California Says Climate Plan Will Help Its Economy

0

California’s climate change plan would have an overall positive effect on the state’s economy by creating new jobs, reducing lost work days and increasing household savings through improved energy efficiency, according to a state analysis.

Investments resulting from the greenhouse-gas restrictions will push the state economy “slightly higher” than the $2.6 trillion projected in 2020 if the rules weren’t adopted, said the California Air Resources Board, the agency drafting regulations to counter the impact of global warming on the state.

The climate change law adopted in 2006, known as AB32, requires California to reduce its greenhouse-gas emissions that are blamed for global warming to 1990 levels by 2020. The rules, a mix of direct regulation and market incentives, are to begin in 2012.

The rules may result in a drop in demand for utilities and fuel retailers, according to the report.


& #8226;

Read the full

Bloomberg News

story.

No posts to display