March 9, 2010-TechNet Statement Regarding Implementation of AB 32, California’s Historic Climate Change Legislation
Washington, DC - TechNet, the bipartisan policy and political network of CEOs that promotes the growth of the innovation economy, today released the following statement regarding implementation of California’s historic climate change measure, the Global Warming Solutions Act of 2006 (AB 32), which reduces the state¿s greenhouse gas emissions by 25 percent by 2020.
“In an increasingly competitive global economy in which countries are vying for preeminence on clean energy, California’s leadership in implementing AB 32 has positioned our state for job growth and long-term competitiveness,” said Jim Hawley, Senior Vice President and General Counsel of TechNet.
“After Governor Schwarzenegger signed AB 32 into law, venture investment in clean energy surged throughout the Golden State, creating hundreds of exciting new companies and more than one hundred thousand private-sector jobs. The development of clean energy is a capital-intensive enterprise, requiring a stable long-term investment climate. Changing course would jeopardize California’s economic leadership in emerging clean technology industries, costing the state not only thousands of existing jobs but also the opportunity to create many more in the future.
“Quite simply, if California suspends implementation of this historic measure, investment will go elsewhere. To build a strong economic future, California must continue to lead,” added Hawley.
TechNet is the national, bipartisan network of CEOs that promotes the growth of technology industries and the economy by building long-term relationships between technology leaders and policymakers and by advocating a targeted policy agenda. Our members are the nation’s drivers of innovation in the fields of information technology, e-commerce, clean technology, biotechnology, venture capital and investment banking – representing two million employees and $800 billion in revenues. TechNet has offices in Washington, DC, Palo Alto, Sacramento, Seattle, Boston, Austin, and Albany, NY. Web address: www.technet.org. You can also follow us on Twitter at Technetupdate@twitter.