"California's Cap-and-Trade program has raised $33 billion since 2014, directing funds to both combat climate change and support communities, primarily focusing on low-income areas."
"Governor Gavin Newsom highlighted that California's pollution reduction efforts not only create jobs but also bring financial relief to residents through credits on utility bills."
The California Air Resources Board reported the investment of $33 billion generated from the Cap-and-Trade program since 2014, with over $18 billion allocated so far. The mechanism sets a cap on greenhouse gas emissions while distributing funds through California Climate Investments to diverse environmental and community improvement projects. In 2024 alone, $1.9 billion was invested in nearly 12,000 projects, with significant benefits directed towards low-income populations. There is recognition of the program's imperfections, yet it is seen as a driver for job creation and community enhancement, according to state officials including Governor Gavin Newsom.
#cap-and-trade #climate-change #california-climate-investments #sustainability #greenhouse-gas-emissions
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