Clean Technology Companies Say 'No' to Prop 23

Oct. 18, 2010
The initiative would suspend environmental laws in California.

The Green Technology Leadership Group (GTLG) announced on Oct. 18 the launch of a media campaign to oppose Proposition 23, an initiative on California's November 2nd ballot that aims to suspend landmark environmental laws in the state. With the support of leading clean technology companies, the campaign is distributing a series of online videos that explain the environmental and economic opportunities lost by the passage of Proposition 23.

If approved by voters this November, Proposition 23 would suspend the implementation of The California Global Warming Solutions Act (Assembly Bill 32 or AB 32) until the state unemployment rate drops to 5.5% or below for four consecutive quarters. This stipulation would destabilize the investment market and prompt companies to reduce investment or relocate to other states and nations with strong environmental policies and incentives, says the group.

The clean technology industry employs over a half-million Californians, and these jobs are growing at a rate more rapid than the statewide average. Since the implementation of AB 32, California has garnered over $9 billion of private investment capital and is the center for clean technology innovation.

AB 32 was enacted in 2006, requiring the state's greenhouse gas emissions to be reduced to the levels of 1990 by the year 2020. To meet these goals, AB 32 provides the authority for implementing California's Low Carbon Fuel Standard and Renewable Portfolio Standard, both of which create immediate demand for large-scale, low-carbon and renewable transportation fuel and electric power.

The bill also authorizes California to create a market for greenhouse gas reduction credits. As part of this program, the California Air Resources Board would develop protocols for certifying the low-carbon and other pollution-reduction attributes of clean energy technologies.

To view the video click here.

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