California air regulators update a key climate program, sparking pushback from environmentalists
The overhaul removes 118 million allowances by 2030 and could cut annual climate revenue by about $2 billion, according to the Legislative Analyst's Office.
- The California Air Resources Board voted 10-3 to overhaul the state's cap-and-invest program, tightening pollution limits while reshaping how billions in climate revenue flow through communities and industry.
- Regulators pursued these changes to align with state climate mandates requiring emissions cuts of 40% below 1990 levels by 2030, while attempting to prevent major refineries from exiting the state.
- A new Manufacturing Decarbonization Incentive provides 118 million allowances, allowing the state to distribute up to roughly $3.5 billion in free permits to companies investing in decarbonization projects.
- While Western States Petroleum Association CEO Jodie Muller stated the updates move the state in the right direction, environmental advocates warn the changes slash auction revenue by about $2 billion annually.
- Pending further review, the board agreed Friday to pause issuing these incentives until the agency's executive officer reports back with proposed amendments, addressing concerns about the program's long-term effectiveness.
29 Articles
29 Articles
California overhauls carbon market — critics say it's a giveaway to oil
California air regulators on Friday approved a contentious overhaul of the state’s carbon market, creating a program that could steer billions of dollars in free pollution permits to oil refineries and other major polluters over the objections of environmental groups, key lawmakers and three of the board’s own members. Ten members of the California Air Resources Board voted to adopt the changes to its cap-and-invest program after two days of len…
Associated Press News
California air regulators update a key climate program, sparking pushback from environmentalists
California air regulators have updated a key climate program Friday. The program, known as cap and trade, sets a declining limit on total planet-warming emissions in the state from major polluters.
California updated its Cap-and-Invest program to maintain the reduction of polluting emissions, boost climate investments and protect the state's economy through 2045.
Palo Alto Online
California overhauls carbon market — critics say it’s a giveaway to oil
This story was originally published by CalMatters. Sign up for their newsletters. California air regulators on Friday approved a contentious overhaul of the state’s carbon market, creating a program that could steer billions of dollars in free pollution permits to oil refineries and other major polluters over the objections of environmental groups, key lawmakers and […]
California air regulators update a key climate program, sparking pushback from environmentalists – UK Times
The latest headlines from our reporters across the US sent straight to your inbox each weekday Your briefing on the latest headlines from across the US Your briefing on the latest headlines from across the US California air regulators updated the rules of a key climate program on Friday in a move widely protested by environmental groups who said the changes would weaken the program and undercut efforts to curb planet-warming emissions. The oil i…
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