"CMIA helped to explain the potential for project-based mechanisms across a variety of constituencies and is a key voice driving the conversation on results-based finance and sector approaches for scaling-up emission reduction investments. We urgently need input from organisations like CMIA to operationalise Art 6 of the Paris Agreement."

Mr. Franz-Josef Schafhausen, former Director General Climate Change, European and International Affairs, Federal German Ministry of the Environment, Nature Conservation, Building and Nuclear Safety

The Regional Greenhouse Gas Initiative (RGGI)

4th October 2018 by CMIA

Compliance

Under each RGGI state’s CO2 Budget Trading Program, sources (fossil-fueled power plants 25MW and larger located within the RGGI participating states) are required to possess CO2 allowances equal to their CO2 emissions over a three-year control period.

A CO2 allowance represents a limited authorization to emit one ton of CO2 , as issued by a respective State. Each RGGI state’s environmental regulatory agency uses RGGI COATS to determine compliance with state CO2 Budget Trading Program regulations, by comparing a source’s covered emissions with the allowances held in their compliance account.

The RGGI program is currently in its fourth three-year control period. Three-year control periods have proceeded as follows:

The RGGI participating states are Connecticut, Delaware, Maine, Massachusetts, New Hampshire, New York, Rhode Island, and Vermont. The state of New Jersey participated in the first control period.

Compliance is evaluated at the end of each three-year control period. Starting in the third control period, the RGGI states have also conducted interim control period compliance, which requires each CO2 budget source to hold allowances equal to 50 percent of their emissions during each interim control period (the first two calendar years of each three-year control period).

To learn more about the 2018 interim control period CO2 budget source compliance process, please see the documents below.

RGGI COATS provides public reports of compliance data.

2018 Interim Control Period Compliance Documents Format Updated
Interim Control Period Compliance Webinar Recording WMV 9.28.18
2018 Interim Control Period Compliance Checklist PDF 6.19.18
2018 Interim Control Period Compliance Fact Sheet PDF 6.19.18
2018 Interim Control Period Compliance FAQ PDF 6.19.18

Source: http://bit.ly/RGGIinfo