Developing renewable and clean technology companies in New York
Thursday, December 2, 2010
New York diverts $90 million from its Regional Greenhouse Gas Iniative Funding to reduce budget deficit
The Regional Greenhouse Gas Initiative Funding (REGGIE), money set aside in 10 northeastern states to combat global warming and ease rising energy costs through energy efficiency, has been dipped into to reduce New York State's budget deficit. $90 million has been taken from REGGIE to ensure future employment for teachers and public safety workers throughout the state. New York is not alone in diverting such funding, New Jersey and New Hampshire have also used a portion of REGGIE to close their budget gaps. Under strong criticism, the policy adviser to the Governor on environmental matters, Peter Iwanowicz has assured that New York will not divert any more of the funds to compensate for the deficit.