The International Carbon Action Partnership (ICAP), in partnership with the Under2 Coalition and supported by the Regional Greenhouse Gas Initiative (RGGI) Inc., Battery Park Authority and the International Emissions Trading Authority (IETA), hosted “Emissions Trading in Action: Trading, Transport and Linking Lessons” in New York City on 26 September 2018. The afternoon was well attended, bringing together emissions trading stakeholders from the U.S. East Coast and internationally to launch the ICAP Guide to Linking Emissions Trading Systems. Panels also discussed the latest emissions trading developments, as well as policies to reduce emissions in the transport sector.
The afternoon concluded with an evening reception to celebrate ten years since the first auction was held under RGGI. The East Coast cap-and-trade program, a compact of nine Northeastern and mid-Atlantic U.S. states, recently updated their program to tighten the cap and refine their market stability mechanisms, including an adjusted Cost Containment Reserve and a new Emissions Containment Reserve. The program may also expand in the future to include new states, such as New Jersey and Virginia.