Over the past 20 years, the unprecedented growth and resiliency of California’s clean and efficient economy has continued throughout economic recessions and budget crises – even while many other sectors of the economy have shrunk. This growth has created a statewide infrastructure of companies providing the products and services that are at the heart of the transition towards a lower carbon economy envisioned by California’s landmark climate law.
Companies across the California landscape are now ready, willing and able to capitalize on opportunities to increase the efficiency of our state’s buildings, industries and transportation system. The investments offered under California’s climate law will enable families, businesses and the government to spend less money on energy and fuel, resulting in dramatically reduced pollution. And, as documented in our new report, there is no limit to the benefits these investments can provide.
Invest to Grow tells the story of how investing emissions credit auction proceeds will move California’s clean economy forward, creating jobs and cutting pollution. Investment opportunities profiled in the report include improvements in buildings and business operations, municipalities, transportation, schools, universities and hospitals. These opportunities are supported by data drawn from state and federal government programs, industry led initiatives, and EDF’s own Climate Corps program.
By investing emissions credit proceeds in opportunities that decrease greenhouse gases, the state will keep California firms—from LED manufacturers and distributors to energy efficiency retrofitters—in the driver’s seat during the transition to a lower carbon economy.
That’s just another reason why recent misguided and inaccurate reports that California can’t afford to make these investments are so ludicrous. Not only can we afford to invest in California’s clean economy future now – these investments will pay dividends far into the future.