The nation’s oldest cap-and-trade program will further ratchet down emissions from power plants in the Northeast under new targets agreed to by 10 states.
The planned updates to the Regional Greenhouse Gas Initiative, or RGGI, released last week will reduce the cap for carbon emissions from the power sector by at least 60 percent in 2037 compared to the 2025 level. Environmental advocates praised the step forward after lengthy negotiations among the states.
Why it matters: The plan to extend the cap-and-trade program will continue emissions reductions since the bipartisan multistate agreement launched in 2009. Environmental advocates see it as evidence of crucial state leadership on climate as President Donald Trump rolls back federal initiatives.
“This new announcement … further demonstrates the critical role states can and will continue to play on climate and clean energy leadership, and despite the setbacks at the federal level, it’s a prime example of how we can continue to make progress,” said Jackson Morris, the Natural Resources Defense Council’s director of state power sector policy.
