New Jersey Governor Phil Murphy formally requested that New Jersey be reentered into the Regional Greenhouse Gas Initiative (RGGI) as a member-state. Although Murphy signed an executive order to rejoin the group, the rules of RGGI require non-member states to obtain approval from current member states before being allowed to join – approval the governor must now wait for. New Jersey, which was actually one of the initial founding member-states of the group, was removed from RGGI by former Governor Chris Christie. RGGI is a cap-and-trade group which raises money through CO2 allowance auctions that is then redistributed to member states to finance clean energy initiatives.
Read more about the RGGI program here: https://www.rggi.org/program-overview-and-design/elements