An estimated 519,500 Californians are working in clean-energy industries, and Los Angeles County is leading the way, according to a report released Monday.
The study from the nonpartisan business group E2 (Environmental Entrepreneurs) revealed that more than $45 billion in public and private investments have been injected into the state’s economy by California’s stringent climate policies, including cap-and-trade legislation, which reduces pollution while increasing clean energy and energy efficiency.
Under cap-and-trade, companies pay penalties if they exceed the current cap on allowable greenhouse gas emissions; the cap gets stricter over time. The trade part is a market for companies to buy and sell allowances that permit them to emit only a certain amount. Trading gives companies a strong incentive to save money by reducing emissions.
California’s climate policies have cut carbon emissions by the equivalent of taking 3.2 million cars off the road. About half of the $1.2 billion spent on clean-energy investments stemming from cap-and-trade has gone to disadvantaged communities throughout the state.
Los Angeles County ranked first among the Top 10 California Counties for clean energy employment with 117,000 jobs, according to the E2 report. San Diego County ranked second with 61,500 jobs, followed by Orange County (45,200), Santa Clara County (34,200), Sacramento County (23,700), Alameda County (22,100), Riverside County (20,500), San Bernardino County (19,800), San Francisco County (18,200), and Contra Costa County (13,300).
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