Statement of Bob Perciasepe
President, Center for Climate and Energy Solutions
July 18, 2017
On California’s vote to extend its cap-and-trade program:
California is showing the nation and the world how diverse interests can come together to promote cost-effective climate action.
Cap and trade gives businesses the flexibility to find the least-cost path to reduce emissions. This flexibility promotes innovation that creates new industries and jobs.
California has put hundreds of thousands of people to work in clean energy, while also cutting greenhouse gas emissions 10 percent from their peak in 2004.
California’s program is also specifically designed so that a significant portion of the revenue helps disadvantaged communities. A companion bill addresses community air quality concerns by increasing monitoring and imposing more stringent penalties on polluters. A guarantee that prices stay below a certain level ensures that Californians don’t pay more than their share for a safer climate while waiting for the rest of the country to catch up on policy action.
Particularly at a time of diminished federal leadership, California’s program is a model for the rest of the country and the world. We applaud the governor and state lawmakers for their leadership.