California green policies aid economy, says study

October 22, 2008

Contrary to the fears of opponents, California’s policies seeking to increase energy efficiency and fight global warming are actually good for the economy, according to a new study.

David Roland-Holst writes for the University of California, Berkeley’s Center for Energy, Resources and Economic Stability that based on past state policies and practices, implementing California’s historic “Global Warming Solutions Act” — also known as AB 32 — would create as many as 403,000 new jobs, boost household incomes statewide by as much as $48 billion and increase the Gross State Product by $76 billion.

Looking ahead, California’s ambitious plan to reduce greenhouse gas emissions as mandated by the California Global Warming Solutions Act (AB 32) puts the state on a more stable economic path by encouraging even greater investment in energy saving innovation.

The California Air Resources Board is on track to consider and possibly adopt an implementation plan for AB 32 in December.

Read the full report in PDF form here.

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