MSNBC Cites Analysis Group Energy Report on RGGI Cap-and-Trade Program
October 01, 2015
A recent joint news conference between U.S. President Barack Obama and Chinese President Xi Jinping announced that China will start the world's largest carbon trading market in 2017 in an effort to reduce greenhouse gas emissions. According to MSNBC, the announcement could lead to stronger support for the U.S. Environmental Protection Agency's Clean Power Plan. The article, "China's initiative gives Obama's cap-and-trade deal a second life" (June 25, 2015), outlined U.S. efforts to implement cap-and-trade programs that allow businesses to trade pollution permits while reducing emissions, and cited an Analysis Group report on the effectiveness of the Regional Greenhouse Gas Initiative (RGGI).
The report, "The Economic Impacts of the Regional Greenhouse Gas Initiative on Nine Northeast and Mid-Atlantic States," found that implementing RGGI from 2012-2014 added $1.3 billion in economic value to the nine-state RGGI region, led to the creation of more than 14,000 new jobs, and cut electricity and heating bills, saving consumers $460 million.
The report is the second prepared by an Analysis Group team led by Vice President Paul Hibbard and including Special Advisor Susan Tierney, Vice President Andrea Okie, and Manager Pavel Darling. The prior analysis focused on the economic impacts of RGGI's first three years (2009-2011).
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Read the report
Read more about Analysis Group's RGGI reports