{"id":5561,"date":"2023-07-21T10:31:34","date_gmt":"2023-07-21T14:31:34","guid":{"rendered":"https:\/\/deptest.nj.gov\/newsrel\/?p=5561"},"modified":"2024-08-21T08:44:25","modified_gmt":"2024-08-21T12:44:25","slug":"23_00721","status":"publish","type":"post","link":"https:\/\/deptest.nj.gov\/newsrel\/23_00721\/","title":{"rendered":"Murphy Administration Releases Its Second RGGI Strategic Funding Plan Continuing Investments in Climate Change Reduction, Environmental Justice and Clean Energy Through 2025 (Joint Release)"},"content":{"rendered":"

[vc_row][vc_column][vc_column_text]<\/p>\n

\n
\"Joint<\/div>\n
\n

FOR IMMEDIATE RELEASE<\/strong>
\nJuly 21, 2023<\/p>\n<\/div>\n

\n

Contact: <\/strong>
\nCaryn Shinske (DEP) (609) 984-1795
\nVirginia Pellerin (EDA) (609) 858-6915
\nPeter Peretzman (BPU) (609) 900-5626<\/p>\n<\/div>\n

MURPHY ADMINISTRATION RELEASES ITS SECOND RGGI STRATEGIC FUNDING PLAN CONTINUING INVESTMENTS IN CLIMATE CHANGE REDUCTION, ENVIRONMENTAL JUSTICE AND CLEAN ENERGY THROUGH 2025<\/strong>
\nDEP TO ANNOUNCE COMPETITIVE SOLICITATION FOR ELECTRIC TRUCKS IN CONJUNCTION WITH RELEASE OF PLAN<\/em><\/h3>\n
\n
(23\/P042) TRENTON<\/strong> \u2013\u2013 The New Jersey Department of Environmental Protection (DEP), New Jersey Board of Public Utilities (BPU) and New Jersey Economic Development Authority (EDA) today released the second iteration of the RGGI Strategic Funding Plan, outlining the state\u2019s investments of auction proceeds from the Regional Greenhouse Gas Initiative (RGGI). In conjunction with the plan\u2019s release, the DEP also announced that it is opening another competitive solicitation to invest over $13 million in the purchase of additional electric trucks in overburdened communities.The second RGGI Strategic Funding Plan: Years 2023 through 2025<\/a> expands on the first iteration of the plan, as well as introduces new investments while prioritizing projects that will benefit New Jersey\u2019s environmental justice communities.<\/p>\n

\u201cRGGI auction proceeds help fund investments in climate mitigation to grow New Jersey\u2019s green economy while protecting residents, businesses and institutions,\u201d Environmental Protection Commissioner Shawn M. LaTourette said<\/strong>. \u201cThis strategic funding initiative is critical to the mission of ensuring that our most vulnerable communities benefit from projects that will provide environmental justice for decades of pollution impacting public health and quality of life.\u201d<\/p>\n

The first RGGI Strategic Funding Plan was released in April 2020 and provided a framework for how the State would invest its proceeds through 2022 after Governor Murphy re-entered New Jersey into the RGGI partnership in 2019. New Jersey\u2019s renewed participation in RGGI, the cap-and-trade pact among 11 northeastern states dedicated to reducing greenhouse gas emissions from the electricity-generating sector, supports the state\u2019s 2030 and 2050 climate and clean energy goals.<\/p>\n

The Strategic Funding Plan is reviewed every three years and updated to ensure that investments are aligned across agencies to meet the Murphy Administration\u2019s clean energy and greenhouse gas reduction goals.<\/p>\n

Since the first plan\u2019s release, RGGI proceeds have funded the launch of several projects such as the NJ Zero Emissions Incentive Program<\/a> (NJZIP), various DEP electrification projects<\/a> and the Natural Climate Solutions Grants<\/a> Program.<\/p>\n

\u201cThe RGGI Strategic Funding Plan is key to reducing carbon emissions and improving the quality of life, particularly in overburdened communities,\u201d said NJBPU President Joseph L. Fiordaliso<\/strong>.\u00a0 \u201cThe RGGI proceeds will fund important programs to combat and reduce the devastating impact of climate change as we continue to work to amplify and reach Governor Murphy\u2019s goal of 100 percent clean energy by 2035.\u201d<\/p>\n

\u201cUsing RGGI funds to address climate change and prioritize environmental justice will not only mitigate harmful environmental impacts but will also drive economic growth and boost our green economy,\u201d said New Jersey Economic Development Authority Chief Executive Officer Tim Sullivan<\/strong>. \u201cThrough programs like NJZIP, the NJEDA is working to reduce pollution and enhance the health of all New Jerseyans, while meeting Governor Murphy\u2019s call to create a more inclusive, equitable economy.\u201d<\/p>\n

The 2023-2025 Strategic Funding Plan identifies four initiatives for funding:<\/p>\n