On 26 September, RGGI regulators conducted their latest of several meetings for the regional carbon market’s Third Program Review. In the meeting, a series of new elements to strengthen the program were brought forward; including more stringent compliance periods and cuts to supply that would zero-out allowances by 2035 or 2040. The level of rigor associated with the updates introduced in this month’s meeting exerted a bullish pressure on RGGI contract prices as market entities prepare for greater-than-expected updates to program stringency in the next few years.
A market under review In order maintain the level of ambition needed for member states to adhere to their climate targets and ensure the functionality of the market, RGGI regulators conduct comprehensive reviews of the regional cap-and-trade program. In t…
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