{"id":644,"date":"2008-09-25T11:59:05","date_gmt":"2008-09-25T16:59:05","guid":{"rendered":"http:\/\/blogs.edf.org\/climate411\/2008\/09\/25\/rggi_cap-and-trade\/"},"modified":"2008-09-25T12:23:03","modified_gmt":"2008-09-25T17:23:03","slug":"rggi_cap-and-trade","status":"publish","type":"post","link":"https:\/\/blogs.edf.org\/climate411\/2008\/09\/25\/rggi_cap-and-trade\/","title":{"rendered":"First Auction Today for RGGI Cap-and-Trade"},"content":{"rendered":"

\"SherylThe Regional Greenhouse Gas Initiative<\/a> (RGGI) is an agreement among 10 Northeastern and Mid-Atlantic states to reduce global warming pollution from power plants by means of a cap-and-trade system<\/a>. In cap-and-trade, global warming pollution is limited to an agreed-upon cap that declines over time. The governing authority issues "permits" – also called "allowances" – corresponding to the cap, with one allowance equal to a ton of CO2<\/sub> or its equivalent in greenhouse gases. Companies must have allowances for any global warming pollution they emit.<\/p>\n

The RGGI auction of allowances is today, and was opened by New York Governor David Paterson<\/a>. The Washington Post<\/i><\/a> said in an editorial, “We hope that it serves as a reminder to Washington of what can be accomplished when vision and leadership are exercised.” We agree! From EDF president Fred Krupp<\/a>:<\/p>\n

The launch of America’s first carbon market is proof positive that the U.S. can and will take bold steps to combat climate change.<\/p><\/blockquote>\n

This post is by Sheryl Canter, an online writer and editorial manager at Environmental Defense Fund.<\/i><\/p>\n","protected":false},"excerpt":{"rendered":"

The Regional Greenhouse Gas Initiative (RGGI) is an agreement among 10 Northeastern and Mid-Atlantic states to reduce global warming pollution from power plants by means of a cap-and-trade system. In cap-and-trade, global warming pollution is limited to an agreed-upon cap that declines over time. The governing authority issues "permits" – also called "allowances" – corresponding …<\/p>\n","protected":false},"author":12,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[20],"tags":[],"coauthors":[],"class_list":["post-644","post","type-post","status-publish","format-standard","hentry","category-news"],"acf":[],"yoast_head":"\nFirst Auction Today for RGGI Cap-and-Trade - Climate 411<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/blogs.edf.org\/climate411\/2008\/09\/25\/rggi_cap-and-trade\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"First Auction Today for RGGI Cap-and-Trade - Climate 411\" \/>\n<meta property=\"og:description\" content=\"The Regional Greenhouse Gas Initiative (RGGI) is an agreement among 10 Northeastern and Mid-Atlantic states to reduce global warming pollution from power plants by means of a cap-and-trade system. 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