Action | Repeal CO 2 Budget Trading Program as required by Executive Order 9 (Revision A22) |
Stage | Proposed |
Comment Period | Ended on 3/31/2023 |
RGGI states have reduced climate-warming emissions 90 percent faster than the rest of the country while growing 31 percent faster economically. Virginia has received more than $523 million from RGGI, according to data provided by the initiative. By Virginia state law, half of the funding, or roughly $260 million, goes toward energy efficiency programs for low-income residents12. Proceeds generated from the auctions are used to help communities prepare for severe weather events and related flooding and storms surge
The EPA says reducing carbon pollution isn’t the only benefit of RGGI. The health benefits of the reduced sulfur dioxide and nitrogen oxide emissions are significant - up to $6.3 billion by 2030, averaging between $232 million to $525 million per year1. In a previous analysis of health benefits of RGGI, the only benefits accruing to children were limited to prevented cases of infant mortality and respiratory illnesses, with a monetized impact of $8.1 million—only 2–4% of the new results attributable to RGGI2.
The only benefit of getting out of RGGI is to advance culture wars.