SALEM, OR (June 20, 2019) – Today, the Oregon State Legislature passed HB 2020 B, known as Cap-and-Invest or the Clean Energy Jobs bill. The bill now goes to Gov. Kate Brown to become law.
The following is reaction from the national, nonpartisan business group E2 (Environmental Entrepreneurs), which has engaged its network of Oregon business leaders in advocating for passage of this legislation for several years:
“Cap-and-Invest is good for Oregon’s economy and good for its environment,” said E2 Western States Advocate Andy Wunder. “This will elevate Oregon as a national destination for clean energy investment, and Oregonians statewide will benefit from more clean energy jobs and less pollution.”
“With passage of Cap-and-Invest, Oregon has established itself as a national and global leader in the shift towards the clean energy economy of the future,” said E2 Pacific Northwest chapter director Chris Dennett, who also is director of strategy and integration at Hood River-based Tofurky.
“This program provides the market structures to end Oregon’s unsustainable reliance on fossil fuels and the clear market signal to attract cleantech investments and accelerate our transition to a prosperous, low-carbon economy,” Dennett said. “Cap-and-Invest is a powerful, long-term investment in Oregon’s economy and environment.”
According to E2’s Clean Jobs Oregon report, more than 55,000 Oregonians work in clean energy in every part of the state. “With Cap-and-Invest, those jobs – in fields ranging from wind and solar to energy efficiency and clean vehicles – will continue to grow,” Wunder said.
Once signed into law, Oregon will join California as the second U.S. state with an economy-wide carbon pricing program. Under Cap-and-Invest, Oregon will reduce its greenhouse gas emissions by 80 percent from 1990 levels by 2050.
Additional Resources:
- E2 Analysis: District-Level Clean Jobs Figures
- E2 Letter to Oregon Legislators (81 signatures): February 19, 2019
- Op-Ed by E2 Supporter Bill Campbell: For rural Oregon, clean-energy bill is an economic opportunity
- Op-Ed by E2 Supporter Jaime Athos: Why cap and invest is good for rural Oregon manufacturers
- Op-Ed by former California Gov. Arnold Schwarzenegger and former California state legislator Fran Pavley: California’s experience with cap-and-invest shows what’s possible for Oregon’s economy
For more information, contact E2 Western States Advocate Andy Wunder ([email protected]; 415- 549-6648) or E2 Advocate Zach Amittay ([email protected]; 415-875-6019).
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E2 (Environmental Entrepreneurs) is a national, nonpartisan group of business leaders, investors, and professionals from every sector of the economy who advocate for smart policies that are good for the economy and good for the environment. Our members have founded or funded more than 2,500 companies, created more than 600,000 jobs, and manage more than $100 billion in venture and private equity capital. For more information, see www.e2.org or follow us on Twitter at @e2org.