AB 1395: Greenhouse Gas Reduction

• By: admin
• On: 09/07/2021 12:25:45
• In: BOMA PAC
• Comments: 0

AB 1395 mandates the California Air Resources Board (CARB) to establish new climate goals to achieve 90% emission reductions by 2045, leading to massive reductions in new housing construction, agriculture production, energy, transportation, and all manufacturing. This is an extraordinarily aggressive goal that would require large-scale transformation of California's entire economy.

We oppose AB 1395 for the following reasons:

• Just five years ago, this Legislature passed SB 32 which sets a 40% GHG emission reduction below 1990 target by 2030. The state is in its first 8 months of implementing this new target and adding a new and more drastic target now is premature.

• It is estimated to cost Californians $4 trillion dollars over the next 25 years.

• It is a regressive mandate that will hit those at the lower end of the income spectrum the hardest. AB 1395 would cost every household in California $5,600 to $10,700 annually.

• It makes building housing more expensive by a minimum of $50,000 per home.

• It makes building and leasing commercial real estate more expensive for all employers and will push operational and energy costs higher for small businesses.

• Risk hundreds of thousands of California jobs and could lead to companies moving to other states or countries causing emission leakage.

• Threatens the role technology can play in reducing emissions, which contradicts scientific findings.

• CARB is currently, via the scoping plan, assessing how the state will meet the current goal, as well as a 2045 carbon neutrality goal. This work should be completed prior to the authorization of a new goal.