Carbon Markets Pay Off for These States as New Businesses, Jobs Spring Up

This article discusses the impact RGGI is having on member states.

A 3-year review found $1.4 billion in economic benefits across the 9 RGGI states, no harm to electric grid reliability, and long-term benefits for residents.

Nine years after its launch, the nation’s first mandatory carbon-trading program is still boosting the economy and creating jobs while continuing to cut power plant emissions in its nine-state region, a new report shows.

The Regional Greenhouse Gas Initiative, or RGGI, wasn’t designed for economic development, but that’s been an important outcome, the Analysis Group, an economic research firm, reported Tuesday.

The nine Eastern states gained $1.4 billion in economic benefits from RGGI over the past three years because of the way they invested proceeds from the cap-and-trade program, the analysts found. The biggest payoff came in investments in energy efficiency programs, which have led to more businesses and jobs in activities such as energy audits and installing energy-efficiency equipment.

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