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FOR IMMEDIATE RELEASE

July 6, 2017
Contact: Laura Tierney
Email: ltierney@bcse.org
Office: 202.785.0507

BCSE Statement on Extending California’s Cap and Trade Program

Washington, DC – Lisa Jacobson, President of the Business Council for Sustainable Energy, offered the following statement related to legislation pending to extend California’s cap and trade program.

“The Business Council for Sustainable Energy has long supported market-based approaches to addressing climate change and applauds California’s leadership in developing a cap and trade program to reduce greenhouse gas (GHG) emissions.

“The California legislature is considering proposals to extend the cap and trade program that includes some important enhancements to ensure cost-effective compliance with the new emission reduction targets.

“The Council supports the extension of the cap and trade program to provide continued policy certainty to the business community and to accelerate climate-friendly investment in the state. The Council also endorses continuation of the offsets program, a market-based means of decreasing compliance costs and driving investment in GHG reductions, while preserving the integrity of the emissions cap.

“Further, California’s leadership on climate change sends strong market signals to other states and localities that are increasing their engagement in climate mitigation and adaptation policy and investment. By providing opportunities to link California’s program with other states and Canadian provinces, extension of California’s program could facilitate linked carbon reduction goals and markets throughout North America. This leadership is needed now more than ever as federal efforts are stalled.

“The U.S. energy system is experiencing significant changes and is using a diverse set of clean and affordable energy resources, technologies and services. These shifts have resulted in substantial reductions in greenhouse gas emissions and clean energy industries now support over 3 million American jobs. California’s policies have contributed to these trends.

“At the end of 2016, U.S. greenhouse gas emissions fell to their lowest level in 25 years and 12 percent below 2005 levels. The United States is nearly half-way to its Paris goal of a 26-28 percent cut by 2025. U.S. power sector emissions have been a driver of the reductions and are 24 percent below 2005 levels. As these changes are occurring, U.S. energy productivity is increasing and consumers are spending the lowest proportion of their household budget on energy costs since the early 1960s (2017 Sustainable Energy in America Factbook).

“BCSE urges extension of the cap and trade program and looks forward to working with the State of California on implementation in the years ahead.”

Download the full press release.