RGGI Updated Model Rule Revives Stagnant Carbon Market

On February 7, 2013, the Regional Greenhouse Gas Initiative (RGGI) released the Updated Model Rule, which lowers the emissions cap from 165 million short tons CO2 in 2013 to 91 million short tons CO2 in 2014. The lower cap aligns with current emissions levels, and has revived the stagnant RGGI CO2 allowance market. Overview The…