In a blow to clean energy advocates throughout the Northeast, Gov. Chris Christie said this morning that he will no longer participate in the region’s cap-and-trade program.
“This program is not effective in reducing greenhouse gases and is unlikely to be in the future,” Christie said at a press conference in the Statehouse.
The goal of the Regional Greenhouse Gas Initiative, called RGGI is to reduce carbon dioxide emissions from power plants across 10 Northeast and mid-Atlantic states from Maine to Maryland by 10 percent in the next seven years.
It’s the first cap-and-trade program of its kind in the United States.