http://www.news10.net/storyfull2.aspx?storyid=20314Assembly bill 32, by Assembly Speaker Fabian Nunez, D-Los Angeles, will use market-based incentives to encourage business to reduce carbon emissions 25-percent by the year 2020. The California Air Resources Board will be responsible for developing the new regulations with mandatory emission caps set to begin in 2012.
Business groups lobbied heavily against the bill. They say the measure will cause consumer prices to rise and force large manufacturers to move out of state. The California Chamber of Commerce opposed the bill, but on Wednesday Chamber President Alan Zaremberg issued this statement:
"Although the California Chamber of Commerce had expressed a great deal of concern over the adverse economic consequences of AB 32 as it moved through the legislative process, it is now time for all parties to work together to reduce and mitigate the potential harm to California’s job climate."
Environmental groups say the law could ultimately be a boom for California's economy, making The Golden State a leader in emerging environmental technologies.
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