More than 225 businesses from New England and the Mid-Atlantic are urging the regions’ governors to improve the Regional Greenhouse Gas Initiative, which is the area’s cap-and-trade system.
State officials are preparing the 2012 program review for RGGI. The initiative requires power plants to purchase credits for the carbon dioxide they emit. The proceeds benefits energy efficiency and conservation efforts in the 10 member states, which are Connecticut, Massachusetts, New York, Rhode Island, Vermont, New Hampshire, Maine, New Jersey, Delaware and Maryland.
In an effort to strengthen RGGI, 225 business owners from the region signed a letter calling for an update of the emission caps and expanding the program beyond the 10 states.
The letter says RGGI spurs the regional economy by funding clean energy development, energy efficiency and job training programs.
“We believe strong clean energy and clean air policies create jobs and stimulate economic growth. RGGI shows that market-based programs can reduce greenhouse gas emissions while boosting our economy,” the letter states. “By reducing spending on out-of-region fossil fuels, RGGI improves energy security and economic competitiveness and frees up energy dollars for spending in other parts of our economies.”
