Maryland Becomes a Member of the Regional Greenhouse Gas Initiative
Maryland has recently become a member of the Regional Greenhouse Gas Initiative (RGGI), a group of states in the northeastern United States that have committed to reducing greenhouse gas emissions from power plants. The RGGI was established in 2005 and currently includes ten states: Connecticut, Delaware, Maine, Maryland, Massachusetts, New Hampshire, New Jersey, New York, Rhode Island, and Vermont.
The RGGI is a cap-and-trade program that sets a limit on the amount of carbon dioxide that power plants can emit. Each state is allocated a certain number of allowances, which represent the right to emit one ton of carbon dioxide. Power plants must purchase these allowances at auction or from other power plants that have excess allowances. The price of the allowances is determined by supply and demand, and the revenue generated from the auctions is used to fund energy efficiency and renewable energy programs.
Maryland’s participation in the RGGI is significant because it is one of the largest emitters of greenhouse gases in the region. According to the Maryland Department of the Environment, power plants in Maryland emitted over 22 million tons of carbon dioxide in 2019. By joining the RGGI, Maryland has committed to reducing its emissions by 30% by 2030.
The benefits of Maryland’s participation in the RGGI are numerous. By reducing greenhouse gas emissions, Maryland will help to mitigate the impacts of climate change, such as sea level rise and more frequent and severe weather events. In addition, the RGGI will create economic benefits for Maryland by promoting energy efficiency and renewable energy development. According to a report by the Analysis Group, the RGGI has generated $4 billion in net economic benefits for participating states since its inception.
Maryland’s participation in the RGGI is also significant because it demonstrates leadership on climate action at a time when the federal government has been slow to act. The Trump administration has rolled back numerous environmental regulations and withdrawn from the Paris Agreement on climate change. By joining the RGGI, Maryland is taking action to address climate change and protect its citizens from its impacts.
In conclusion, Maryland’s membership in the Regional Greenhouse Gas Initiative is a positive step towards reducing greenhouse gas emissions and promoting clean energy development. By participating in the RGGI, Maryland will help to mitigate the impacts of climate change, create economic benefits, and demonstrate leadership on climate action.
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- Source: https://zephyrnet.com/maryland-joins-the-club/