State invests nearly $33 billion in cap-and-trade dollars to make communities cleaner and healthier

What you need to know: A new report details nearly $33 billion raised for climate projects and direct support for Californians funded by cap-and-trade, as Governor Gavin Newsom and legislative leaders seek an extension of the program.

SACRAMENTO - Governor Gavin Newsom today announced that nearly $33 billion has been raised from polluters to fund climate solutions in communities across the state with money from the state's cap-and-trade program, according to a new reportpublished by the California Air Resources Board (CARB).

The annual report provides detailed information about California Climate Investments (CCI), which distributes funds generated by cap-and-trade to 117 climate programs across the state.

"California is proving that cutting pollution creates jobs and boosts communities. By holding polluters accountable, we're sending billions of dollars back to communities and back to people's wallets through credits on utility bills. And we've got the receipts: healthier and cleaner communities and thousands of good paying jobs."

Governor Gavin Newsom