House Pay-Fors “Fiscally Responsible”, Essential For a Resilient US Economy

 WASHINGTON –  The House Ways and Means Committee unveiled its list of revenue priorities and tax reforms (or “pay-fors”) it will rely on to fund the $3.5 trillion reconciliation bill. Statement from Sandra Purohit, director of federal advocacy for the national, nonpartisan business group E2 (Environmental Entrepreneurs): “The cost of going small is too high. […]

An Economic Imperative: Climate Action in the Golden State

Date: August 16, 2021

Summary:

California is already suffering dire economic impacts from the effects of climate change, presenting significant business and economic risk to the world’s fifth largest economy. The costs of extreme climate events such as wildfires and droughts have risen steadily throughout the past decade, and are projected to increase dramatically in California if current trajectories continue. These costs are being borne by everyone who lives, pays taxes, buys insurance, or works in California.

At the same time, aggressively addressing climate change — reducing greenhouse gas emissions while growing the state’s clean energy economy — presents one of the greatest economic opportunities of the 21st century. Ambitious climate action produces robust job creation, sustainable economic growth, and California leading global innovation across a wide range of industry sectors. Members of Congress can seize this opportunity by passing a bold American Jobs Plan anchored in clean energy investments; California lawmakers must build on existing state climate policy leadership to ensure the state remains a nexus of investment and innovation in the 21st-century economy.

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Findings

  • $55 Billion in direct property damage from California wildfires, 2017 – 2020
  • $47 billion in economic activity in California’s clean ocean economy under threat from sea level rise and ocean warming
  • $50.5 billion in overall production value of California’s 77,500 farms, which now face regular threats from droughts and other climate change-related impacts.
  • 484,980 jobs – Nearly a half million Californians are employed in the clean energy economy, representing 285 of the state’s construction workers and 3% of California’s economy-wide workforce
  • #1 export – Electric vehicles were the state’s most valuable export in 2020, producing nearly $5.7 billion in revenue

About this Report

This report reviews and compares the damage to California’s economy from recent climate-related disasters and risks from future unabated climate change to the potential impact specific climate action policies could have on job and economic growth in the state’s core industries such as technology, construction, agriculture, and tourism. The report, made possible by the Leslie and Susan Gonda (Goldschmied) Foundation, uses publicly-available information and data from previous E2 analysis, BW Research, state and federal agencies, the University of California system, and other sources.

Looking for More Info?

If you are looking for additional insight into the clean economy and how it drives job growth, please see E2’s other clean energy employment reports, visit e2.org/reports.

View Report »

E2 Action Alert: Support The California Climate Crisis Act (AB 1395)

Please review this E2 action alert letter and add your e-signature by using the fields below and clicking the ADD YOUR SIGNATURE button. Note that your are signing on as an individual and not as a representative of your employer.

Deadline to sign on is Sunday, August 15, 2021

Climate versus jobs? Not in this heartland state.

“There’s an argument that’s been around for a long time, that somehow the economy and the environment are at odds and we can’t do two things at once,” says Bob Keefe, executive director of E2, an organization of business groups focused on environmental action. “What we’re seeing today is that there’s never been more clarity […]

Investors and business leaders urge passage of California climate risk disclosure legislation

E2, a national, nonpartisan group of business leaders and investors, also sent a letter in support of SB 449 on behalf of their network of more than 2,600 California business leaders, writing: “Robust and high-quality disclosure of financial risk is critical to preparing for catastrophic climate change as well as navigating the early-stage impacts we are currently […]

Biden Pledge to Cut Emissions 50% is Good for Business, Economy

WASHINGTON, DC (April 22 2021) – President Biden on Thursday is expected to announce a commitment to cut US greenhouse gas emissions by 50 to 52 percent compared to 2005 levels by 2030. The announcement comes after nearly 400 E2 members and supporters signed this letter urging the president to cut emissions by at least 50 […]

Nearly 400 Business Leaders to Biden: Cut Emissions 50% by 2030

Letter signed by 388 business executives, entrepreneurs, and investors says bold target would send right signal to drive growth As the Biden administration prepares for its April 22 international Leaders Summit on Climate,  nearly 400 business leaders from across the U.S. on Monday called on President Joe Biden and his administration to commit to a […]

Does Biden’s American Jobs Plan go big enough on climate change?

Before the coronavirus pandemic began, there were 3.4 million Americans employed in the clean energy sector, according to a 2020 report from Environmental Entrepreneurs (E2), a non-partisan group of business leaders. Many of the new jobs in the pipeline will be to install EV chargers, retrofit buildings and upgrade transmission capacity.

Biden American Jobs Plan: What U.S. Economy, Environment Needs

E2: Administration takes a “whole of economy” approach to climate action WASHINGTON (March 31, 2021) – President Biden will outline his plan for rebuilding America’s infrastructure in a speech later today in Pittsburgh. Biden’s American Jobs Plan will focus on how smart investments in priorities such as ensuring safe drinking water, modernizing the energy grid, […]

Achieving California’s Clean Energy Targets: Where The Rubber Meets The Road

WHAT Profound change is afoot in the quest to meet California’s ambitious decarbonization targets and our state’s electric grid is a critical lynchpin; delivering zero-carbon electricity to California citizens and businesses is critical as we work to power our industries, buildings, and transportation sector with clean electricity.  Realizing 100% clean energy and statewide carbon neutrality […]

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Our Latest Press Releases


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E2: Repealing EPA’s Endangerment Finding For Vehicle Emissions Raises Costs for Businesses and Consumers

The EPA officially revoked the endangerment finding for greenhouse gas (GHG) emissions and eliminated clean vehicle standards in a blow to both our economy and our environment.


Releases

E2: Companies Cancelled $34.8B, 38K Jobs for Clean Energy Projects in 2025, Outpacing New Investments 3-to-1

Businesses abandoned $5.1 billion in large-scale factories and clean energy projects in December, capping a turbulent year for the sector that saw nearly $35 billion in investments disappear along with more than 38,000 current and future jobs, according to ...


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E2: Trump Administration’s Latest Attempt to Kill Offshore Wind Hurts Consumers, Businesses

The Trump administration is trying to halt offshore wind projects that are well-underway just two weeks after their initial attempt was deemed arbitrary and capricious by a federal judge.


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