NSNJ PODCAST: REGIONAL GREENHOUSE GAS INITIATIVE
Nine Northeastern and Mid-Atlantic states participate in the Regional Greenhouse Gas Initiative (RGGI), a voluntary, market-based, cooperative effort to reduce greenhouse gas pollution. Under RGGI, states sell emissions allowances in quarterly auctions, with the revenue then dedicated to clean energy, energy efficiency and other programs.
RGGI has generated $1.9 billion in cumulative proceeds since inception, with the December-2014 auction raising more than $94 million for states to invest in various ways to serve middle-class consumers, including renewable-energy projects and direct bill assistance. Once a RGGI member, New Jersey withdrew in 2011, although leaders in the state have worked to forestall the exit, citing lost economic and environmental opportunities.
Joining NSNJ Chairman and Co-Founder Philip Murphy for a discussion of the model and its benefits to middle-class families are two members of the RGGI Board of Directors: Kelly Speakes-Backman, Commissioner of the Maryland Public Service Commission: and David Cash, Commissioner of the Massachusetts Department of Environmental Protection.