Adirondack Council Retires More Carbon Allowances

Jun 12, 2017

The Adirondack Council announced Monday that it was able to obtain more carbon allowances during the latest Regional Greenhouse Gas Initiative auction.

The nine-state initiative known as RGGI requires power plants to buy carbon allowances to offset each ton of CO2 that is emitted.  

Each year the amount is reduced until the levels drop 50 percent by 2030.

The Adirondack Council is the only non-profit that bids for allowances. It says it obtained 2,000 at the latest auction.  

The Council will retire the allowances so that power plants cannot use them to emit CO2.  

RGGI reports that more than 14 million allowances were sold at the June 7th auction.