Seven States Sign the Regional Greenhouse Gas Initiative

January 3, 2006

On December 19, seven governors from the Northeast United States signed the Regional Greenhouse Gas Initiative (RGGI), a historic multi-state agreement that takes great strides toward reducing carbon dioxide emissions that contribute to global warming. Connecticut, New York, New Jersey, Vermont, Maine, New Hampshire and Delaware all signed the agreement.

RGGI places caps on carbon dioxide emissions from electric generation facilities and allows trading of emission reduction allowances to meet those caps. By turning emission reductions into a marketable asset, RGGI creates incentives for companies to invest in emission reduction technologies and gives businesses the flexibility to meet reduction goals at the lowest costs. In fact, this new regional climate accord would improve energy efficiency and could save the typical residential customer about $50 per year, according to analysis sponsored by nine Northeast states.

The Nature Conservancy advocated strongly for the signing of the multi-state RGGI agreement and, in particular, leveraged expertise to demonstrate the climate change and conservation benefits for including emission reduction credits from land-use projects.

The final RGGI agreement included provisions for allowing credits from afforestation projects throughout the United States. Added language also facilitates the addition of other types of land-use projects as the program proceeds.

Over the past 50 years, The Nature Conservancy has invested billions of dollars in nature conservation across the country and around the globe. But these investments, as well as those of the federal government and private land owners, are in jeopardy because of climate change. Changing weather and temperatures patterns could spell the extinction of many plant and animal species, rendering years of on-the-ground conservation work meaningless.

"Climate change, if left unchecked, poses one of the greatest threats to cherished places around the world,” said Steve McCormick. “This regional climate agreement marks progress toward reducing this threat.”

For More Information:

• Success Story: Northeastern Regional Greenhouse Gas Initiative
  Seven Northeastern states have signed on to the Regional Greenhouse Gas Initiative (RGGI), a historic multi-state agreement that takes great strides toward reducing carbon dioxide emissions that contribute to global warming.
• Where We Work:
  Learn more about The Nature Conservancy's work in the states that signed this agreement: Vermont, New Hampshire, New Jersey, New York, Delaware, Maine, and Connecticut.
• How We Work: Global Climate Change Initiative
  The Nature Conservancy is developing achievable solutions to slow the rate of global warming and finding viable options for the Earth’s natural diversity, human communities and economic investments to survive its inevitable impacts.
• How You Can Help: Global Climate Change Initiative
  Help The Nature Conservancy protect places like coral reefs, tropical forests, wetlands and grasslands that are vulnerable to the Earth's rising temperatures and the effects of global warming.
• Archive of our Saves of the Week and Success Stories
  Read more about The Nature Conservancy's work to save the last great places on Earth.