State leaders to discuss annual report on cap-and-trade funded projects, highlight importance of program to California’s climate goals

SACRAMENTO - State leaders will hold a media briefing following the release of the California Air Resources Board's (CARB) annual California Climate Investments report, which highlights spending funded through the state's Cap-and-Trade Program. The program has raised nearly $33 billion for climate solutions since its inception and is critical to California's ability to meet its climate goals.

Governor Gavin Newsom recently announced that he, Senate President pro Tempore Mike McGuire, and Assembly Speaker Robert Rivas will seek an extension of the cap-and-trade program during this legislative year, noting its success and impact.

Highlights from the report include:

• Nearly $33 billion has been raised to fund climate solutions in communities across the state
• In 2024, cap-and-trade proceeds supported 12,000 new projects using $1.9 billion in funding, with $1.2 billion directly benefiting priority populations
• In addition to California Climate Investments, cap-and-trade has also delivered $15 billion in bill credits back to utility customers

When: Wednesday, May 7, 2025, 9:00-10:00 a.m.

Link to register:

Credentialed Media Only

https://us06web.zoom.us/webinar/register/WN_EPYWd9aiQDqknMCNCFnBvg

Speakers:

• Secretary Yana Garcia, California Environmental Protection Agency
• Chair Liane Randolph, California Air Resources Board
• Secretary Toks Omishakin, California State Transportation Agency
• Amanda Hansen, Deputy Secretary for Climate Change, California Natural Resources Agency

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