Good for the Economy. Good for the Environment.

May 17, 2021

Oregon State Legislature 900 Court St. NE Salem, OR 97301

RE: SUPPORT - House Bill 2021

Dear Oregon Legislators:

As members and supporters of E2 (Environmental Entrepreneurs), we are writing in support of House Bill 2021. This bill will establish ambitious but achievable targets for reducing and eventually eliminating greenhouse gas emissions from Oregon’s electricity sector, which will support Oregon in meaningfully decreasing its economy- wide climate pollution and also drive the continued growth of the state’s robust clean energy economy, with its attendant local and high-quality jobs.

E2 is a national, nonpartisan network of over 10,000 executives, investors, and other business professionals from every sector of the economy who advocate for smart policies that are good for the economy and good for the environment. Our members have founded or funded more than 2,500 companies, created more than 600,000 jobs, and manage more than $100 billion in venture and private equity capital.

As business leaders representing diverse sectors and industries across Oregon, we know that mitigating climate change is essential to ensuring a sustainable and productive economy now and into the future—the cost of climate inaction[1] is too great to be ignored. And with the electricity sector accounting for nearly 30 percent of all of Oregon’s climate pollution,[2] the state must act to decarbonize our electric grid.

Driven in part by existing standards and government investment, the technologies to produce zero-emission electricity already exist. Catalyzed by smart Oregon policy like the Coal to Clean law passed by the Legislature in 2016, those technologies are being harnessed to generate economic activity and job growth in Oregon today. At the end of 2019, before the COVID-19 economic recession, Oregon was home to more than 56,600 clean energy jobs, including more than 7,500 jobs in renewable energy generation alone.[3] And these are high-quality jobs— Oregon’s clean energy jobs pay nearly 21% above the median wage for the state’s overall economy.[4]

However, these clean energy jobs represent only a fraction of Oregon’s true potential. With the right market signals to drive deeper investment in and deployment of clean energy technologies at the scale necessary, Oregon’s economy will benefit from additional job growth in the sector and move towards a decarbonized future.

HB 2021 will provide that market signal for Oregon’s energy sector. By setting ambitious but achievable climate pollution reduction targets for 2030, 2035, and 2040, this bill will provide the market certainty clean energy developers need to bring additional projects and jobs to the state. Critically, HB 2021 includes language that will ensure strong labor standards and maximize benefits to local communities, including by dedicating new funds for small-scale energy projects that will provide equitable tangible community investments and jobs. While accomplishing all this, the bill will also protect ratepayers with a cost cap trigger and temporary exemptions if needed to assure system reliability.

Already, 9 states—including Oregon’s neighbors Washington, Nevada, and California—have passed 100% clean electricity bills like HB 2021.[5] Without an equivalent commitment, Oregon risks ceding its potential role as a national clean energy leader, as well as the jobs and investment that come along with that leadership. As business Environmental Entrepreneurs • www.e2.org • facebook.com/e2.org • @e2org Los Angeles • Mid-Atlantic • Midwest • New England • New York • Northern California • Pacific Northwest • Rocky Mountains • San Diego • Southeast

leaders creating jobs and driving economic growth in Oregon, we call on our state legislators to support HB 2021 and ensure Oregon’s standing as a hotbed for the growing clean energy economy and its high-quality jobs.

Sincerely,

45 E2 Business Members and Supporters

Shauna Alexander Linda Gerber Mike Mercer Vice President, Sustainability, Owner, Principal, Stumptown Coffee Roasters North Logan Farm MMercer Consulting Ayelet Amittay Marianna Grossman Steve Mertz Psychiatric Nurse Practitioner, Founder and Managing Partner, Owner, Wild Geese Mental Health Minerva Ventures Tacovore Edward Averill Robert Hamerly Tim Miller Webkeeper, John Hansen Director, Engineers for a Sustainable Future of CTO, Oregon Business for Climate Oregon Granite Peak Energy, Inc. Michael Mitton Bill Boyk Lindsey Hardy Steering Committee, CEO/Founder, Waste & Energy Program Director, OCEAN GyroVolts by Ameristar Solar, LLC The Environmental Center Hiroshi Morihara Diane Boyk Bill Harris President, Ben Brint Arthur Haubenstock HM3 Energy Operations Lead, Principal, Linda Perrine Lyft S2E2 & Grid Works Owner, Eric Brody Ian Hill Honor Earth Farm Principal, CEO, Alan Scott Shift Advantage SeQuential Biofuels FAIA, Becky Brun Kellie Jensen Intertek Owner, Operations Sustainability, Andrew Shakman Pitchfork Communications Lime President/CEO, Brooks Chiongbian Judy Kent Leanpath Corporate & Business Development, Office Manager, Jane Stackhouse Sylvatex Oregon Service Center (Appliances) Consultant, Pat DeLaquil Marie Kent Jane Stackhouse Consulting Chief Executive Officer, DecisionWare Office Manager, Alex Wall Group, LLC Oregon Service Center (Appliances) Corporate Counsel, Privacy, Chris Dennett Reed Lewallen Rimini Street Director of Strategy and Integration, Investor Care Team Lead, Charles Weiss The Tofurky Company CrowdStreet Account Manager, Heather Dennett Dave Lipp GEL America Kaiser Permanente Owner, Alex Wick Sally DeSipio Thunder Island Brewing Founder & CEO, Creative Consultant Carter MacNichol Cascadia Carbon Kiernan Doherty President (retired), Erik Wohlgemuth Executive Vice President for Client Shiels Obletz Johnsen, Inc. COO, Services, Ken Margolis Future 500 Metropolitan Group Consultant, Rebecca Eaton Ken Margolis Consulting Managing Member, Aspen Mayberry Eaton Synergies, LL KB Mercer

[1] https://www.ipcc.ch/sr15/chapter/chapter-3/ [2] https://www.oregon.gov/deq/aq/programs/Pages/GHG-Inventory.aspx [3] https://e2.org/reports/clean-jobs-oregon-2020/ [4] https://e2.org/reports/clean-jobs-better-jobs/ [5] https://www.spglobal.com/platts/en/market-insights/latest-news/electric-power/081420-states-renewable-mandates-continue-to-grow- nine-set-100-clean-energy-goals

Environmental Entrepreneurs • www.e2.org • facebook.com/e2.org • @e2org

Mid-Atlantic • Midwest • New England • New York • Northern California • Pacific Northwest • Rocky Mountains • San Diego • Los Angeles