Bill of the Day: The Regional Greenhouse Gas Initiative
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What’s Next for the Regional Greenhouse Gas Initiative?
Virginia is leaving hundreds of millions of dollars on the table since Virginia stopped participating in RGGI on December 31, 2023. The unlawful repeal of RGGI means that there is no new funding coming in for the Community Flood Preparedness Fund and low-income energy efficiency programs. By law, 45% of RGGI proceeds were helping localities prepare for and prevent flooding and 50% were helping low-income families lower their energy bills. Without RGGI, localities and low-income families are left vulnerable and uncertain about how to secure the funding needed to address rising flood risks and manage energy costs. We must ensure that the remaining RGGI funds continue to fund these core programs!
Virginia must rejoin RGGI because:
- RGGI is delivering cleaner air for Virginians. Carbon pollution from power plants dropped 22% when Virginia participated in RGGI from 2021-2023.
- RGGI is the law. The 2020 Clean Energy and Community Flood Preparedness Act already requires Virginia’s participation in RGGI. A judge found that the “only body with the authority to repeal the RGGI Regulation would be the General Assembly”.
- RGGI helps Virginia’s families with energy bills and flood protection. A study found that every $1 invested in flood preparedness saves about $6, making it a cost-effective way to mitigate future costs. Also, RGGI programs save an average household $676 per year on energy bills.
- RGGI creates good, local contracting jobs that will help upgrade existing homes and create highly-efficient new affordable housing.
You can take a deeper dive into efforts to rejoin RGGI in Our Common Agenda. To learn more, read our “Rejoining The Regional Greenhouse Gas Initiative” policy paper.
RGGI Budget Amendments to Support in the General Assembly
Legislators have introduced budget amendments requiring Virginia to rejoin RGGI and allocate funds appropriately:
(Senator Mamie Locke) Budget item requires Virginia to rejoin the Regional Greenhouse Gas Initiative immediately and appropriate existing revenues and any future revenues to low-income energy efficiency fund and the Community Flood Preparedness Fund as outlined by law through the Community Flood Preparedness Act.
(Delegate Charniele Herring) Budget item requires Virginia to rejoin the Regional Greenhouse Gas Initiative immediately and appropriate existing revenues and any future revenues to low-income energy efficiency fund and the Community Flood Preparedness Fund as outlined by law through the Community Flood Preparedness Act.
Take Action
Graphic created by Natural Resource Defense Council
We must make sure that Virginia rejoins RGGI as soon as possible and protect the remaining RGGI funds for flood preparedness and saving money on energy bills for low-income Virginians. Use Chesapeake Climate Action Fund’s action alert to send a pre-written email urging your legislator to support rejoining RGGI through budget items 4-5.12 #2s and 4-5.12 #1h!