Full Title: Findings and Recommendations for the Third RGGI Program Review
Author(s): Ben Butterworth, Paola Moncada Tamayo, Amy Boyd, and Daniel Sosland
Publisher(s): Acadia Center
Publication Date: April 4, 2023
Full Text: Download Resource
The Regional Greenhouse Gas Initiative (RGGI) is a market-based, cap-and-invest greenhouse gas reduction program by 12 states in the Northeast and Mid-Atlantic designed to limit the amount of carbon dioxide pollution (CO2) from electricity generating plants in the region. Since 2008, RGGI has assisted the participating states in achieving notable reductions in CO2 and other criteria pollutants from the electric power sector. RGGI has been a pioneer of climate policy, generating $6.2 billion in proceeds for participating states over the last 14 years. RGGI is the United States’ first multi-state program designed to reduce climate change-causing pollution from power plants and has provided a wealth of lessons to be incorporated into the next generation of climate policies, including successes to build on and opportunities for improvement.
The RGGI states are currently in the early stages of the Third Program Review, expected to conclude by the end of 2023. This Report makes several recommendations for the states to consider as they evaluate how to improve RGGI’s emissions caps, market mechanisms, and model regulations to take the program beyond 2030.