware, Maine, Maryland, Massachusetts, New Hampshire, New York, Rhode Island and Vermont participate in the program.
E&E News reported that the updated plan would add downward cap adjustments to account for extra emission allowances and establish new tools to soak up extra allowances that aren't sold. The move could reduce emissions by over 132 million tons by 2030. The proposed updates will go through a series of notices and comment periods before they are finalized.
Vicki Arroyo, executive director of the Georgetown Climate Center, said the proposal demonstrates continuing state leadership on climate change and clean energy. "Today's announcement demonstrates that despite federal rollbacks, we can expect states and communities to pursue more smart investments, more energy efficiency, more renewable energy, and more clean energy job opportunities," Arroyo said.
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