Action | Repeal CO 2 Budget Trading Program as required by Executive Order 9 (Revision A22) |
Stage | Proposed |
Comment Period | Ended on 3/31/2023 |
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I strongly recommend that Virginia continues to participate in the Regional Greenhouse Gas Initiative (RGGI). The RGGI is a regional program aimed at reducing greenhouse gas emissions from the power sector in the Northeastern and Mid-Atlantic regions. By joining this initiative, Virginia has already taken a significant step towards addressing climate change and reducing carbon emissions.
There are several benefits to remaining a part of RGGI. Firstly, staying in RGGI will help Virginia to achieve its greenhouse gas reduction targets. The initiative sets a cap on carbon emissions from the power sector, which is gradually lowered over time, ensuring a steady reduction in emissions. By participating in RGGI, Virginia can collaborate with other states to achieve their collective goals, making it easier to achieve their individual targets.
Secondly, RGGI is a proven success. Since its implementation in 2009, the initiative has helped to reduce carbon emissions by over 50% in the participating states. Moreover, this reduction has been achieved without any negative impact on the economy or the reliability of the power grid. Therefore, continuing to be a part of RGGI can help Virginia to reduce its emissions while ensuring a stable and reliable energy supply.
Finally, RGGI also provides economic benefits to participating states. The revenue generated from the auction of emission allowances can be used to invest in clean energy programs, energy efficiency initiatives, and other related programs. This can create jobs, reduce energy costs, and stimulate economic growth.
In conclusion, staying in RGGI will enable Virginia to address climate change, reduce greenhouse gas emissions, and stimulate economic growth. It is, therefore, in the best interest of the state and its residents to continue participating in this important initiative.