Washington (July 14, 2015) – A new economic study released today by the Analysis Group on the Northeast and Mid-Atlantic Regional Greenhouse Gas Initiative (RGGI) reports how the regional cap and trade program that includes nine states has generated $1.3 billion in economic value for the region and $460 million in savings for consumers between 2012 and 2014. Combining these newly calculated benefits to the value added by the RGGI program during 2009-2011, the total economic value added since 2009 is nearly $3 billion and the savings for consumers surpassed $1.5 billion. Additionally, carbon emissions in the nine states have been reduced by about a third since the carbon trading market opened in 2009.
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:
“When it comes to the economy, going green is good. Once again, analysis shows that cutting carbon pollution can stimulate the economy and save families money on their energy bills. The Regional Greenhouse Gas Initiative is also a regional growth initiative. Since its start in 2009 through last year, it has added billions to the economy and saved consumers more than a billion on their bills. If you include the public health and environmental benefits of reducing pollution, the benefits are even greater. Massachusetts and the RGGI states’ actions provide a roadmap for other states as they develop their programs under the Clean Power Plan, with energy efficiency investments being key. RGGI and the Clean Power Plan will shift America to a smarter, cleaner, healthier economy.”