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The California Air Resources Board (CARB) adopted late last week updates to the state’s Cap-and-Invest Program, which were proposed earlier this year. Following the Legislature’s enactment last year of laws extending California’s Cap-and-Invest Program through 2045, CARB proposed the updates adopted today to balance legislative direction, affordability, jobs and near-term economic concerns while also ensuring emissions reductions and providing a long-term signal for the market. The adopted changes maintain California’s path toward meeting its 2030 and 2045 climate targets “while supporting affordability for Californians by managing costs and maintaining a clear long-term signal for clean energy investment in the state.”*

“At a moment when climate policy is under attack and global economic upheaval is creating real uncertainty, this rule-making is critically important for California,” said CARB Chair Lauren Sanchez. “California has both an opportunity and a responsibility to lead with consistency. By moving forward today, we are responding to real affordability concerns while sending a clear and unwavering signal to the world that we remain committed to long-term investment in clean energy, good jobs, and healthier communities.” Continue reading →