HOME          CATEGORIES          OUR TAKE

Carbon trading initiative a success, study says


Solar Panel on Power Line
A lineman installing solar panels in the spring in Totowa, N.J.. Juan Arredondo for The New York Times

A new study reports that the ten states that adopted the “Regional Greenhouse Gas Initiative” (RGGI) have seen gains of around $1.6 billion (value added) since 2008. It outlines benefits such as significant consumer savings on energy as well as the creation of nearly 16,000 jobs. The initiative, which at the moment includes the New England states as well as Delaware, Maryland, New York and New Jersey, is a regional cap and trade program and reported that power plant owners paid over $900 million for carbon allowances over the past three years. That money was then made available for the states to reinvest into their economies. It was used to increase energy efficiency, fund other environmental projects like restoring wetlands, and even general use by the states. However, despite the apparent success of the initiative, in some states the current recession has created a sentiment against carbon controls and a few have even made efforts to pull out of the program.

Ricky Ghoshroy

Comment on this article

ClimateYou moderates comments to facilitate an informed, substantive, civil conversation. Abusive, profane, self-promotional, misleading, incoherent or off-topic comments will be rejected. Moderators are staffed during regular business hours (New York time) and can only accept comments written in English.

Leave a Reply

Your email address will not be published. Required fields are marked *


More Posts Like This


We are Helping! (actually, they are not helping) By a City Tech Blogger

  This year from November 6 to November 18, the 27th Annual Conference of the Parties on Climate Change of the United Nations (COP27) will be held in Sharm El-Sheikh, Egypt. It is expected that this conference will discuss practical actions that will help reduce carbon emissions and

Take action in the fight against climate change