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The National Impact of Prop 23

07/22/2010

In a California business leader conference call yesterday, Governor Schwarzenegger discussed how Proposition 23 poses a significant risk to the national clean energy economy and to our fundamental business models. Success, even significant momentum, by the opponents of the clean economy will destabilize clean tech markets and make public policy unpredictable.

Prop 23 indefinitely suspends AB32, California’s Global Warming Solutions Act. When originally passed in 2006, AB32 set a high bar for American innovation in clean energy technology and created market forces that have directed billions of dollars into new research, new companies, and new jobs.

If passed, the ballot measure would not only suspend California’s cap and trade program, it would also put at least 72 policies in legal limbo, including the state Renewable Portfolio Standard, Energy Efficiency, Green Building, Vehicle Efficiency and Low Carbon Fuel Standard. The investments that are made in CA in these areas are made because CA progressive legislation has certainty and consistency that is needed for long-term commitments that private investors seek.

Nationally, the implementation of AB32 is the seed for a national energy policy – and if suspended, federal legislators will most likely take the cue that their state constituents do not have the commitment needed to push national policy forward.

For more information:

Gov. Schwarzenegger Signs Landmark Legislation to Reduce Greenhouse Gas Emissions

CA Air Resources Board Fact Sheet on AB32

Bid to Block AB32 Funded by Big Oil

Climate Experts Oppose Prop 23



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