In the last month, many venture investors in California have been closely watching the proposals to repeal the Global Warming Solutions Act or AB 32. This bill was signed into law in 2006 to support the growth of renewable energy sources and cut harmful emissions.

Now, Texas oil companies have submitted 800,000 signatures to qualify a November ballot proposition that will suspend this landmark legislation for California and the country. The NVCA issued a press release on April 9, warning of the consequences of a roll back of AB 32 implementation and our position remains steadfast:

Any delay of AB 32 implementation will cause fundamental harm to investments in clean technologies and thwart economic growth and job creation.

The NVCA does not typically engage in state public policy issues. However, the repeal of AB 32 would not only hurt California but it would send a message to the entire country that our government lacks the commitment necessary to grow America's clean tech economy.

The NVCA is asking all stakeholders who recognize the importance of moving forward with AB 32 to please stay informed on the issue, as a call to action will likely be issued in the coming weeks. Here are some helpful fact sheets to get educated on the issue:

The Market Effects of Overturning AB 32

Questions and Answers About the Dirty Energy Proposition

There are also several websites supporting our position as well:

www.cleaneconomy.net

www.stopdirtyenergyprop.com

And for those you of in CA, there will be a Menlo Park briefing on Sand HIll Road later this week on the AB 32 issue. If you would like to attend, please contact me directly for details at ebaker (at) nvca (dot) org.