Govs. Jim Doyle of Wisconsin, Tim Pawlenty of Minnesota, Rod Blagojevich of Illinois, Mitch Daniels of Indiana, Chester Culver of Iowa, Jennifer Granholm of Michigan, Kathleen Sebelius of Kansas, Ted Strickland of Ohio, M. Michael Rounds of South Dakota, and Premier Gary Doer of Manitoba all signed the Midwestern Regional Greenhouse Gas Reduction Accord at the Midwestern Governors Association Energy Security and Climate Change Summit in Milwaukee.

The accord will establish greenhouse gas-reduction targets and timeframes, develop a cap-and-trade mechanism and establish fuel standards and regional incentives and funding mechanisms.

"This is a momentous day in Milwaukee, Wisconsin," said Doyle, chair of the MGA. "Leaders from across the Midwest are charting a new energy direction for our citizens, our nation, and our world, creating high-paying jobs for our citizens and building a cleaner and safer world for generations to come. Our strong manufacturing base and rich agricultural industries, along with the wealth of resources in our vast northern forests and our world-leading research universities, position the Midwest to become the Saudi Arabia of renewable energy."

Reduction targets will be consistent with the 60 percent to 80 percent recommended by the Intergovernmental Panel on Climate Change, and full implementation of the accord will be completed within 30 months.