|Action||Repeal CO 2 Budget Trading Program as required by Executive Order 9 (Revision A22)|
|Comment Period||Ended on 8/30/2023|
This is most certainly not the time to consider stopping ANY program designed to reduce greenhouse gases!
The Virginia State Air Pollution Control Board, the Department of Environmental Quality, and the Governor, do not - individually or collectively - have the authority to rescind Virginia's participation in the Regional Greenhouse Gas Initiative. The Clean Energy and Community Flood Preparedness Act of 2020, passed by the Virginia General Assembly, mandates Virginia’s participation in RGGI by law. The General Assembly did not rush the process of joining the RGGI - and any consideration given to withdrawing from this 12-state cooperative effort should be studied by the General Assembly with equal care. Since joining the RGGI, carbon dioxide emissions from Virginia power plants have declined, as have regional CO2 emissions. The program has raised over $650 million towards projects with real local impact in Virginia. 50% of RGGI proceeds support low-income energy efficiency programs that help lower energy bills for the most vulnerable, improve living environments, and generate jobs across Virginia. 45% of RGGI proceeds support flood resiliency projects, and 98 RGGI-funded resiliency projects have already been approved, totaling nearly $100 million to protect our coastal and inland communities. This cannot be considered a failure.