Midwest stakeholders issue plan to reduce emissions (3:04 p.m. 5/13/09)

Published: May 13, 2009

Environmental groups, utilities, petroleum and manufacturing corporations working to advise the Midwestern Governors Association today agreed on draft final recommendations for a Midwest cap and trade program to reduce greenhouse gas emissions.

In November 2007, governors from Wisconsin, Illinois, Iowa, Michigan and Minnesota joined the Premier of Manitoba in signing an agreement to put a regional cap-and-trade program in place by 2012.

Economic analyses performed recently indicate a strong cap and trade, coupled with energy efficiency efforts and renewable energy production, can significantly reduce global warming pollution without being too expensive.

Today’s recommendations, which call for greenhouse gas emissions to be reduced 18 to 20 percent below 2005 levels by 2020 and 80 percent below 2005 levels by 2050, align with the American Clean
Energy and Security Act as initially drafted.

Key differences: The Midwest program would allow 10 percent fewer offsets, would require all the allowances be used for climate-related purposes, and would create a pool of money for technology development.

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