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Epoch Times
12-05-2025
- Business
- Epoch Times
California's Cap-and-Trade Program Generated $33 Billion Since 2006
California's cap-and-trade program, which aims to cut greenhouse-gas emissions by imposing fees on the state's energy and fuel providers, has raised The California Air Resources Board (CARB) released 'California must continue to lead on reducing pollution and ensuring our climate dollars benefit all residents,' said Newsom, Senate President pro tempore Mike McGuire, and Assembly Speaker Robert Rivas in an The statement was a response to an Trump has accused some states, including California, of forcing businesses to pay for carbon use. His order directs the Department of Justice to identify energy and climate-related state laws 'that are or may be unconstitutional, preempted by Federal law, or otherwise unenforceable.' California's cap-and-trade is among those to be Related Stories 11/11/2024 10/9/2023 'Americans are better off when the United States is energy dominant,' Trump said in the order. 'American energy dominance is threatened when State and local governments seek to regulate energy beyond their constitutional or statutory authorities.' California has a goal of achieving carbon neutrality by 2045. The cap-and-trade program is considered key to meeting that goal, but it is set to expire in 2030 after an extension in 2017. It requires another extension by the state Legislature. Newsom has included an extension for the program in his According to Newsom, cap-and-trade is the state's leading climate program, holding 'carbon polluters accountable by charging them for emitting more carbon pollution than allowed.' The funds raised are used for state projects and programs that help clean the air, protect public health, reduce reliance on fossil fuels, conserve nature, and more, according to his office. The fees are paid to the state by electricity suppliers, natural gas utilities, and fuel distributors, with the costs passed down to consumers in the form of higher gas prices and utility rates. The fees allow the state to give climate credits applied twice a year to residents' utility bills. These utility credits have amounted to $15 billion, said CARB Chair Liane Randolph. The program also funded CARB's 2025 California Climate Investments Annual Report found that in 2024 alone, the state invested $1.9 billion in nearly 12,000 new projects. California Gov. Gavin Newsom speaks before other governors, mayors, and civic and faith leaders from around the globe at the Vatican Climate Summit on May 16, 2024. Office of Governor Gavin Newsom The investments are a key part of Newsom's 'California is proving that cutting pollution creates jobs and boosts communities,' Newsom said in a statement. 'By holding polluters accountable, we're sending billions of dollars back to communities and back to people's wallets through credits on utility bills. And we've got the receipts: healthier and cleaner communities and thousands of good paying jobs.' If the program is extended, project funding is expected to pay for several programs, including tribal land stewardship and wildfire resilience in the Northern California coast, workforce development of zero-emission vehicle careers in Fresno, and a composting effort supporting migrant and refugee farmers in West Sacramento, according to CARB. Jane Yang contributed to this report.
Boston Globe
23-04-2025
- Business
- Boston Globe
UMass President Marty Meehan focuses on climate tech in his latest address
The $4 billion legislation, the Healey administration says, represents a $1 billion investment in climate-tech over 10 years — though not all of that money is in the actual bill. Mass Leads includes $200 million over a decade in bond authorizations for offshore wind farm infrastructure, $200 million for other capital grants to help companies and nonprofits research or commercialize climate technologies, and up to $30 million a year for tax incentives for clean-tech firms that add jobs (totaling another $300 million). The administration counts another $30 million a year to support the quasi-public Massachusetts Clean Energy Center toward the total; those funds come from the state's operating budget, which needs legislative approval each year. 'UMass ... will be the engine that drives the state's economic ambitions, as we've been for 160 years,' Meehan said in the address. Advertisement Meehan talked about some specific efforts that are already underway: climate resiliency research at UMass Boston's Stone Living Lab, UMass Dartmouth's work on sustainable fisheries, and water treatment and purification research at UMass Amherst. He also mentioned the importance of global partnerships, singling out the Clean Energy & Environment Legacy Transition Initiative that UMass Lowell and Boston University are working on with university partners in Ireland, as well as UMass Boston chancellor Marcelo Suárez-Orozco's efforts with the Vatican Climate Summit last year. In an interview, Meehan said he believes it's important for UMass to put its research and teaching efforts to work to help with the state's economic development priorities. That includes researching innovative climate solutions and preparing a workforce for the new jobs that will open up. 'There's no question that the federal government is trying to take us back with regard to climate change,' Meehan said. '[But] I would argue that climate change is the existential threat of our time. ... Our goal is to position UMass to be the partner of choice for state government, the private sector in Massachusetts, and also globally. This is an installment of our weekly Bold Types column about the movers and shakers on Boston's business scene. Jon Chesto can be reached at
CBS News
21-04-2025
- Politics
- CBS News
California Gov. Gavin Newsom mourns death of Pope Francis: "He championed human dignity"
SACRAMENTO – California Gov. Gavin Newsom says he is mourning after the passing of Pope Francis. The Vatican announced Pope Francis' death early Monday morning. He was 88. In a statement released Monday, Newsom recalled Pope Francis' social justice work. "He championed human dignity, especially that of the poor, called the world to urgent climate action, condemned the death penalty, and confronted painful truths — including the Church's role in the genocide of Indigenous peoples," Newsom stated. In 2024, Newsom joined Pope Francis at the Vatican and spoke at the Vatican Climate Summit. "His papacy was characterized by moral courage, a profound respect for all creation, and a deep conviction in the transformative power of love to heal and unite," Newsom stated. Newsom grew up Catholic and attended Santa Clara University, a Jesuit institution, but seldom mentions his faith.
