Global warming and economic growth
IF TRADITION holds, when the six New England governors gather on Prince Edward Island with their Canadian counterparts tomorrow , it will be a decidedly low-key event. Typically this annual meeting does not create much news. Two groups that will be watching carefully, however, are regional global warming advocates and -- perhaps surprisingly -- the investment community.
At the 2001 annual meeting, the New England governors and premiers actually did make big news when they agreed to science-based targets for reducing global warming pollution -- 1990 levels by 2010, 10 percent below 1990 levels by 2020, and 75-85 percent below in the long-term. Though the agreement was voluntary, it was a first in the United States, and it sent a strong signal that climate protection was about to become mainstream.
Despite some initial steps by the states, the agreement has not led to watershed changes in policy across New England. The governors have moved ploddingly to design and implement climate protection plans and have stalled on many of the key policies that will significantly reduce global warming pollution, while also lowering energy costs and benefiting the regional economy. The bottom line is that they are not on track to hit the agreed-upon targets.
Though last year was the fifth anniversary of the landmark 2001 agreement, the 2006 meeting agenda did not include formal discussion or evaluation of the governors' progress. Admittedly, none of those governors had been in office in 2001. But it was also clear that there was no obvious candidate for taking on the role of regional climate leader, the one who agitates, inspires, and draws others out of their safety bubbles. What we have been missing is an East Coast Arnold Schwarzenegger.
The California governor has recognized that by taking the lead on global warming, California can reap enormous economic benefits, potentially saving $2,500 a year for every household in the state. Last year, venture capital investors took note of his progressive climate policy and directed more than $1 billion to the California clean technology sector. Of the 2006 investment pie for clean tech firms, that represented about a 7 percent increase in California's overall share, while the Northeast's share dropped by more than 10 percent.
To be sure, the New England governors have talked the talk on climate and have taken some steps, such as committing to the Regional Greenhouse Gas Initiative. But for any of our governors to be talked about in the same breath as Schwarzenegger, they will have to spark regional collaboration on novel climate challenges, such as ensuring that the regional power plant initiative does not create incentives for the construction of more coal-fired plants in the Midwest. They must also lead by example within their own states, using their power to buck entrenched fossil fuel interests and embrace a clean energy vision.
When the governors and premiers meet, we urge them to adopt the following goals, which will reduce our carbon emissions, reduce our dependence on costly and unstable energy sources, and foster the type of innovation economy our highly skilled region thrives on:
Obtain 20 percent of our electricity from new renewable energy sources by 2020 by ramping up our use of wind, solar, geothermal, ocean, and clean, sustainable biomass energy.
Make our existing homes and commercial buildings more efficient and ensure that all new construction is energy efficient.
Stabilize and reduce vehicle travel by providing more public transportation and smart growth choices and incentives not to drive.
Promote efficient, clean cars and low-carbon fuel by advocating for improvements in federal fuel economy standards and implementing all aspects of California's program to reduce auto greenhouse gas emissions, which all New England states except New Hampshire have signed on to. The program still needs a waiver from the Bush administration.
Establish mandatory systems of reporting global warming emissions from all sectors and support mandatory caps on global warming pollution at the state and federal levels.
With momentum building for meaningful climate protection across New England, there is an opportunity for our governors to reclaim leadership on this most critical issue. Starting tomorrow, we will see who steps up.
Brian Thurber is the energy coordinator for Clean Water Action. Berl Hartman is co-founder of Environmental Entrepreneurs in New England. 
