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Data: Regional Greenhouse Gas Initiative; Chart: Axios Visuals

The consortium of Northeast and mid-Atlantic states that have a carbon pricing system for power plants is out with a new report that shows there the money raised is going.

Where it stands: States that belong to the Regional Greenhouse Gas Initiative (RGGI), which auctions pollution "allowances" under its cap-and-trade system, have steered a total of $2.4 billion into those areas since the program launched in 2009, the report shows.

Quick take: The report underscores how carbon pricing can raise substantial revenue for initiatives that help reduce emissions, even if the CO2 prices themselves are too low to directly cause changes in the power mix.

  • And that has arguably been the case with RGGI, which has seen fairly low prices at its pollution allowance auctions over the years.
  • Other forces, namely the rise of cheap natural gas and renewables' growth, have been key drivers of changes to the electricity mix and emissions cuts in RGGI states.

Go deeper: The semantics of carbon pricing ahead of 2020

Go deeper

Updated 25 mins ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 1 p.m. ET: 33,443,701 — Total deaths: 1,003,337 — Total recoveries: 23,200,183Map.
  2. U.S.: Total confirmed cases as of 1 p.m. ET: 7,159,222 — Total deaths: 205,345 — Total recoveries: 2,794,608 — Total tests: 102,342,416Map.
  3. Health: Americans won't take Trump's word on the vaccine, Axios-Ipsos poll finds.
  4. States: NYC's coronavirus positivity rate spikes to highest since June.
  5. Sports: Tennessee Titans close facility amid NFL's first coronavirus outbreak.
  6. World: U.K. beats previous record for new coronavirus cases.

NYC's coronavirus positivity rate spikes to highest since June

New York Mayor Bill de Blasio. Photo: Noam Galai/Getty Images

New York City's coronavirus positivity rate has ticked up to 3.25%, its highest since June, Mayor Bill de Blasio said at a news conference on Tuesday.

Why it matters: The jump — from 1.93% on Monday — came on the first day that public elementary classrooms reopened in the city after months of closures, but guidelines state that all public schools will have to shut if the citywide seven-day positivity rate stays above 3%.

Dan Primack, author of Pro Rata
2 hours ago - Economy & Business

AppHarvest is going public

Illustration: Sarah Grillo/Axios

AppHarvest, a Morehead, Ky.-based developer of large-scale tomato greenhouses, is going public via a reverse merger with a SPAC called Novus Capital (Nasdaq: NOVSU). The company would have an initial market value of around $1 billion.

Why it's a BFD: This is about to be a "unicorn" based in one of America's poorest congressional districts. AppHarvest CEO Jonathan Webb tells Axios that the company will employ around 350 people in Morehead by year-end, and that its location allows its product to reach 75% of the continental U.S. within a one-day drive.