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  • Global Warming Legislation Could Have A Positive Economic Impact

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    Smita Kumari
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    A new report from UC Berkeley finds that legislation in California to reduce greenhouse gas emissions to 1990 levels by 2020 could have a positive economic impact by boosting the state's economy by $60 billion and creating 17,000 new jobs. The report uses an economic model to analyze how a cap on emissions would impact key sectors of the California economy. An earlier study also found economic benefits from meeting half the emissions targets. Both studies conclude that addressing climate change through the proposed legislation can stimulate economic growth rather than harm it as some business groups have argued.

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    Global Warming Legislation Could Have a Positive Economic Impact

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    A new report from UC Berkeley finds that legislation in California to reduce greenhouse gas emissions to 1990 levels by 2020 could have a positive economic impact by boosting the state's economy by $60 billion and creating 17,000 new jobs. The report uses an economic model to analyze how a cap on emissions would impact key sectors of the California economy. An earlier study also found economic benefits from meeting half the emissions targets. Both studies conclude that addressing climate change through the proposed legislation can stimulate economic growth rather than harm it as some business groups have argued.

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    12 views2 pages

    Global Warming Legislation Could Have A Positive Economic Impact

    Uploaded by

    Smita Kumari
    A new report from UC Berkeley finds that legislation in California to reduce greenhouse gas emissions to 1990 levels by 2020 could have a positive economic impact by boosting the state's economy by $60 billion and creating 17,000 new jobs. The report uses an economic model to analyze how a cap on emissions would impact key sectors of the California economy. An earlier study also found economic benefits from meeting half the emissions targets. Both studies conclude that addressing climate change through the proposed legislation can stimulate economic growth rather than harm it as some business groups have argued.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as DOCX, PDF, TXT or read online from Scribd
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    Global Warming Legislation Could Have A Positive Economic Impact

    y y y y y y y
    California Community / Economic Development Energy Environment Government / Politics Technology University of Califonia, Berkeley

    Posted by: Irvin Dawid 22 August 2006 - 1:00pm

    While the California Chamber of Commerce has targeted the Global Warming Solutions Act as a "job killer", predicting higher gas and electricity prices, a new report from UC Berkeley concludes that the legislation could boost the state's economy.

    "A new University of California, Berkeley, report to be delivered to state legislators today (Wednesday, Aug. 16) finds that returning California greenhouse gas emissions to 1990 levels by 2020, as envisioned by pending global warming legislation, can boost the annual Gross State Product (GSP) by $60 billion and create 17,000 new jobs by 2020. The report, "Economic Growth and Greenhouse Gas Mitigation in California," offers an independent assessment of the economic benefits of Assembly Bill 32 (AB 32), The Global Warming Solutions Act, sponsored by Assemblyman Fabian Nuez (D-Los Angeles) and Assemblywoman Fran Pavley (D-Agoura Hills)." "The new analysis follows up on a January study that concluded that achieving half of the 2020 targets would promote economic growth in California. The new study extends its scope to meet the 2020 targets and reinforces the earlier conclusion about economic benefits." "Both studies use the Berkeley Energy and Resources (BEAR) model, a state-of-the-art, economy-wide forecasting tool, to trace the complex market interactions of a greenhouse gas emissions cap across key elements of the California economy."

    The full report and economists' letter are both available for viewing at: http://calclimate.berkeley.edu. Full Story: Global warming cap can stimulate CA economy, report says Source: University of Califonia, Berkeley, August 15, 2006 Related links:
    y y y y y

    Planetizen: California Considers Global Warming Solutions Act SF Chronicle: Businesses divided over warming bill's bottom line SF Chronicle: OPEN FORUM- A world of opportunity - Greenhouse-gas bill could help economy Planetizen: Global Warming Bill Represents A Quandary For Schwarzenegger CA Legislative Analysis of Assembly Bill 32- Global Warming Solutions Act

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