U.S. Companies Set for Growth Under Cap on Carbon

March 2, 2009

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The Environmental Defense Fund (EDF), a leading national nonprofit organization, has released an online map that identifies more than 1,200 companies in key manufacturing states that are poised to create new green jobs when Congress passes a cap on global warming pollution. Part of the revenue from the cap-and-trade limits, or carbon tax, will be used to develop alternative energy.

The interactive map, online at LessCarbonMoreJobs.org, was released at the first meeting of Vice President Joe Biden’s task force on middle class jobs in Philadelphia. The vice president hosted the event, which included EDF’s president Fred Krupp and other experts, to discuss new ways to increase renewable energy jobs and improve energy efficiency in the United States.

LessCarbonMoreJobs.org provides the locations, products, services, and contacts as well as select case studies and worker profiles for companies in 12 states: Michigan, Ohio, Pennsylvania, Indiana, New Hampshire, Arkansas, Tennessee, Colorado, Georgia, Missouri, Virginia and Florida. It allows users to search by state, Congressional district and media market to find companies manufacturing, shipping or installing components and products for clean energy technologies. These include companies that manufacture wind turbine components; ship solar panel equipment and install energy-efficient building materials.

Industry analysts are evaluating the proposed cap on greenhouse gas emissions. Cambridge Energy Research Associate believes the effectiveness of a cap-and-trade program will depend on the cost of allowances, and is uncertain if the program will reduce emissions. Point Carbon says estimates from President Obama’s budget proposal to Congress, with carbon allowances set at about $13.70 by 2012, do not reflect real market prices, and projects the price in 2020 would rise to about $16.50 per allowance.

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