Report: Cap-and-trade system cuts carbon use, boosts growth
Albany — The nation’s first state-level emissions cap-and-trade program has vastly reduced carbon dioxide emissions in a nine-state region including New York since 2009, according to a report to be released Thursday.
The Acadia Center, a non-profit research organization that advocates for clean energy and economic growth, found that the Northeastern and Mid-Atlantic states involved in the cap-and-trade program have also reported more economic growth than states without a similar initiative….
Thursday’s report notes RGGI states’ economies grew 24.9 percent, opposed to 21.3 percent in non-RGGI states, again excluding California.
Almost 60 percent of revenue generated by carbon dioxide allowances was reinvested in energy efficiency programs between 2012 and 2014, the report says, and Jordan Stutt, policy analyst for the Acadia Center, said other states may begin noticing the economic growth in RGGI states.
“The rest of the country is really primed to experience similar results by implementing well-designed carbon reduction program(s),” Stutt said.
See full article from the Albany Times Union.