California Looks to Extend Its Cap-and-Trade Program Among Other Climate Policies

California Looks to Extend Its Cap-and-Trade Program Among Other Climate Policies

California Governor Gavin Newsom proposed a 15-year extension of California’s cap-and-trade system for greenhouse gases, which has been a revenue generator for the state. His proposal would reauthorize the state’s quarterly auction of emissions permits, as well as change the way some of the proceeds are spent. He plans to shift a proportion of revenue to fighting wildfires and to fund the state’s high-speed rail project. This project has been in…