| 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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Virginia needs to stay in the Regional Greenhouse Gas Initiative (RGGI) because it keeps CO2 emissions in check and slowly reduces greenhouse gas emissions for the future (RGGI Facts). The RGGI is a cap-and-trade cooperative that requires the producers of greenhouse gas emissions (mainly CO2) to pay for their emissions which will help reduce emissions. Not only does the reduction of emission happen initially due to the cap placed by the RGGI the cap also meticulously declines over time, causing the total emissions to reduce and making the power plant become carbon-free in the future. RGGI provides funding for energy-efficient products in the state's infrastructure, which also helps reduce greenhouse gas emissions (VAEEC). The initiative is not a tax; it is implemented to provide a healthier and safer environment and housing for everyone, especially those particularly vulnerable to emissions due to their proximity to the factories and power plants. Virginians are and will continue to benefit from the RGGI if the Governor supports it. Since the time Virginia joined the RGGI last year, Virginia power plants have already seen a 13% decrease which is a promising start to a carbon-free future (Schneider). Not only has Virginia seen a decline in carbon emissions due to the RGGI project, but all the states in this cooperative have seen over a 35% drop in CO2 emissions since the start in 2009 (Ceres).