Pacific Gas and Electric Company (PG&E) on July 6 announced that it will join other California business, civic, labor and environmental organizations in opposing Proposition 23, a new state ballot initiative that would suspend California's landmark Global Warming Solutions Act of 2006, also known as Assembly Bill (AB) 32.
AB 32 requires California to reduce greenhouse gas emissions to 1990 levels by 2020. Since actively supporting the passage of AB 32, PG&E has worked with the California Air Resources Board, California Public Utilities Commission, California Energy Commission and other stakeholders to make AB 32 a success and a model for other jurisdictions to follow. In particular, PG&E is working closely with policymakers on creative ways to ensure that the law's vital environmental objectives are achieved at the lowest possible cost to customers and the California economy.
Contrary to this responsible approach, Proposition 23 would suspend the law indefinitely, despite the critical need to combat climate change at the state, national and global level.
"We at PG&E are committed to helping California make progress on both its environmental and economic goals, moving us toward a low-carbon economy while minimizing the impact on customers as we make this necessary transition," said Peter Darbee, chairman and CEO of PG&E Corporation. "Studies show that unchecked climate change could cost California's economy alone tens of billions of dollars a year in losses to agriculture, tourism and other sectors. Thoughtful and balanced implementation of AB 32 is one of the most important opportunities we have to avoid this costly outcome while spurring new clean-tech investment, innovation and job creation in California."
Pacific Gas and Electric Company, a subsidiary of PG&E Corporation, is one of the largest combined natural gas and electric utilities in the United States. Based in San Francisco, with 20,000 employees, the company delivers some of the nation's cleanest energy to 15 million people in Northern and Central California.