An expanding carbon cap-and-trade regime? A decade of experience with RGGI charts a path forward

On carbon, states have been forced by federal inaction to take matters into their own hands. Over a dozen states are participating in or considering CO2 cap-and-trade regimes. The oldest - the Regional Greenhouse Gas Initiative - has in a decade achieved emission reductions through joint state implementation and efficient market-based carbon pollution control. The initiative also has yielded $5 billion in economic benefits and tens of thousands of jobs. RGGI thus charts a path forward for states seeking a practical approach to carbon reduction in the absence of federal leadership.