Scott Johnstone, Executive Director of the Vermont Energy Investment Corporation, issued the following statement in response to news that the Regional Greenhouse Gas Initiative (RGGI) carbon emissions cap will be strengthened considerably (pdf).
"RGGI has proven its value as an important first step in putting a price on carbon," said Scott Johnstone, Executive Director of Vermont Energy Investment Corporation. "This is good for our environment, and good for our economy. RGGI proceeds have been used in Vermont to weatherize homes, incentivize biomass heating systems, and support rebuilding efforts following Tropical Storm Irene. Vermont's heating costs and its carbon emissions have been reduced as a result. Today's action is a major step forward to accelerate these types of investments, by bringing the price of carbon more in line with its true costs to society. To maximize the benefits of today's action, participating states should continue to direct RGGI proceeds into renewable energy and energy efficiency investments that will reduce our carbon footprint and support local job creation."