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For information on New Jersey's withdrawal from RGGI,
* CLF applauded the New England states for supporting and strengthening RGGI, the Northeast regional cap-and-trade system, as an important tool in their toolkits for reducing greenhouse gas emissions and advancing a clean energy economy.
While RGGI's impact has been good for the environment, helping to lower our collective greenhouse-gas emissions by a stunning 34 percent by 2011, its investment component has been outstanding for our economy.
But other factors had greater effects, according to RGGI. Chief among them were the switch from coal to natural gas as a fuel for power production, state investments in energy efficiency, and a greater use of carbon-free energy sources such as wind and solar.
While such an approach may seem to be a novel reaction to the failure of ACES, the first such program, the Regional Greenhouse Gas Initiative (RGGI), began operation over five years ago.
Consisting so far of 10 Northeastern and mid-Atlantic states--Connecticut, Delaware, Maine, Maryland, Massachusetts, New Hampshire, New Jersey, New York, Rhode Island, and Vermont--the scheme is described on the RGGI website as "the first mandatory, market-based effort in the United States to reduce greenhouse gas emissions." The system also includes other American states and certain Canadian provinces as "observers"--for now.
Part II provides an overview of one of the major efforts to address climate change in the United States-the Regional Greenhouse Gas Initiative--and in particular, New York's RGGI program, known as the C[O.sub.2] Budget Trading Program.
The contract is for providing auction software and services for the ten state RGGI programs through July 31, 2012.
official observers within the RGGI. (150) The RGGI is distinguishable
Endre Tvinnereim, Senior Analyst and one of the authors of the report, said: "The overall picture is that cap-and-trade systems such as the EU ETS and RGGI will see stable or growing volumes.
RGGI: A Pioneering, Cap-and-Trade Program for the Power Sector
Many of these same arguments about energy efficiency are similar to the debate over what to do with the proceeds from RGGI, the nine-state program that requires power plants to purchase the right to emit carbon into the air.
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