CONCORD - Gov. John Lynch today signed a law allowing New Hampshire to join the Regional Greenhouse Gas Initiative, which will help protect New Hampshire’s economy and natural resources by reducing pollution, increasing energy efficiency and helping stabilize energy costs.

“With this legislation we are taking a major step forward in protecting our economy and our natural resources by reducing pollution and increasing energy efficiency,” Gov. Lynch said. “Pollution and climate change threaten our state’s environment, our health and our economy. Here in New Hampshire we are dedicating ourselves to reducing the pollution that causes global warming and climate change, and joining the Regional Greenhouse Gas Initiative is an important part of that effort.”

With the new law (HB 1434) New Hampshire will officially join the Regional Greenhouse Gas Initiative (RGGI), a 10-state effort to cut the emissions that cause global warming. In 2005, Gov. Lynch signed onto the bipartisan agreement with other governors creating the Initiative, which New Hampshire’s Department of Environmental Services played an integral role in developing.

RGGI uses a flexible market-based program to reduce carbon dioxide emissions from fossil fuel-burning plants. The 10 states in the Northeast who have committed to RGGI have agreed to set a region-wide cap on emissions from power plants.

“If global warming is left unchecked, our grandchildren could be living in a much warmer climate. A climate that simply is not New Hampshire. A climate that could do great harm to some of our critical industries, including tourism and agriculture,” Gov. Lynch said. “I believe strongly there should be national action and a national energy policy that addresses these issues. But I also do not believe that New Hampshire can afford to wait for national action. We must lead, and that is what we are doing.”

In addition, it makes financial sense for New Hampshire to join RGGI. Research conducted by the University of New Hampshire found that New Hampshire ratepayers will save money in the long run by joining RGGI and investing its proceeds in energy efficiency. If the state had failed to join the initiative, the research found, it would have seen higher costs in both the short and long-term, without offsetting savings.

“Acting to prevent global warming is the right thing to do for the long-term health of our citizens, the health of our environment and our economy,” Gov. Lynch said.

“In light of the increasing threat from climate change and today’s ever-rising energy costs, our participation in the Regional Greenhouse Gas Initiative and investing the resulting funds in energy efficiency are more important than ever,” DES Commissioner Tom Burack said.

The law’s bipartisan sponsors are Reps. Naida Kaen, Suzanne Harvey, and Richard Barry; Sens. Maggie Hassan, Martha Fuller Clark, Peter Bragdon, Bob Odell and Sylvia Larsen.