Non-profit organization Environment Northeast has released a report citing “significant economic benefits in participating states” as a result of the Regional Greenhouse Gas Initiative (RGGI), which invests revenue from auctions of carbon allowances in clean energy programs. To date, the program has generated $1 billion from carbon auctions in ten states including Connecticut, New York and Maryland. It has added $1.7 billion in net value to state economies and created 17,100 “job years” (each job year represents one fulltime job for one year). According to the report, lowering the emissions cap to 106 million tons (current emission levels), would mean “. . . an additional $4.7 billion to invest in programs that could add $11.6 billion in net value to state economies and create over 82,000 job years of employment across the region [by 2020].”

For additional information see: New Haven Register, Report