BIOMASS HUB

Joseph Pena reporting for the San Diego News Network writes:

AB 32, the four-year-old California Global Warming Solutions Act, has sharply divided environmental groups as well as trade and business associations.

The California Chamber of Commerce and the California Manufacturers & Technology Association released a report this week that states the climate law could cost the state 485,000 jobs during the next decade because companies would move to less regulated states.

But the California Air Resources Board retorted Wednesday with a report that says “successful implementation [of AB 32] … can achieve the goals of AB 32 without adversely affecting the growth of California’s economy” by 2020.

According to CARB’s economic analysis, regardless of whether the climate law is implemented, California’s economy will grow 2.4 percent before 2020.

But, if AB 32 is not implemented, fuel spending will increase at an annual rate of 1.7 percent, the report states.

With the global warming law in place, fuel spending is reduced 4.9 percent, and greenhouse gas emissions are reduced 15 percent during the next decade while having a positive impact on the job market, the report continues.

The report states AB 32 could create 10,000 jobs and help the state’s green and clean tech sectors thrive.