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    HomeEnvironmentClimate ChangeAs it enters its eleventh year, California’s cap-and-trade program continues to raise...

    As it enters its eleventh year, California’s cap-and-trade program continues to raise revenue to fight the climate crisis

    This blog was co-authored by Katelyn Roedner Sutter, California State Director 

    Results of the latest Western Climate Initiative auction were released today, and we continue to see strong demand for allowances. This was the first quarterly auction of 2024, and it was a strong start for this marquee climate program.

    This auction is expected to generate roughly $1.31 billion for the Greenhouse Gas Reduction Fund, which will invest in projects around the state that electrify transportation, reduce household energy costs, strengthen resilience to natural disasters, and more. This funding comes at a crucial time, as California faces both ongoing impacts from climate change and a challenging budget year.

    February auction results

    • All 51.2 million current vintage allowances offered for sale were purchased, resulting in the 14th consecutive sold-out auction. This is 11% or 6.4 million fewer…

    Read the full article originally published at blogs.edf.org.

    Environmental Defense Fund
    Environmental Defense Fundhttps://www.edf.org
    Environmental Defense Fund (EDF) is a nonprofit environmental advocacy group that works on issues including global warming, ecosystem restoration, oceans, and human health, and advocates using sound science, economics and law to find environmental solutions that work.
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