Update: Regional Greenhouse Gas Initiative
I wrote about the Regional Greenhouse Gas Initiative (RGGI) involving northeast US states back in March 2008, before the auctions began. Since that time, two auctions have been held, raising $106.5 million for the 10 participating states. The prices were $3.07 per ton at the first auction in September, and $3.38 in the second, held in December. The money goes toward supporting energy efficiency and conservation along with renewable energy. A lot has been written about the program and the first two auctions.
For more about the recent activity, take a look at these:
– Big Benefits For Connecticut In CO2 Emissions Auction, Hartford Courant, Dec 23, 2008 … or try this link…
– RGGI’s Rules: Northeast Launches First U.S. Carbon Cap, But Will It Work? WSJ Environmental Capital, Sep 25, 2008
– Importing Pollution: Coal’s Threat to Climate Policy in the U.S. Northeast, report by the Union of Concerned Scientists, Dec 2008. This has to do with emissions leakage – when a regional emissions reduction program inadvertently leads to increased use of polluting sources in neighboring regions. I mentioned it briefly in this post as well.
– Regional Climate Pact’s Lesson: Avoid Big Giveaways to Industry Yale Environment 360, May 21, 2009, see this post