The California Air Resources Board says the pace of implementation for programs funded by California Climate Investments has increased significantly. State agencies implemented $914 million in projects during the first six months of 2019, compared to $1.4 billion for all of 2018 and $720 million for all of 2017. In total, California Climate Investments saw 32,700 new projects including 4,100 new affordable housing units under contract, and 40,000 new rebates for zero emission and plug-in hybrid vehicles.
More than 20 state agencies are involved in program development, project selection, and implementation of 60 California Climate Investments programs that focus on reducing climate pollution and range from building affordable housing near transit to helping to protect communities from wildfires. Overall, more than 60 percent of investments now goes toward projects that benefits disadvantaged and low-income communities. Proceeds from the state’s Cap-and-Trade* carbon allowance auctions fund the California Climate Investments program.
After two of California’s worst fire seasons on record, California Climate Investments is helping to pay for nearly 70 forest-health and wildfire-prevention projects, including many forest-adjacent communities in the wildland-urban interface.
“Putting climate dollars to work faster is helping communities speed up the fight against air pollution and improve the quality of life in our most disadvantaged areas,” said CARB Chair Mary D. Nichols.
* Under cap-and-trade, an overall limit on GHG emissions from capped sectors will be established by the cap-and-trade program and facilities subject to the cap will be able to trade permits (allowances) to emit GHGs.
Cap-and-trade is a market-based regulation that is designed to reduce greenhouse gases (GHGs) from multiple sources. Cap-and-trade sets a firm limit or cap on GHGs and minimize the compliance costs of achieving emissions goals. The cap will decline approximately 3% each year beginning in 2013 when it went into effect.
Trading, of course, creates incentives to reduce GHGs below allowable levels through investments in clean technologies. With a carbon market, a price on carbon is established for GHGs. Market forces spur technological innovation and investments in clean energy. Cap-and-trade is an environmentally effective and economically efficient response to climate change, according to supporters.
The California Cap-and-Trade Program and Québec Cap-and-Trade System are linked, enabling the mutual acceptance of compliance instruments issued by each jurisdiction to be used for compliance with each program. As part of California’s Cap-and-Trade Program and the Québec Cap-and-Trade System, the California Air Resources Board (CARB) and Québec’s Ministry of the Environment and the Fight against Climate Change (MELCC) will hold joint GHG allowance auctions to allow market participants to acquire GHG allowances.
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California Climate Investments – $900 Million in Projects
More than 20 state agencies are involved in program development, project selection, and implementation of 60 California Climate Investments programs that focus on reducing climate pollution and range from building affordable housing near transit to helping to protect communities from wildfires. Overall, more than 60 percent of investments now goes toward projects that benefits disadvantaged and low-income communities. Proceeds from the state’s Cap-and-Trade* carbon allowance auctions fund the California Climate Investments program.
After two of California’s worst fire seasons on record, California Climate Investments is helping to pay for nearly 70 forest-health and wildfire-prevention projects, including many forest-adjacent communities in the wildland-urban interface.
“Putting climate dollars to work faster is helping communities speed up the fight against air pollution and improve the quality of life in our most disadvantaged areas,” said CARB Chair Mary D. Nichols.
* Under cap-and-trade, an overall limit on GHG emissions from capped sectors will be established by the cap-and-trade program and facilities subject to the cap will be able to trade permits (allowances) to emit GHGs.
Cap-and-trade is a market-based regulation that is designed to reduce greenhouse gases (GHGs) from multiple sources. Cap-and-trade sets a firm limit or cap on GHGs and minimize the compliance costs of achieving emissions goals. The cap will decline approximately 3% each year beginning in 2013 when it went into effect.
Trading, of course, creates incentives to reduce GHGs below allowable levels through investments in clean technologies. With a carbon market, a price on carbon is established for GHGs. Market forces spur technological innovation and investments in clean energy. Cap-and-trade is an environmentally effective and economically efficient response to climate change, according to supporters.
The California Cap-and-Trade Program and Québec Cap-and-Trade System are linked, enabling the mutual acceptance of compliance instruments issued by each jurisdiction to be used for compliance with each program. As part of California’s Cap-and-Trade Program and the Québec Cap-and-Trade System, the California Air Resources Board (CARB) and Québec’s Ministry of the Environment and the Fight against Climate Change (MELCC) will hold joint GHG allowance auctions to allow market participants to acquire GHG allowances.
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