Prop 23 Fails: CA’s Global Warming Act A Go

On Tuesday, Californians voted down Prop. 23, which sought to suspend California’s landmark global warming/clean energy legislation until unemployment dropped to 5.5% for 4 consecutive quarters.

In a nod to the importance of the clean-tech sector and its role as the fastest growing segment of the state’s economy, voters rejected the idea that seeking to reduce greenhouse gas emissions was bad for the economy. 

The vote, which was a costly battle between out of state oil interests and clean technology advocates, sends a signal to investors that California has a stable regulatory environment and will continue to entice them to pump funds into the development of renewable energy and energy efficient products and services.