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The raft of advertising decrying the proposed Clean Energy Jobs state legislation, asserting that it鈥檚 an import of misdirected California policy, just isn鈥檛 accurate. This is reasonable, measured lawmaking, tailored to our unique state. It aims to keep pace with the majority of the world that operates under some form of carbon pricing.

This is exactly the right time and the right place to create progressive policy in Oregon that incentivizes reduction of emissions. This is a landmark bill and ambitious for this short session, but one born of years of study and market observation. It is unfinished business 鈥� exactly the reason for these off-year sessions. When passed, the Clean Energy Jobs bill will have more than three years of rulemaking before going into effect in 2021. By that time, both Mexico and China are expected to have carbon pricing in place.

The tragedy of the unprecedented wildfires in our beautiful Columbia River Gorge last summer created alarming ecological and economic damage and made plain the cost of inaction. Our farming, fishing and outdoor recreation are already under threat. Additionally, major institutional investors with trillions of dollars of assets under management are looking for investments that include stability under climate regulation. Without predictability here, that money will bypass Oregon and find a home in a neighboring state or province.

Last week, businesses, elected leaders, community groups, tribes and universities from across Oregon joined together to provide state leaders and policymakers strong reasons to seize the momentum of last session and its robust working sessions. Their clear message was that the time is now, while the economy is strong, and the price to link up with the regional carbon markets is relatively low.

Current legislation proposes a 鈥渃ap and invest鈥� approach: limiting overall climate pollution from the state鈥檚 100 largest emitters and putting a price on those emissions. While some detractors have posed the possibility that setting such limits will hurt jobs and drive away businesses, history has shown that states such as California that have enacted emissions caps have seen GDP growth and stability in overall utility rates. For Oregon, this means the proceeds won鈥檛 leave the economy; they will be reinvested in efficiency projects here in our state.

In Oregon today, 54,000 local jobs support the clean energy economy. Employment in the green and clean energy sector is rising steadily due to adoption of emerging technologies that glean from natural resources of solar, hydro and wind. In Oregon, we鈥檝e already become proficient at learning how to maximize the business benefits of these options, through green building, business savings, job creation, industry alliance and community improvement. And future innovation is born from challenge, not complacency.

California鈥檚 success with carbon pricing isn鈥檛 unique. Quebec enacted its first auction on its carbon market in 2013, linking its implementation to California鈥檚 experience. In eastern Canada, a full 8 percent increase in GDP is linked to $1.4 billion in cumulative proceeds and $2.6 billion in reinvestment in mitigation and adaptation. Oregon鈥檚 proposal learns from these policies and includes investments in rural communities and ratepayer protections.

At my company, we talk everyday with forward-thinking clients and owners who practice more than preach about sustainability. They recognize that Oregon鈥檚 leadership on environmental issues has always been bigger than our footprint. Our global company thrives on innovation and is intensely concerned with policies or market changes that might constrain development and the enhancement of infrastructure. Carbon pricing is inevitable and we deserve the predictability and investment that will come from acting now. There are many priorities in our state, and, although difficult, we must address them all.

Steve Clem is vice president of preconstruction at Skanska and a board member of the Oregon Business Alliance for Climate. Contact him at 503-382-0909.