|Action||Repeal CO 2 Budget Trading Program as required by Executive Order 9 (Revision A22)|
|Comment Period||Ended on 3/31/2023|
RGGI is a cooperative agreement among 12 states, including Virginia, establishing a regional commitment to reduce CO2 emissions from power plants within each participating state. This is a market based cap and invest system. Since RGGI's inception, states have reduced emissions by 50% and raised over $6 billion dollars to fund local energy efficiency and weather preparedness. What does Gov Youngkin propose to generate the $524 million that has been generated by RGGI for Virginia thus far, to fund low-income family energy efficiency and community flood preparedness? Power plants have been investing in cleaner fuels to generate energy since RGGI's inception. The state has every interest in putting a price on carbon burning; the RGGI allowances do just that, while also providing a reasonable incentive for power plants to transition from coal burning to clean energy. We evolve -- whale oil powered our lamps for a time, then coal powered our lives - the evidence is more than clear that the time for dirty fuels needs to stop it is time to evolve by staying in RGGI and providing effective solutions for transitioning to clean energy.