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Greenhouse Gas Emissions Cap and Trade - CA Chamber of Commerce

California Chamber of Commerce supports cap and trade market to help reduce greenhouse gas emissions cost-effectively

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Corporate Action to Reduce Greenhouse Gas Emissions

Statement by CalChamber President Allan Zaremberg on Need for Market Forces to Cost-Effectively Reduce Greenhouse Gas Emissions

Friday, June 1, 2007
Contact: Vince Sollitto

AB 32 Market Advisory

SACRAMENTO — Upon the release of a draft report by CalEPA’s AB 32 Market Advisory Committee, California Chamber of Commerce President and CEO Allan Zaremberg issued the following statement highlighting the benefits of using market forces to reduce greenhouse gas emissions cost-effectively:

“California has set aggressive goals to reduce greenhouse gas emissions in the coming years. Using the innovation and efficiency of market forces to attack this challenge is essential if we are to meet these environmental goals, minimize the impact on consumers and ensure a strong economy in California. Markets are the most cost-effective way to reduce greenhouse gas emissions throughout the world, delivering the most carbon reductions per dollar spent.

“As Harvard professor Robert Stavins explained in a recent presentation to our business working group dedicated to a fair and effective implementation of AB 32, a cap-and-trade market system can be more environmentally effective and more cost-effective than conventional approaches, cap-and-trade systems have a proven track record of achieving both environmental goals and cost-savings, and they create a common currency of emission credits that make it possible to link systems in different jurisdictions.

“We look forward to analyzing the report and working with the Administration to implement the law in a way that leads to a coordinated global solution – a way that is fair to both environmental protections and ensuring a strong economy so that other states, the federal government and other countries will embrace and adopt our approach. To do otherwise risks not only hurting consumers and damaging our economy but leaving California isolated in what would become a futile attempt to affect this global issue alone.”

California Chamber of Commerce (CalChamber)

The California Chamber of Commerce (CalChamber) is the largest broad-based business advocate to government in California. Membership represents one-quarter of the private sector jobs in California and includes firms of all sizes and companies from every industry within the state. Leveraging our front-line knowledge of laws and regulations, we provide products and services to help businesses comply with both federal and state law. CalChamber, a not-for-profit organization with roots dating to 1890, promotes international trade and investment in order to stimulate California's economy and create jobs. Please visit their website at www.calchamber.com.

Edited by Carolyn Allen
| Energy saving | emissions | cap and trade | REC | governance |

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