Latest – RGGI Project Series

Find the latest in the series projects and news.

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Projects

 

State Carbon Trading Workshop, September 6th

State officials and carbon trading experts gathered on September 6, 2018 in Washington, DC with advocates, government leaders and representatives from utilities, clean tech, academia [and media] for a dynamic workshop and webinar on the “Nuts & Bolts” of carbon trading and linking state programs.

 
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Supported by the RGGI Project Series, and co-hosted by Duke University’s Nicholas Institute for Environmental Policy Solutions, Georgetown Climate Center and Resources for the Future, the workshop featured three expert panels ranging from “basics” on the RGGI carbon trading program to the “why & how” Virginia and New Jersey plan to link with or join RGGI, and finally public & private sector perspectives on the “building blocks” for successful linking between states.

The workshop/webinar was well attended by almost 270 diverse participants in-person and online, [with enthusiastic exchanges between panelists and with the audience]. The event provided a content-rich learning opportunity for other states that may want to link or implement a separate carbon trading program

The video event and links to the program are on posted the Duke Nicholas and Resources for the Future websites, and are available below:

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News Coverage:

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New Jersey, Virginia Move to Join Regional Carbon Trading in 2020

Sept. 6, 2018

New Jersey and Virginia are on track to join the Northeast’s carbon trading program in 2020, with final rules expected to be released later this year and adopted in 2019.

Both states are in discussions with the Regional Greenhouse Gas Initiative on the details of linking up with the nine-state cap-and-trade program, state environmental regulators said Sept. 6 at a conference.

Read more (Note: Bloomberg subscription required)


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New Jersey, Virginia close to completing RGGI regulations, as emissions cap negotiations come to a head

Sept. 6, 2018

New Jersey and Virginia have nearly finished establishing their respective carbon trading regulations, but those rules remain contingent on final negotiations with RGGI over the two states’ emissions cap levels, officials said Thursday.

Read more (Note: Carbon Pulse subscription required)

Agenda:

10 a.m.Welcome and Introduction

  • Karen Palmer, Resources for the Future

  • Laurie Burt, RGGI Project Series

  • Video here

10:10 a.m.State Carbon Trading: the RGGI Example

10:20 a.m.—Panel 1: Linking in Action: Virginia, New Jersey, and RGGI

  • Moderator: Vicki Arroyo, Georgetown Climate Center

  • Ben Grumbles, Maryland Department of Environment and RGGI, Inc.

  • Chris Bast, Virginia Department of Environmental Quality

  • Debbie Mans, New Jersey Department of Environmental Protection

  • Video here

11:15 a.m.Panel 2: The Building Blocks for Successful Linking 

  • Moderator: Kate Konschnik, Duke's Nicholas Institute for Environmental Policy Solutions

  • Carrie Jenks, MJ Bradley & Associates

  • Valerie Gray, Delaware Department of Natural Resources & Environmental Control

  • Kathleen Robertson, Exelon

  • Dale Bryk, Natural Resources Defense Council

  • Video here

12:10 p.m.—Closing Remarks

  • Kate Konschnik, Duke's Nicholas Institute for Environmental Policy Solutions

  • Video here

12:15 p.m.—Adjourn and Lunch Available

 

 Latest News

 
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The Northeast US has a carbon-trading system. It is boosting, not hurting, state economies.

April 25, 2018

When climate hawks fantasize about climate policy, they tend to imagine a sweeping, economy-wide carbon tax, set at a high and rising rate. But as a political strategy, this hasn’t much worked; political restraints have meant that no such tax has emerged in the real world.

Read full story


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State benefits from cut to carbon emissions

April 22, 2018

Despite President Donald Trump’s resistance to climate control measures, Connecticut and nine other regional states are reaping huge economic rewards from cutting carbon emissions.

A new report on the nation’s first Regional Greenhouse Gas Initiative shows participating states realized $1.4 billion in economic value between 2015 and 2017, and the RGGI created more than 14,500 new jobs.

Read full story


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Carbon Markets Pay Off for These States as New Businesses, Jobs Spring Up

April 17, 2018

Nine years after its launch, the nation's first mandatory carbon-trading program is still boosting the economy and creating jobs while continuing to cut power plant emissions in its nine-state region, a new report shows.

The Regional Greenhouse Gas Initiative, or RGGI, wasn't designed for economic development, but that's been an important outcome, the Analysis Group, an economic research firm, reported Tuesday.

Read full story


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Study: Regional Greenhouse Gas Initiative Still Boosting Northeast Economies

April 17, 2018

A new report says the Regional Greenhouse Gas Initiative has put $4 billion into Northeast economies since 2009.

The three-year study by the Analysis Group says those benefits have continued even as the program known as RGGI grew more ambitious.

Read full story


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Program that aims to reduce power plant emissions has spurred $4 billion in economic activity, study finds

April 17, 2018

The Regional Greenhouse Gas Initiative, a multi-state power plant emissions-capping program that includes Maryland, has generated $4 billion in net economic activity, even accounting for the costs it has added to the price of electricity, a study released Tuesday found.

Under the program, power plants must bid and pay to be allowed to exceed caps on emissions of the greenhouse gases that scientists say are responsible for global climate change.

Read full story
 


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Economy Gains, But Plant Profits Fall From Carbon Trading: Report

Apr 16, 2018

The Northeast’s cap-and-trade program generated $1.4 billion in net economic benefits over the past three years for nine states, even though electric power plants in the region took a $350 million hit to their revenues, according to a report released April 17.

Read full story


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U.S. Northeast carbon market creating jobs, revenue: study

Apr 16, 2018

Nine states in the U.S. Northeast have slashed greenhouse gas pollution, created thousands of jobs in clean energy, and cut consumer power costs using a market-based scheme to slash carbon emissions, according to a study released on Tuesday. 

Read full story


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Putting A Price On Carbon Can Spur Economy And Lower Energy Costs, New Study Says

Jul 14, 2015

Last year at this time, I wrote on why lowering CO2 emissions will drive electricity bills down, not up. Now, a new study from Boston consultancy Analysis Group shows that controlling and lowering CO2 emissions translates into a major economic development and jobs program with continued system reliability. The report represents another blow to the fear-mongering platform whose adherents insist that the EPA’s Clean Power Plan for reducing carbon emissions will bring job losses, economic ruin, and unreliability to the American power grid.

Read full story


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Study: Capping power plant pollution aids economy in Md., other Northeastern states

Jul 14, 2015

Cranking down on climate-altering emissions from power plants has been a net economic boon for Maryland and eight other Northeastern and mid-Atlantic states participating in the effort, according to a new report.

Over the past three years, the Regional Greenhouse Gas Initiative has added $1.3 billion to the economies of the nine states and yielded more than 14,000 new jobs, says the Analysis Group, an economic consulting firm, in a report presented at a utility regulators conference in New York. Meanwhile, consumers saved $460 million overall in lower electricity and heating bills, the report notes.

Read full story


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Cutting carbon emissions brings economic impact to RGGI region

Jul 14, 2015

States participating in the Regional Greenhouse Gas Initiative (RGGI) have seen economic benefits in regulating carbon emissions through market-based mechanisms.
 
A new report from the Analysis Group says RGGI is one option states can use under the U.S. Environmental Protection Agency (EPA)’s Clean Power Plan to limit power plant carbon emissions across the country. The report, “The Economic Impacts of the Regional Greenhouse Gas Initiative on Nine northeast and Mid-Atlantic States,” found that implementing RGGI from 2012-2014 adds $1.3 billion in economic value to the nine states in the RGGI region, created more than 14,000 new jobs and saved consumers $460 million.

Read full story