revenue, climate change, greenhouse gas, Northeast, governors, RGGI, NEEFC
The Regional Greenhouse Gas Initiative (RGGI, pronounced "Reggie") is the first regional mandatory program to address global warming pollution, from power plants in the United States. In December 2005, after two years of planning, the governors of seven states (Maine, New Hampshire, Vermont, Connecticut, New Jersey, New York and Delaware)* signed a 20-page Memorandum of Understanding (MOU) adopting a plan for reducing carbon dioxide (CO2). A year later, the states released a draft model rule outlining regulations for participating state governments to use in RGGI's adoption and implementation at the state level. RGGI will take effect in 2009, and mandate that total emissions in the RGGI states may not increase from 2009 to 2014, and then must fall by 2.5% per year through 2018.
Merrill, Samuel B. and Bogdonoff, Sondra, "RGGI Allowances: How to Use the Revenues?" (2007). Climate Change. 5.