States in CO2 pact invest $404 million in efficiency
Ten eastern states in a greenhouse gas reduction program have invested more than half of their carbon permit auction proceeds, or about $404 million, in energy efficiency, the group said today.
New York, Massachusetts, Maryland, and seven other states on the East Coast belong to the Regional Greenhouse Gas Initiative, or RGGI, which aims to trim carbon dioxide output from the area's power plants 10 percent by the end of 2018.
To meet that goal, RGGI holds quarterly auctions of permits that let the plants emit carbon dioxide. Some investors also buy the credits in the cap-and-trade program, believing … Read more