2008 California Green Innovation Index
The inaugural California Green Innovation Index is a new report produced by Next 10 that provides a deep analysis of key economic and environmental indicators that will help us better understand the role green innovation plays in reducing greenhouse gas emissions while strengthening the economy.
The California Green Innovation Index tracks economic and environmental progress to reduce greenhouse gas emissions and mitigate global warming. The Index demonstrates the essential role of innovation in reducing the absolute level of greenhouse gases contributing to global warming while enhancing economic vitality.
- An Efficient Environment: In relative terms, California is more energy efficient and emits fewer greenhouse gases than the United States as a whole, Japan, Germany, France, and the United Kingdom. These efficiency gains are a result of the first wave of green innovation, which began in the 1970s and has transformed California into a world leader in energy efficiency and greenhouse gas emissions reductions.
- Innovation Yields Savings and Spurs Growth: The first wave of green innovation spurred California's economic growth and realized gains in energy efficiency, saving residents and businesses billions of dollars.
- Increasing Investment: A rising tide of investments indicates California is poised to ride a second wave of green innovation based on both continuing improvements in energy efficiency and the creation and adoption of clean energy technologies. In 2006, California firms attracted 36% of total venture capital investment in energy technology and Californians registered an increasing share of U.S. patents for solar, wind and battery technology. Meanwhile, green jobs grew by nearly 50% over the past decade.
- The Challenge of Population Growth: Fuel and electricity consumption and greenhouse gas emissions are expected to increase as California's population continues to rise, so the next wave of innovation must be larger, faster and more powerful than the last to meet the mandate of the Global Warming Solutions Act.
- A Positive Outlook: Californians are concerned about global warming yet optimistic about the role green innovation can play in solving the problem. They believe that action to reduce global warming emissions can create jobs and expand prosperity.