Virginia’s withdrawal from RGGI leaves it vulnerable to climate change: Ceres

Sustainability-focused investor network Ceres has said that by withdrawing from the regional greenhouse gas initiative (RGGI), the US state of Virginia has increased its vulnerability to climate risks. Virginia had joined the RGGI, a pollution control initiative in 2020, a move welcomed by companies and institutions alike. In a letter expressing their support, the companies wrote: ““In joining RGGI, Virginia will take part in a proven, market-based program for reducing carbon pollution from our region’s electricity sector in a manner that protects ratepayers”. However, the state’s air pollution control board recently voted to withdraw the state from RGGI. According to Ceres, this would increase the risk of the state “backsliding” on its climate goals. Ali Gold Roberts, senior director of state policy at Ceres said: “It is disappointing to see the Youngkin administration move to exit this program, especially since the governor has been outspoken about the need to protect Virginia from sea level rise. RGGI provides the money to do just that, while cutting back on the emissions that are fuelling the problem”.