Program to cut carbon emissions and combat climate change has saved consumers in the Northeast $1.5 billion and added $3 billion to the regional economy
Washington (August 15, 2016) – Today marks the 10-year anniversary of the bipartisan Regional Greenhouse Gas Initiative (RGGI), when seven states in the Northeast and Mid-Atlantic originally came together and proposed the framework for the regional program that would cut carbon pollution from power plants by 37 percent while saving $395 million on customer utility bills thus far. In Massachusetts, since the RGGI market started in 2009, power plant emissions have gone down 34 percent, while Massachusetts’s Gross Domestic Product (GDP) increased by 25 percent.
Senator Edward J. Markey (D-Mass.), a member of the Environment and Public Works Committee and co-Chair of the Senate Climate Clearinghouse, released the following statement:
“The Regional Greenhouse Gas Initiative is also a regional growth initiative. In Massachusetts, we know first-hand that by cutting carbon pollution, we can grow our economy and save families money. It’s a formula that works and can serve as a roadmap for other states as they develop their programs under the Clean Power Plan. From job creation to consumer savings to public health improvements, the benefits of RGGI grow as our economy grows.”