RGGI’s Third Program Review: Charting a Path Towards Zero?
The Regional Greenhouse Gas Initiative (RGGI), a cap-and-invest program among Northeastern and mid-Atlantic states to reduce CO2 emissions from the power sector, is currently undergoing its third program review. This means the participating states, including Rhode Island and Massachusetts, are collectively examining the successes, impacts, and design of their CO2 budget trading programs, and considering updates to the program design. We see this third program review as a real opportunity to strengthen RGGI in a way that would significantly and equitably drive down power sector emissions and have been following the process closely. We have been told that the process will conclude by the end of the year. Here is what we know: