Posts Tagged ‘act of 2006’

CEOs Profiting from AB 32 Cap and Trade Law Want Governor Jerry Brown to Implement AB 32 As Is, Or Something

Wednesday, June 1st, 2011

The Global Warming Solutions Act of 2006, aka AB 32, is in trouble, or something, per the California Business Alliance for a Green Economy. Seems that California courts might be slowing down/delaying implementation.

Get all the deets of their recent letter to Jerry Brown, below.

How Soon Is Now for AB32?

Here’s the letter:

“May 31, 2011

The Honorable Jerry Brown
Governor of California
State Capitol, Suite 1173
Sacramento, CA 95814

RE: AB 32/cap and trade rule

Dear Governor Brown:

We, the undersigned California CEOs and business leaders, are dedicated to the successful implementation of the
state’s landmark law, AB 32. Like you, we believe AB 32 is benefiting our economy and environment and is crucial
to attracting additional clean technology investment to the state.

While Californians overwhelmingly rejected Proposition 23 last year and its attempt to indefinitely delay
implementation of AB 32, key provisions of the law are now facing additional challenges that also threaten to delay
implementation even further. While the cap and trade program is one of many AB 32 rules, we believe it is critical
to the success of the overall program.

First, we reject the calls from some environmental organizations for a wholesale revision of the AB 32 cap and
trade system. We take particular issue with these organizations calling for such revisions in the name of jobs and
the economy. As business leaders who are responsible for creating the jobs that have become such a popular
talking point, we can tell you that nothing will do more harm to the emerging California clean economy sector than
continued regulatory uncertainty. By far, the biggest impediment to creating real jobs is delay. The implementation
of AB 32 has proven to be a bright spot during this recession. It has attracted clean technology manufacturers,
investors, businesses and jobs to the state. Undermining this market signal with indefinite delays will jeopardize
this progress.

Second, a recent court decision based on a lawsuit filed by several organizations has effectively halted the cap and
trade rule development. As a result of this lawsuit, the California Air Resources Board (CARB) is unable to do any
work related to the rulemaking. If the delay persists, we are increasingly concerned that the state will fail to meet
its deadline for the rule to go into effect in 2012. Further, we believe efforts to derail California’s cap and trade
rule will jeopardize the Western Climate Initiative (WCI) as California’s participation is crucial to the success of the
WCI. A strong regional carbon market anchored by California is important to the business sector and it will increase
the size of the market for California’s clean technology industry.

For businesses, uncertainty in the marketplace hurts investment, innovation and growth. Forcing businesses to
remain in virtual regulatory limbo will only exacerbate the problem. In order to give businesses the confidence that
California will lead the nation with the creation of a robust, economy-wide cap and trade system, it is vital the
state resolves this issue as soon as possible. We look forward to working with you and your Administration on the
implementation of AB 32 and strengthening California’s clean economy.

Sincerely,…”

Signers after the jump.

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