Confidence instilled by AB 398 already generating revenues for CA communities
(SACRAMENTO, CA) – Assemblymember Eduardo Garcia, (D-Coachella) Chairman of the Joint Legislative Committee on Climate Change Policies (JLCCCP) and Ex Officio Member of the California Air Resources Board (CARB) has released the following statement regarding today’s soaring cap-and-trade auction results:
“It is exciting to see that the latest cap-and-trade auction has been met with such dynamic results. Today’s auction sold out at a rate far surpassing the floor price established by the California Air Resources Board. These encouraging results are a great indication of the market’s positive response to our work with AB 398, which extended the cap-and-trade program. I am thrilled that our dedicated efforts to ensure program stability have already begun to generate significant revenues that will soon make their way to reap immeasurable economic and public health benefits within Californian communities, like those in my District, most impacted by pollution.”
“As the Legislature considers the 2017-18 Cap-and-Trade Expenditure Plan this week, I hope that the confidence instilled by this strong auction performance will embolden my colleagues to join me in supporting important investments into innovative job creation and emission reduction programs.”
For more information on the August 2017 Cap-and-Trade Joint Auction #12: https://www.arb.ca.gov/newsrel/newsrelease.php?id=949
