Action | Repeal CO 2 Budget Trading Program as required by Executive Order 9 (Revision A22) |
Stage | NOIRA |
Comment Period | Ended on 10/26/2022 |
Keep Virginia in the Regional Greenhouse Gas Initiative.
Virginia received $228 million from RGGI auctions during our first year in the program, and that money is used to create energy-efficient, affordable housing units, help low-income families reduce energy bills, and improve community flood prevention/protection in VIRGINIA.
For example, 9.2M is going toward storm water improvement in Hampton, VA which will help with the regular flooding already being experienced in low-lying streets. Without this funding, the costs to Virginia would be increased as the situation gets worse and business/tourism/civilian life is negatively impacted.
Virginia dollars are being invested in Virginia with benefits for all Virginians. Since joining RGGI, Virginia has seen a 13% drop in air pollution from coal and gas plants. RGGI leverages relationship with our regional neighbors to operate an market-based program that generates new state funds AND also reduces electricity sector emissions. What's not to like?