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California extends cap-and-invest program to 2045 to cut emissions and fund climate projects.
California Governor Gavin Newsom has extended the state's cap-and-trade program, now called "cap and invest," through 2045 to help achieve carbon neutrality.
The program requires major polluters to reduce emissions, buy allowances, or fund offset projects, with proceeds funding climate initiatives, affordable housing, transportation, and utility bill credits.
The extension aligns with California’s climate goals and comes amid efforts to stabilize energy costs, expand renewable energy sharing with Washington State, and replenish the wildfire fund.
While praised for advancing climate action, the program faces criticism for potentially raising gas prices and not fully addressing local air pollution.
California extiende el programa de cap-and-invest hasta 2045 para reducir las emisiones y financiar proyectos climáticos.