August 23rd, 2017 by WCBC Radio
Governor Larry Hogan announced today that Maryland and the eight other states in the Regional Greenhouse Gas Initiative (RGGI) have agreed to reduce the program’s carbon pollution cap by 30 percent from 2020 to 2030. This multi-state initiative will continue the Hogan administration’s longstanding commitment to improving air quality standards while growing Maryland’s economy.
“Maryland is committed to finding real bipartisan, common sense solutions to protect our environment, combat climate change, and improve our air quality,” said Governor Hogan. “By working together, we are showing that it is possible to find consensus to protect our natural resources, promote clean energy, and grow our economy for current and future generations."
The program’s regional carbon cap will decline by 2,275,000 tons every year starting in 2021, yielding a total reduction of 22,750,000 tons from 2021-2030, or 30 percent of the 2020 cap. In addition, the states will implement a new mechanism called the Emissions Containment Reserve (ECR). The ECR will achieve additional greenhouse gas emission reductions, if it proves cost-effective to do so, by reducing the cap by as much as 10 percent in any year if RGGI allowance prices fall below predetermined levels.
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