Speeding the development of clean energy in California, Oregon, Washington and British Columbia can generate more than one million jobs and $142 billion in gross domestic product (GDP) by 2020, according to a report released Tuesday.
It is the latest study showing that environmental policies can deliver broad economic benefits across industry sectors and to entire regions.
The report is a forward-looking assessment of how the West Coast mega-region can combine efforts to gain powerful competitive advantages. Among the key findings:
- By 2020, the region’s clean economy could grow by more than 200% through the adoption of strategic policy measures, which represents up to $95.5 billion in new GDP contributions.
- It is critical to put a price on carbon and use market-based approaches to drive innovation and investments that create long-term, sustainable employment.
- The sectors with the highest job growth potential are: energy efficiency and green buildings; environmental protection and resource management; and clean transportation.