Sunday, November 18, 2007

'Cap and trade' coming to New Jersey

Some Trenton insiders are predicting that, before the end of the year, New Jersey state lawmakers will enact environmental legislation creating a "carrot-and-stick" system designed to:

- Limit CO2 emissions from electricity-generating utility plants

- Raise up to $70 million annually for energy conservation, solar installation subsidies, and other programs, and

- Provide financial incentives to businesses that reduce their CO2 gas emissions.

This so-called "cap and trade" system is the goal of seven Northeast and Mid-Atlantic states, including New Jersey and New York. Pennsylvania has not signed onto the Regional Greenhouse Gas Initiative but is an "observer" the process, along with Massachusetts and Rhode Island.

Enacting the legislation in New Jersey may prove a lot easier than subsequent negotiations over such key details as how much utilities have to pay and who divvies up the millions that could be raised for state coffers.

For details, we recommend the story in Sunday's Bergen Record by environmental writer Alex Nussbaum.

Also:
Energy and Climate in New Jersey
New Jersey Energy Master Plan
DEP ties global warming goal to auto emissions lawsuit
Governors Join in Creating Regional Pacts on Climate Change

Capitol to Buy Offsets in Bid to Go Green

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