Action Item: Urge Phillip Ting to Save Transit
Covering San Francisco's livable streets movement
Stay updated with breaking news from Trade Auction. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
Covering San Francisco's livable streets movement
SACRAMENTO — California today released its annual report for California Climate Investments, which highlights that 74% of investments from 2022 — almost $1 billion — supported communities and households facing greater economic and environmental challenges.
In this post, we describe the Governor's cap-and-trade expenditure plan, evaluate the revenue assumptions used to determine the amount of funding available, and identify issues for legislative consideration.
Revenue from quarterly cap‑and‑trade auctions is deposited in the Greenhouse Gas Reduction Fund (GGRF), and the funds are allocated to various climate‑related programs. In this post, we (1) summarize the results from the recent November 2021 cap‑and‑trade auction, (2) estimate future GGRF revenue and the amount available for discretionary spending under three different scenarios, and (3) identify issues for legislative consideration as it begins its 2022‑23 budget deliberations.