The New York State Environmental Board on Monday voted to adopt regulations implementing the Regional Greenhouse Gas Initiative (RGGI) in New York State, according to the Poughkeepsie Journal.

Ten states are participating in the Regional Greehouse Gas Initiative.The adoption of these regulations sets the stage for New York to begin the first auction of CO2 permits to power plants as part of a cap-and-trade system that will hold the allowed level of CO2 emissions constant through 2014 and then gradually reduce those levels. The RGGI agreement covers 10 Northeastern and Mid-Atlantic States.

The adoption of the RGGI regulations represents the final step in a long process of negotiation that has taken place over many years concerning how best to confront the challenges posed by greenhouse gas emissions and climate change. As an important step in the creation of a regional cap-and-trade system covering an economically powerful region in the United States, the adoption of the RGGI regulations by the Environment Board is an event of international significance. The Department of Environmental Conservation has already opened the process of auctioning the carbon credits.

“Today's action underscores the importance of state and local action in fighting climate change,” said Marcia Bystryn, president of the New York League of Conservation Voters. “As the largest state in the Regional Greenhouse Gas Initiative, New York is now poised to lead the way toward a cleaner energy future for all Americans.”