At a Climate Action Summit in San Francisco today Tuesday, the Governor said a mandatory reporting system was key to achieving his ambitious greenhouse gas reduction goals.
He’s pledging support for a “market-based” approach, where businesses could trade emissions “credits” with other companies. But he stopped short of calling for a cap on emissions right away….saying he was worried about scaring businesses away. Dorothy Rothrock with the California Manufacturer’s and Technology Association echoes that concern:
“If you encourage expansion to occur other places in the world or other places in the country without similar restrictions, then you’re going to be sacrificing the California economy for no net benefit in terms of greenhouse gas reductions.”
But Craig Noble with the Natural Resources Defense Council says a cap makes sense:
“By setting a binding limit on global warming pollution it will send a market signal to businesses that it’s time to innovate.
Advocates of the cap say if California leads the way, the rest of the country will follow.