The ongoing discussions in California regarding the reauthorization of the cap-and-trade program are critical for the state’s climate strategy. Initially launched to limit carbon emissions, the program imposes fees on major polluters and funds initiatives aimed at combating climate change. It is set to expire in 2030, prompting urgency for legislative action. Zack Deutsch-Gross from TransForm emphasizes the need for prompt decision-making to maintain this program, which has been an integral part of California's efforts to mitigate the climate crisis.
Cap-and-trade started off about two decades ago as a way to reduce carbon emissions. It sets a cap on the amount of greenhouse gases that are being produced in the state.
The program charges the state's largest polluters a fee and uses the money generated to pay for programs to battle Climate Change and Global Warming.
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