Major investors and companies are urging
The
In a letter delivered to legislative leaders and members of the Murphy administration, more than a dozen investors and companies with significant operations or investments in
"Businesses are increasingly investing in EVs as a way to reduce exposure to the volatility of fossil fuel prices and help meet their emissions reduction goals," they wrote. "Electrifying the transportation sector and powering vehicles with clean energy would also prevent the loss of tens of millions of dollars sent out of the local economy each year to import transportation fuels. Instead, that money could be reinvested in local communities and clean-energy jobs that benefit
Some of the signatories were among the 30 business leaders who gathered in October to discuss the benefits and challenges of installing electric vehicle charging stations at their facilities and transitioning their corporate fleets to electric. The attendees discussed the significant benefits of EV adoption for the state's economy. In fact, a Ceres report found that the benefits of increased investment in EV charging infrastructure outweigh the costs by more than three to one.
"Transitioning to a clean transportation system will not only improve the health and prosperity of all New Jerseyans, it also presents a forward-thinking investment opportunity that could make the Garden State a hub for future economic activity," said
"Many companies are making the switch to electric vehicles to meet sustainability goals and reap the benefits of fuel and maintenance costs," said
"As the most densely populated state in the country,
Transportation now accounts for more than 40% of greenhouse gas emissions in the Garden State, surpassing emissions from the state's electric power sector. As the state works to meet its new goal of achieving 100% clean energy by 2050, electrifying the transportation sector will be necessary to meet the state's mandatory greenhouse emissions reduction requirement set in the Global Warming Response Act of 80% percent below 2006 levels by 2050.
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