The 2019 Annual Report to the Legislature on California Climate Investments Using Cap-and-Trade Auction Proceeds details how cap-and-trade investments are reducing climate-changing emissions while pumping money into local economies and improving public health and the environment across the state — especially in disadvantaged and low-income communities.
Nearly $1.4 billion in new funding last year went to projects across all of California’s 58 counties, almost double the $720 million spent in 2017. Projects ranged from creating more fire-resilient communities and ecosystems to installing water-efficient irrigation systems on farms to building more affordable housing and new public transit lines.
To date, $9.3 billion in cap-and-trade proceeds has been appropriated to 20 state agencies that have distributed $3.4 billion to projects that are either completed or under way across the state. These “implemented” funds have leveraged an additional $10.8 billion from other sources.
Detailed data are available on the California Air Resources Board (CARB) website, including the program information and specific project location, GHG reductions, and benefits to disadvantaged communities for implemented projects.