Chapter 4. Climate Change Laws
While carbon trading and cap-and-trade initiatives are a key component of society-wide efforts to reduce greenhouse gas emissions (these schemes are discussed in greater detail in Chapter 7), there are still only a small number of statutory schemes.
The RGGI cap-and-trade initiative
The Regional Greenhouse Gas Initiative (RGGI) is the first mandatory cap-and-trade programme in the US for CO2 emissions. It is a collaborative initiative between 10 US states: Connecticut, Delaware, Maine, Massachusetts, Maryland, New Hampshire, New Jersey, New York, Rhode Island and Vermont. RGGI was effective from 1 January 2009 and is aimed at reducing the CO2 emitted by power plants. It is anticipated that there will be a small increase ...
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