Contact: Roxanna Smith, (323) 939-5015

Business Leaders: Energy Security & Climate Law Will Help Create Jobs

Sacramento, CA—The Legislative Analyst’s Office (LAO) has issued a letter criticizing the California Air Resources Board’s (CARB) analysis of AB 32’s impact on job growth. CARB’s assessment, as well as multiple peer-reviewed independent analyses, found that AB 32, the state’s energy security and climate law, would have a net positive impact on jobs in 2020. Several business leaders are speaking out today in support of CARB’s assessment, and against the LAO analysis, citing AB 32’s power to act as an economic driver for jobs and investment.

Tom Soto, Venture Capitalist
Craton Equity Partners

“From an investment standpoint, California today is better off economically because of AB 32.

In 2007, a year after AB 32’s passage, clean technology venture capital investment doubled in California. Last year, 2.1 billion in clean tech investment poured into our state. These investment dollars support California workers and they help to drive our economy.”

Mike Mielke, Senior Director of Environmental Programs & Policy
Silicon Valley Leadership Group

“The fact remains, green jobs are a bright spot in California’s otherwise struggling economy. Between 1995-2008, green jobs grew 36 percent while total jobs in California grew only 13 percent. And when overall job growth in California turned negative from 2007-2008, green jobs grew by 5 percent. These jobs are helping to fuel our recovery.”

Susan Frank, Coordinator
California Business Alliance for a Green Economy

“It is ironic that on one hand the LAO says CARB’s economic projections can’t be trusted because its modeling tools are unreliable, while on the other hand the LAO offers up its own predictions without any additional modeling. The LAO failed to examine the scoping plan’s specific measures — and therefore include benefits they provide, such as energy savings. These measures were the source of CARB’s finding that AB 32 provides modest jobs benefits. Regardless of future projections, real-time data shows that since passage, AB 32 has been a catalyst for innovation and job creation — both critical to California’s recovery.”

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