Joining Cap-and-Trade Program is a Smart Move for Pennsylvania’s Economic VitalityCeres
Pennsylvania Gov. Tom Wolf’s announcement that the Commonwealth will begin the process of joining the Regional Greenhouse Gas Initiative (RGGI) to curb carbon pollution from the state’s power plants is the “right move for Pennsylvania businesses and the economic vitality of the Commonwealth,” said Alli Gold Roberts, senior manager, state policy, at Ceres, a nonprofit organization working with investors and companies in Pennsylvania.
“RGGI is a successful, multi-state cap-and-trade program in the Northeast and Mid-Atlantic that has helped participating states reduce carbon pollution while growing the region’s economy,” added Gold Roberts.
Since it launched in 2008, RGGI has reduced carbon emissions from power plants in the northeast by 47%—a rate that outpaces that of the rest of the country by 90%. At the same time, economic growth in participating states has surged while electricity prices have decreased despite an increase in average national electricity prices, according to a new report.
Major companies in Pennsylvania and beyond have long supported RGGI because they recognize the enormous economic value of a market-based approach to account for the economic costs of carbon pollution.
Gold Roberts added, “While joining RGGI is an important first step, we know that it is not enough to mitigate the impacts of climate change and transition to a thriving clean energy economy. We urge state lawmakers to expand complementary policies that ensure clean energy investments happen in Pennsylvania and provide a just transition for communities and industries. With forward-thinking policies in place, the Commonwealth will be well positioned to capture the economic benefits of the clean energy and clean transportation future. Ceres looks forward to working with state leaders on both sides of the aisle to implement RGGI while growing local jobs and investments in clean energy, in a way that works for Pennsylvania’s residents and businesses alike.”
Ceres is a sustainability nonprofit organization working with the most influential investors and companies to build leadership and drive solutions throughout the economy. For more information, visit ceres.org and follow @CeresNews.All Press Releases