Youngkin completes review of new regs to pull Virginia out of carbon market by year’s end

Virginia is closer to withdrawing from a regional carbon market at the end of the year following Republican Gov. Glenn Youngkin’s completion of a review of new regulations aimed at removing the state from the Regional Greenhouse Gas Initiative.

Youngkin finished his review July 7 and submitted the proposed regulation to the Virginia Register this week, meaning it will become effective at the end of August pending no other changes or holdups.

The regulation was proposed by Youngkin’s administration in the fall and approved by the State Air Pollution Control Board June 7. It will be published in the Register on July 31, triggering a 30-day public comment period before it becomes effective on Aug. 30. The regulation calls for Virginia to leave the market Dec. 31, which is the end of the state’s current three-year contract to participate in it.