Joint Statement from Assemblymembers Jacqui Irwin and Cottie Petrie-Norris on CARB’s Cap & Invest Proposal

Last September, AB 1207 reauthorized the Cap-and-Invest program through 2045 and directed CARB to prioritize affordability, ensure that the industries that drive economic growth in California continue to thrive, and align Cap-and-Invest with California's ambitious climate goals.

The revised Cap-and-Invest proposal that CARB released in April represents a full year of work in the legislature to reauthorize this world-leading climate program and months of work to thoughtfully balance multiple priorities.

CARB's proposal reflects the legislature's focus on affordability by increasing funding for the Climate Credit, making electric bills more affordable for Californians across the state, and increasing support for in-state industry, which will bolster California's continued economic growth. These changes from CARB's January proposal clearly reflect many of the priorities of the legislature, as expressed across multiple letters submitted by legislators during the 45-day public comment period.

Regarding CARB's proposal to fund decarbonization investments, we believe additional robust guardrails are necessary to ensure that the new incentive aligns with the structure and intent of the Cap-and-Invest program. However, it is important to acknowledge that CARB has been asked to complete a difficult task during a time of unique economic and geopolitical uncertainty, all while the federal government has completely abdicated leadership on climate.

It is critical that CARB proceed in updating Cap-and-Invest "without delay" to show the world that California is staying the course on climate.

Assemblywoman Irwin is the Chair of the Joint Legislative Committee on Climate Change Policies and Assemblywoman Petrie-Norris is the Chair of the Assembly Utilities and Energy Committee.