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.
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.
#cap-and-trade #climate-change #california-climate-investments #sustainability #greenhouse-gas-emissions
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