More Work Ahead
While we are proud that the partial auction model is incorporated in the RGGI rules, the Redefining Progress Climate Action Plan (CAP) principles require full auction for equity, efficiency, and social justice. Several states, including New York, have announced that they will follow our recommendation and move to 100% auction, and more appear to be leaning in that direction.
We are continuing to work toward all of the allowances being sold so that the economic, social, and environmental benefits are maximized. Other CAP principles that we continue to champion in the region include:
- Require allowances for emissions from all sectors, not just electricity producers.
- Combine market-based incentives with technology-promoting regulations to encourage energy efficiency and renewables.
- Protect competitiveness by covering emissions associated with electricity consumed in RGGI states, rather than emissions associated with electricity produced in RGGI states. Extend this principle to other energy-intensive products as the coverage of the allowance program expands.
- Recycle allowance auction revenue to promote clean energy technologies, offset the burden on low- and moderate-income households, and encourage sustainable investment in the region’s people, businesses and environment.
For more information on the RGGI proposal and process, go to www.rggi.org.
For more information on Redefining Progress’s
efforts, contact Executive Director Jim
Barrett or J.
Andrew Hoerner, Director of RP’s Sustainable
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Photo courtesy Reiner Kraft