Greenhouse Gas Initiative (RGGI)
As a participant in the multi-state Regional Greenhouse Gas Initiative (RGGI), New York sets limits on power plant carbon pollution. For each ton of pollution, power plants are charged a fee for emitting it into the air. The revenue is then invested by the state in energy efficiency, renewables, and other carbon pollution reduction programs. Over the life of the program, RGGI has raised more than $1.3 billion for New York.
The passage of New York’s climate law has placed the state on a path to eliminate the use of fossil fuels in all sectors. One of the key provisions of the climate law is a mandate that no less than 35% of the state’s clean energy funds be dedicated to initiatives that benefit disadvantaged communities. RGGI auction proceeds fit into the definition of clean energy funds.
EANY is working hard to ensure RGGI aligns with the intent of the climate law by seeing that equity and environmental justice considerations are part of the disbursement of RGGI proceeds and by advocating for the strongest revisions to New York’s RGGI regulations.