Was Carbon Pricing Effective in Virginia? the Withdrawal from RGGI
Abstract
Climate change has drawn increasing attention worldwide. Market-based Cap and Trade (CAT) programmes achieve environmental goals in the most cost-efficient way. This timely research evaluates the effectiveness of Virginia's involvement in the Regional Greenhouse Gas Initiative (RGGI), a CAT programme that Virginia joined in 2021 but decided to withdraw from in 2023. We find significant evidence that RGGI reduced CO (Formula presented.) emissions from the power sector in Virginia during the regulation period. Both coal and natural gas (NG) plants reduced their generation and CO (Formula presented.) emissions. The findings support Virginia's continuation of RGGI regulations.
Recommended Citation
Zhou, Y., Liu, E., & Zhou, J. (2024). Was Carbon Pricing Effective in Virginia? the Withdrawal from RGGI. Applied Economics Letters Taylor and Francis Group; Routledge.
The definitive version is available at https://doi.org/10.1080/13504851.2024.2419470
Department(s)
Economics
Keywords and Phrases
cap and trade; Climate change; RGGI; Virginia
International Standard Serial Number (ISSN)
1466-4291; 1350-4851
Document Type
Article - Journal
Document Version
Citation
File Type
text
Language(s)
English
Rights
© 2024 Taylor and Francis Group; Routledge, All rights reserved.
Publication Date
01 Jan 2024
