Collaborating for the greater good of California

do-iconArchitect of California Greenhouse Gas Reduction Policies Warns Tech Industry

FOR IMMEDIATE RELEASE

CONTACT:
Bill Schreiber | (916) 718-1644

Architect of California Greenhouse Gas Reduction Policies Warns Tech Industry: Step Up or Lose Out on Investment Funds

click here for printable copy

Sacramento (Feb. 19, 2013) — A primary architect of California’s landmark greenhouse gas policies today warned that clean technology companies and entrepreneurs could be out of the running for a share of the potentially hundreds of millions of new investment dollars generated by ongoing state carbon credit auctions unless they make their voices heard loud and clear in Sacramento right away.
“The second carbon credit auction has happened and the process of deciding how these funds will be invested for at least the next three years is already under way,” said Linda Adams, former California Environment Secretary and now a principal in Clean Tech Advocates, a new Sacramento partnership helping clean technology firms and investors navigate and succeed in the complex state political environment.
“New legislation signed by Gov. Brown envisions investing a share of the auction proceeds in new, innovative clean technologies that can help California achieve its greenhouse gas reduction (GHG) goals,” said Adams, who spearheaded GHG policy negotiations for former Gov. Arnold Schwarzenegger.
“Right now, state budget planners are earmarking these funds for things like transportation and energy efficiency,” she said. “I am very concerned that clean technology investment may fall by the wayside unless Sacramento gets a strong message from technology industry leaders in areas like Silicon Valley about the need to put some of this funding toward stimulating innovations that can make a real difference in mitigating climate change.”
Adams said a statewide series of workshops kicked off this week to gather input on the investment plan. Information on the workshops is posted at www.ctechadvocates.com.
“While these workshops will be helpful in setting priorities, the clean technology industry needs to engage immediately at a much higher level to make a strong case for investing a meaningful part of this money in creative new solutions to the GHG problem,” Adams said. “If budget planners only fund conventional approaches, we may fall short of our objectives.”
“We don’t yet know the technologies of the future,” Adams said. “The state can encourage those major steps forward by investing in public-private partnerships, loan guarantee programs, bridge funding and other tools that can make a real difference.”

#