California Air Resources Board to Vote on Key Clean Air Program Amid Economic Concerns
California Air Resources Board tries to balance gas prices, climate goals with upcoming vote | CA Politics 360
Image: Kcra
The California Air Resources Board (CARB) is set to vote on updates to its 'cap and invest' program, aimed at reducing greenhouse gas emissions while addressing economic concerns. The proposed changes include allowing more allowances for oil refiners and allocating funds to lower utility costs, amidst criticism from environmental groups about potential setbacks to climate goals.
- 01The 'cap and invest' program aims for carbon neutrality in California by 2045, requiring companies to limit emissions or buy allowances.
- 02Recent updates allow for more allowances for oil refiners until 2030, responding to industry concerns about economic viability.
- 03$10 billion from the program will be used to reduce utility costs, with an additional $800 million for compliance support for various industries.
- 04CARB Chair Lauren Sanchez emphasizes the need to balance environmental goals with economic affordability amid public and industry feedback.
- 05The program's updates come as California lawmakers reassess the state's climate goals, with upcoming gubernatorial candidates expressing intentions to review these targets.
Advertisement
In-Article Ad
The California Air Resources Board (CARB) is poised to vote on crucial updates to its 'cap and invest' program, which is designed to cut greenhouse gas emissions and achieve carbon neutrality by 2045. This program mandates that companies either limit their carbon emissions or purchase allowances to emit carbon, with funds generated being allocated to various state infrastructure and climate projects. Following significant public feedback, CARB has adjusted its original proposal to permit a greater number of allowances for oil refiners, addressing concerns from the industry about potential economic collapse. The updated plan includes allocating $10 billion to help reduce utility bills and $800 million to assist businesses in complying with the new regulations. CARB Chair Lauren Sanchez acknowledged the geopolitical challenges, particularly regarding fuel imports amid ongoing conflicts, and reiterated the board's commitment to ambitious climate goals while ensuring economic viability. The updates come at a time when state lawmakers and gubernatorial candidates are reconsidering California's climate objectives, highlighting the ongoing tension between environmental aspirations and economic realities.
Advertisement
In-Article Ad
The updates to the 'cap and invest' program will directly affect utility costs for consumers and compliance costs for businesses, impacting economic stability in California.
Advertisement
In-Article Ad
Reader Poll
How should California balance climate goals with economic concerns?
Connecting to poll...
More about California Air Resources Board
Read the original article
Visit the source for the complete story.