A coalition of leading business groups that collaborate with thousands of large and small businesses from various sectors that collectively employee hundreds of thousands of Californians, is strongly supportive of extending one of California’s most effective climate initiatives – the Cap-and-Trade Program.
At a time of tremendous uncertainty for businesses, due to the significant federal policy changes being proposed by the Trump Administration, California needs to give a signal to the business community that it will stay the course on one of the most effective and efficient climate initiatives. The Cap-and-Trade Program is driving community investments and economic activity such as clean energy investment throughout our state. The positive economic impacts cut across the many sectors and geographies of the California economy thatare represented by this coalition.
Our coalition supports the extension of the California Cap-and-Trade program because it:
* Provides market certainty – and regulatory continuity – that is critical for businesses.
* Reduces greenhouse gases (GHGs) at the least cost.
* Results in certain, quantifiable GHG emission reductions.
* Creates an opportunity to maximize investments in carbon reduction programs that create jobs and economic growth.
* Complements California’s important direct emission reduction rules and laws.
* Allows us to build on successes and link to markets in other jurisdictions.
* Offers a flexible program that can be strengthened to generate greater emissions reductions over time if needed.
* Provides revenues, when distributed appropriately, to bring clean energy investments to disadvantaged communities.
These investments are prudent as these communities are often disproportionally impacted by air pollution. Our partner businesses employ and serve customers in these very communities.
California’s Cap-and-Trade program, including its emphasis on addressing issues surrounding disadvantaged communities, is an internationally recognized credible program that has served and will continue to serve as a model at the subnational, national and international levels.
Our coalition acknowledges the importance of addressing the concerns of disadvantaged and low-income communities. We are supportive of optimizing California’s climate program to appropriately address those issues to ensure that the benefits of the program are realized by all Californians.