RICHMOND, Va. November 16, 2017 /3BL Media/ -- Businesses across Virginia are commending Gov. Terry McAuliffe’s proposed rule that would cut carbon dioxide emissions from the Commonwealth’s electricity sector by 30 percent between 2020 and 2030.
The McAuliffe Administration will present their proposal to the State Air Pollution Control Board later today in Richmond.
Under the plan, Virginia would join the Regional Greenhouse Gas Initiative (RGGI), a multi-state cap-and-trade program that enables participating states to capture least-cost carbon reductions while benefitting from increased energy efficiency and renewable energy deployment.
“State led efforts, with broad coalitions consisting of outdoor recreation and other industries, conservation groups and more, are taking action to mitigate the impact of climate change on the places we live, work and play,” said Amy Roberts, executive director at Outdoor Industry Association. “Virginia, with its $21.9 billion outdoor industry is the most recent example. We applaud the new proposal from the Governor’s administration as a step in the right direction towards implementing market-based instruments to reduce carbon emissions, demonstrating in statute the state’s leadership to protect its outdoors, while advancing its economy.”
“As an institutional investor whose job it is to analyze financial risks and opportunities, Impax Asset Management commends Virginia for its leadership in embracing the transition to a clean energy economy,” said Ken Locklin, Director of Impax Asset Management. “Both the economic opportunities presented by clean energy and the risks of inaction are too great to ignore. This proposal sends a clear signal that Virginia is investing in its economic future. This is just the kind of government initiative that we can expect to attract businesses, investment, and jobs to the Commonwealth.”
“Businesses and investors recognize that the climate challenges facing the United States create risks for the business community, but also a provide significant opportunities for investment, innovation, and economic growth,” said Anne Kelly, Senior Director of Policy and the BICEP Network at Ceres. “We’re seeing that states that embrace the low-carbon energy transition are reaping enormous economic benefits. With this carbon rule, Virginia can become a leader in the clean energy economy and attract the many businesses looking to power their facilities with renewable energy.”
Earlier this week, Gov. McAuliffe attended the international climate negotiations, known as COP 23, in Bonn, Germany, where he discussed Virginia’s clean energy progress alongside other U.S. governors and business leaders. Gov. McAuliffe has also joined the “We Are Still In” network, pledging to uphold the Paris Climate Agreement, despite the U.S. government’s planned withdrawal from the agreement, and to ensure a clean energy future.
Newly elected Ralph Northam, who will be sworn in as Virginia’s Governor next year, also supports the carbon rules and has pledged to work to ensure the continued growth of clean energy in the Commonwealth.
Ceres is a sustainability nonprofit organization working with the most influential investors and companies to build leadership and drive solutions throughout the economy. For more information, visit www.ceres.org and follow @CeresNews.Contact Info:
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KEYWORDS: Energy, Affordable and Clean Energy, carbon dioxide emissions, electricity, energy efficiency, Regional Greenhouse Gas Initiative, RGGI, State Air Pollution Control Board, CERES, virginia, Terry McAuliffe