(TRENTON, NJ) New Jersey state leaders today committed an estimated $80 million a year to programs that reduce greenhouse gas emissions, boost clean energy, create jobs and protect the health of residents in environmental justice communities. Funding will come from proceeds of the state’s cap-and-trade program, the Regional Greenhouse Gas Initiative (RGGI), and support projects like truck and bus electrification, which will help address transportation emissions, the region’s largest source of pollution. The plan will also establish a New Jersey Green Bank, which will leverage public and private financing to help stimulate the state’s clean energy economy, while improving capital access for projects that serve those traditionally underserved by the green economy.
“The RGGI spending plan is a shot in the arm for New Jersey’s clean economy and its most vulnerable at a time when we need it most. By accelerating the electrification of trucks and buses throughout the state, with a heavy focus on projects that help environmental justice communities, this plan will improve air quality, reduce climate-warming greenhouse gases and save lives.”
- Mary Barber, Director, Regulatory and Legislative Affairs, Environmental Defense Fund
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