Monday, September 22, 2008

10 Northeast States to Participate in First U.S. Carbon Auction This Thursday as Part of Cap and Trade Program (RGGI)

Northeast (TGW) – A group of 10 northeastern states will conduct the first carbon action in the United States, in an attempt to reduce humanity’s contribution to global warming.

The Regional Greenhouse Gas Initiative (RGGI) will be selling carbon credits Thursday in the first of a series of quarterly online auctions.

The cap and trade aims to steady carbon emissions by 2014. This would be followed by a 10% reduction in emissions between 2015 and 2020.

Connecticut, Delaware, Maine, Maryland, Massachusetts, New Jersey, New Hampshire, New York, Rhode Island, and Vermont are participating in the auction. Pennsylvania, Washington D.C., and Quebec in Canada are participating as observers.

The starting minimum will be $1.86 per ton of carbon dioxide.

RGGI, at least for now, only caps the emissions of power plants.

Via :: AP

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