The Regional Greenhouse Gas Initiative, Inc. (RGGI) raised $38.6 million by auctioning the nations first CO2 emission allowance. According to RGGI press release, 59 participants from the energy, financial and environmental sectors took part in this first in nation CO2 auction program.
The proceeds from this auction will be distributed to six states that offered CO2 allowances for sale. RGGI (pronounced "Reggie") is a coalition of the northeastern and mid-atlantic states with the objective of reducing green house emission from the power sector by administering cap and trade program.
Related Article -
NY Times - States Aim to Cut Gases by Making Polluters Pay
Tuesday, September 30, 2008
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