Proof that Reducing Carbon Emissions Grows California’s Economy (New Report)
Critics of AB32 are fond of quoting the California Legislative Analysts Office conclusion that the measure would have a marginally negative impact on business activity. The critics, however, consistently fail to mention the LAO’s qualification of that statement in the same report … that this negative impact is expected only “in the near term.”
They also fail to mention the LAO’s other observation, that we should expect “gains in some occupations and industries (including … “green” jobs) and losses in others (primarily involving fossil fuel-related energy production).”
Now a new report by Next10, “2010 California Clean Energy Index,” offers compelling proof that California’s regulatory structure designed to reduce carbon emissions is already spurring growth in the clean tech industry, the brightest sector of the California economy, and gives ample reason to expect this remarkable growth to continue.
Among the summary conclusions:
• California has attracted $11.6 billion in cleantech venture capital since 2006, 24 percent of total global investment.
• California is the top state in patent registrations in green technology.
• In the first half of 2010, the state attracted 40 percent of global cleantech VC, exceeding the first half of 2009 by two and a-half times.
• Between 2002 and 2007, electricity productivity of manufacturers improved by 13 percent in California and dropped by ten percent in the rest of the nation.
• As a result of efficiency improvements, each Californian used 20 percent less energy in 2008 than in 1970 while little progress has been made in the rest of the country.
• For every dollar of GDP generated in 2008, the state’s economy required 32 percent less carbon than it did in 1990.
• California manufacturers spend a smaller percentage of total operating costs on electricity.
• California’s electricity productivity in manufacturing is outpacing the rest of the nation.
• More businesses are starting up in California than closing or leaving.
California’s future is no longer a matter of speculation.
It’s a matter of decision.
On November 2nd, California voters who wish to continue this strong economic growth should vote NO on job-killing Proposition 23.
