Cap & Trade Auction Revenue Expenditure Funding and Implementation of SB 375

Darrell Steinberg, Former President Pro Tem, California State Senate
Gail Goldberg, Executive Director, Urban Land Institute-Los Angeles
Jonathan Parfrey, Executive Director, Climate Resolve
Lauren Faber, West Coast Political Director, Environmental Defense Fund
Jim Wunderman, President and CEO, Bay Area Council
Tanya Peacock, Environmental Policy Manager, Southern California Gas Company 

Passed in 2008, SB 375 directed the Air Resources Board to set regional targets aligned with the greenhouse gas emissions reduction goals for cars and light trucks under AB 32. This fiscal year, the market is expected to generate $1 billion in revenues, which will fund projects ranging from transit, to high-speed rail, to affordable housing. However, how are these revenues going to be spent within California’s MPOs? With these policy-guided market forces spurring innovation and investments in clean energy, what opportunities are arising from the implementation of SB 375? Looking beyond 2020, what are some prospects for the development and growth of related industries?


Cap and Trade Auction