Two of the 10 Northeast states that agreed to dedicate millions of dollars to reduce carbon emissions and promote green energy have reneged on their promise. Instead, they’ve diverted substantial funds to saving their budgets.
New York and New Jersey over the past year have raided accounts set up under the Regional Greenhouse Gas Initiative, the first mandatory U.S. cap-and-trade program for carbon dioxide. The accounts were created to pay for energy efficiency programs aimed at cutting the region’s pollution by 10 percent by 2018.
Citing their example, New Hampshire dipped into its fund in June to help balance its budget.
Maryland made no withdrawals but diverted some funding to help the poor pay their electric bills.