|Action||Repeal CO 2 Budget Trading Program as required by Executive Order 9 (Revision A22)|
|Comment Period||Ended on 3/31/2023|
RGGI takes a two-pronged approach to this threat: reducing the climate pollution that drives climate impacts like flooding, while investing in Virginia communities to build resilience in the face of flooding and other climate threats. Proceeds from the RGGI program go toward the Virginia Community Flood Preparedness Fund (CFPF), which provides loans and grants for projects, studies, capacity building and planning in high flood-risk areas across the state. Since joining RGGI, Virginia has already awarded over $30 million through the CFPF and has $40 million available in the next grant round, which closes in April 2022. At least a quarter of funding must go toward projects in low-wealth and rural communities, where resources are greatly needed.