Article: 9127 of clari.local.california Xref: crabapple.srv.cs.cmu.edu clari.biz.misc:1076 clari.biz.economy:3402 clari.local.sfbay:2281 clari.local.california:9127 clari.biz.top:2979 Path: crabapple.srv.cs.cmu.edu!bb3.andrew.cmu.edu!pitt.edu!uunet!looking!clarinews From: clarinews@clarinet.com (UPI) Newsgroups: clari.biz.misc,clari.biz.economy,clari.local.sfbay,clari.local.california,clari.biz.top Subject: Strong environmental laws help -- not hinder -- economy, study says Keywords: entertainment industry, misc industry, government operation, corporate ethics, corporate finance, domestic economy, economy Message-ID: Date: 23 Jun 93 23:32:05 GMT References: Lines: 22 Approved: clarinews@clarinet.com X-Supersedes: ACategory: financial Slugword: environment Priority: major Format: regular ANPA: Wc: 217/186; Id: z6487; Sel: xxboe; Adate: 6-23-730ped; Ver: 0/1 Codes: yboerxx., ybg.rxx., yfcxrxx., yfedrxx. SAN FRANCISCO (UPI) -- Bank of America released a report Wednesday refuting the common belief that strong environmental laws hinder economic growth. ``Regions with strong environmental laws have been able to better maintain their resources, increase the quality of life and sustain economic growth than regions with weak environmental laws,'' said Frederick Cannon, Bank of America's vice president and senior economist. Bank of America's study found that states with strong environmental standards saw their economies grow at a 2.6-percent annual average rate over the past 20 years, compared to 2.29 percent for states with moderate environmental laws and 2.15 percent for those with weak standards. However, Cannon cautioned that methods of environmental-law enforcement can impact economic growth. He said that if states misapply laws, such actions can cost companies millions of dollars. Cannon said market-based approaches to eliminating pollution -- such as issuing incentives or offering businesses flexibility to fashion their own environmental policies -- apparently make more sense than blind regulations. He added that market-driven measures also lower pollution-control costs.