Virginia budget discussions provide opportunity for lawmakers to invest in resilience and efficiency

As appropriators in the Virginia General Assembly consider amendments to the Commonwealth’s biennial budget, Ceres urges lawmakers to seize the opportunity to invest in resilience and energy efficiency by voting to rejoin the Regional Greenhouse Gas Initiative (RGGI). 

“Leading investors and businesses have for years supported Virginia’s participation in RGGI as a market-based solution to cut pollution and invest in protecting the state’s economy from the effects of extreme weather,” said Mel Mackin, director of state policy, Ceres. “RGGI has already brought significant benefits to Virginia, many directly to the state’s most vulnerable communities. We need to keep these programs going. Ceres urges lawmakers to support these budget amendments, re-enter RGGI, and provide a clear revenue source to invest in the infrastructure and technology that will ensure the Commonwealth’s communities and economy can withstand extreme weather and continue to thrive.” 

Proposed amendments in both the House and Senate would require Virginia to rejoin RGGI, a cap-and-invest system that cuts pollution from power plants while raising funds to invest into the state. The Commonwealth participated in RGGI from 2021-2023 before Gov. Youngkin controversially withdrew; during that period, carbon pollution from power plants dropped 22%, while Virginia raised more than $800 million to invest in home efficiency upgrades for low-income Virginians and flood mitigation across the state. 

Virginia lawmakers voted to join RGGI in 2020, with the strong support of nearly two dozen leading businesses, trade associations, and higher education institutions in the state. Many of those organizations have also called for the state to rejoin the program since Gov. Youngkin moved to exit in 2022, a decision that remains in legal dispute. The proposed budget amendments this year would allocate both existing and future RGGI revenue to flood mitigation and low-income efficiency programs already required under Virginia law.  

About Ceres

Ceres is a nonprofit advocacy organization working to accelerate the transition to a cleaner, more just, and sustainable world. United under a shared vision, our powerful networks of investors and companies are proving sustainability is the bottom line—changing markets and sectors from the inside out. For more information, visit ceres.org.