Emission trading is coming to prominence as a key market-based tool in state efforts to reduce greenhouse gases, including decarbonization of the electricity sector. Among recent actions Washington has enacted legislation to implement an economy-wide cap-and-invest system, becoming the second state to have a comprehensive carbon-pricing program, and Pennsylvania has adopted rulemaking for a carbon trading program covering the power sector.
As the Biden administration takes action to address climate change through federal policies including rejoining the Paris Agreement and increasing the social cost of carbon, states continue to strengthen existing carbon pricing programs and advance new initiatives. State-level activity on emission-trading programs and carbon pricing is expected to remain on the rise as more jurisdictions embrace policy goals to transition to a lower-carbon power system and economy.
The Regional Greenhouse Gas Initiative (RGGI), which established the nation's first mandatory emissions-trading program, received a further boost as Virginia finalized regulations to become its eleventh member and Pennsylvania, the third largest coal-producing state, adopted draft regulations to join the program, following New Jersey’s re-entry after a decade.
Measures to tackle greenhouse gas emissions have long been a political lightning rod, but mechanisms like carbon pricing are coming up more regularly in legislative sessions and evolving to play a key role in the shift to a low-carbon economy. Keep on top of the latest carbon policy changes by accessing EnerKnol’s Quarterly Carbon Policy…...
Prices in the 10-state Regional Greenhouse Gas Initiative’s latest carbon auction rose to the highest since 2015, defying impacts from the COVID-19 pandemic as two more states gear up to join the initiative. Meanwhile, revenues from California’s post-pandemic auction tumbled to $25 million, less than 5 percent of the previous auction proceeds, pointing to a need for reforms for predictable outcomes and a long-term strategy to fund climate programs.
EnerKnol’s Visual Primer – New Jersey’s Re-Entry into RGGI Strengthens Case for Regional Cooperation on Emissions
The Regional Greenhouse Gas Initiative (RGGI) expanded from nine to ten member states with New Jersey’s re-entry after almost a decade. Virginia’s Clean Economy Act sets the state to link with the compact in 2021, and Pennsylvania is drafting regulations in accordance with a 2019 executive order that commits the state to join the compact.
Browse a selection of U.S. state energy plans and reports by accessing EnerKnol’s State Energy Plans below. The Table provides an up-to-date snapshot of the overarching energy strategies adopted across the nation as well as regular progress reports, allowing you to identify which states are leading the charge on renewables, racing to adopt more electric…...
EnerKnol’s Visual Primer – How U.S. States Are Putting Carbon Pricing on Stronger Ground Amid Push for Emission Cuts
State-level activity on emission-trading programs and carbon pricing is ramping up as more jurisdictions embrace policy goals to transition to a lower-carbon power system and economy.
As legislatures adjourn, U.S. states take stock of their progress on expanding clean energy and climate policies. Measures to tackle greenhouse gas emissions have long been a political lightning rod, but mechanisms like carbon pricing are coming up more regularly in legislative sessions and evolving to play a key role in the shift to a low-carbon economy.
As more U.S. states look to expand clean energy and climate policies, carbon trading is evolving to play a key role in the shift to a greener economy.
The eighteenth quarterly carbon auction held by California and Quebec sold all 80,847,404 carbon permits offered for current emissions at $15.73, above the floor price of $15.62, according to the results released on Feb. 27 by the California Air Resources Board. The auction sold about 66 percent of the permits offered for 2022 emissions at…...
The Virginia legislature approved a bill that would prohibit the governor or any state agency from participating in a regional carbon market, without a two-thirds majority vote from both the legislative chambers. The state is considering its own proposed cap-and-trade rule designed to link with the nine-state Regional Greenhouse Gas Initiative, or RGGI, the nation’s…...