Vermont and nine other northeastern states this week will take steps to check global warming when they conduct the nation’s first carbon auction, taking the same approach that curbed lake-killing acid rain.
Environmental groups, energy producers, and government leaders will be watching closely as the Regional Greenhouse Gas Initiative — called Reggie for short — sells carbon credits Sept. 25 in the first of a series of quarterly online auctions.
Vermont stands to reap a benefit because with the low carbon-emitting profile of its electrical system, the state has ample carbon credits to sell.
The cap-and-trade greenhouse gas reduction program, which aims to hold carbon dioxide emissions steady through 2014 and then gradually reduce them, is widely viewed as a model for future programs around the globe.