Action | Repeal CO 2 Budget Trading Program as required by Executive Order 9 (Revision A22) |
Stage | NOIRA |
Comment Period | Ended on 10/26/2022 |
RGGI provides a reliable revenue stream for the Community Flood Preparedness Fund which is essential for coastal Virginia. Catastrophic flooding in western Virginia shows that this is a state-wide need. No one has proposed an equivalent source of funding. Without flood preparations many Virginians will loose their equity in their biggest asset, their homes.
RGGI also funds energy efficiency upgrades to homes of low income Virginians. Weatherizing can reduce residential electric bills more than Dominion can raise them.
RGGI provides a market-based incentive to reduce carbon emissions. Cap-and-Trade is a tested economic strategy that works. Climate change doesn't respond to politics, it only responds to greenhouse gasses. We must cut carbon emissions.
Virginia needs to remain in RGGI and reap its benefits.