Investors oppose Prop 23

68 investors consisting of asset managers and venture capitalists urged voters to vote against Prop 23, noting that billions of dollars and thousands of jobs will leave California for overseas competition should AB32 stall. $9 billion has been invested in clean tech development since California enacted AB32 in 2006 but should Prop 23 pass, future investments may dry up.

The California investment companies have highlighted that nearly 80 percent of the funding for “yes” on Prop 23 has come from out of state fossil fuel industries.