California Climate Investments puts cap‑and‑trade dollars to work reducing greenhouse gas emissions, strengthening the economy, and improving public health — particularly among communities and households facing greater economic and environmental challenges.

In 2024, $1.9 billion was invested in nearly 12,000 new projects with $1.2 billion directly benefiting priority populations, including low-income communities and households. The investments are a key part of Governor Newsom’s build more, faster agenda delivering infrastructure upgrades and creating jobs across the state.

Since the program’s inception 11 years ago, more than $18 billion in funding provided by the Governor and Legislature has been awarded, with nearly $13 billion supporting over half a million projects that are complete or in progress.

“California is proud of how we’ve invested billions of cap-and-trade dollars across the state over the last decade,” said CARB Chair Liane Randolph. “From individual incentives for cleaner cars and water-efficient appliances, to forest health programs that help safeguard communities from wildfire, these programs provide benefits to all Californians. In addition, cap-and-trade has also delivered $15 billion in bill credits back to utility customers. It’s climate policy that pays.”

Project funding already on the ground is expected to wipe out emissions equivalent to taking more than 80% of the state’s gas cars off the road for a year, with billions of dollars more in the process of being disbursed. Examples of investments include:

• Tribal land stewardship and wildfire resilience in the North Coast.
• Workforce development for zero-emission vehicle careers in Fresno.
• A composting effort supporting migrant and refugee farmers in West Sacramento.