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[/vc_column_text][/vc_column][/vc_row][vc_row][vc_column][breadcrumb-shortcode][/vc_column][/vc_row][vc_row][vc_column][vc_custom_heading text=”Strategic Funding Plan FAQs” font_container=”tag:h2|text_align:left|color:%23000000″ use_theme_fonts=”yes” css=””][vc_tta_accordion title_tag=”h3″ section_title_tag=”h3″ color=”white” spacing=”1″ gap=”1″ c_icon=”chevron” c_position=”right” active_section=”-1″ collapsible_all=”true”][vc_tta_section title=”What is a Regional Greenhouse Gas Initiative Strategic Funding Plan?” tab_id=”what-is-a-rggi-sfp”][vc_column_text css=””]The RGGI Strategic Funding Plan identifies how New Jersey will invest its share of the RGGI auction proceeds.

A plan is jointly developed at least once every three years by the NJ Department of Environmental Protection (DEP), NJ Board of Public Utilities (BPU), and NJ Economic Development Authority (EDA).

The plan describes the initiatives each state agency will sponsor and ranks the importance of six key objectives for each initiative, ensuring strategic, coordinated use of the New Jersey’s RGGI auction proceeds. Programs and projects funded help achieve New Jersey’s clean energy, environmental justice and economic development goals. The plan helps programs and projects complement one another, and capitalize on ventures that receive funding from other State agencies, as well as non-State-funded sources.[/vc_column_text][/vc_tta_section][vc_tta_section title=”What is an initiative?” tab_id=”what-is-an-initiative”][vc_column_text css=””]Initiatives are broad areas of focus that seek to strategically address a well-defined issue or need and advance one or more of the six objectives defined in the Global Warming Solutions Fund Rule. The State agencies rank the Strategic Funding Plan initiatives against the following six objectives, which come from NJ’s Global Warming Solutions Fund Act and Governor Murphy’s Executive Order 7:

1) A net reduction in greenhouse gas emissions or net sequestration of carbon;

2) Significant reductions in greenhouse gas emissions, reduction of impacts on ratepayers, and a significant contribution to the achievement of the State’s 2050 Global Warming Response Act limit, relative to the cost of the project or program;

3) Reductions in energy use;

4) Responsiveness to the recommendations submitted by the Department to the Legislature pursuant to the Global Warming Response Act;

5) The provision of co-benefits; and

6) Be directly responsive to the negative effect on human health and the environment in communities that are disproportionally impacted by the effects of environmental degradation and climate change.

Every objective must be ranked critical by at least one initiative, and each initiative must have at least one objective ranked as critical.[/vc_column_text][/vc_tta_section][vc_tta_section title=”How does the State report the investment of auction proceeds?” tab_id=”investment-of-auction-proceeds”][vc_column_text css=””]

[/vc_column_text][/vc_tta_section][vc_tta_section title=”How much money will New Jersey receive from the CO₂ allowance auctions?” tab_id=”nj-co2-allowance-auctions”][vc_column_text css=””]Quarterly auction proceeds are determined by the supply of allowances made available by the states and the demand of allowances needed for compliance. The money made from auctions every three months depends on how many allowances the states offer and how many allowances the companies need to follow the rules.[/vc_column_text][/vc_tta_section][vc_tta_section title=”I’m looking to fund a project. How can I learn more about open funding opportunities through RGGI?” tab_id=”open-funding-opportunities”][vc_column_text css=””]See our Funding Opportunities Page to learn more about available funding.[/vc_column_text][/vc_tta_section][/vc_tta_accordion][vc_empty_space][vc_empty_space][/vc_column][/vc_row][vc_row][vc_column][vc_row_inner][vc_column_inner][vc_custom_heading text=”Example SFP Initiatives” font_container=”tag:h3|text_align:left|color:%23000000″ use_theme_fonts=”yes” css=””][vc_empty_space][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row equal_height=”yes”][vc_column width=”1/5″][vc_icon icon_fontawesome=”fas fa-building” color=”grey” background_style=”rounded-less” background_color=”custom” size=”xl” align=”center” css_animation=”bounceIn” css=”” custom_background_color=”#9FCEEF”][vc_column_text css=””]

1. Accelerate Healthy Homes and Building Decarbonization

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2. Catalyzing Clean, Equitable Transportation

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3. Strengthen New Jersey’s Forests

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4. Promote Blue Carbon in Coastal Habitats

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5. Create a New Jersey Green Bank

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