Statement on Cap and Trade Auction Results

Wednesday, March 01, 2017

SACRAMENTO – California Senate President pro Tempore Kevin de León (D-Los Angeles) issued the following statement in reaction to today’s quarterly cap and trade auction results:

“Today’s anemic auction results demonstrate that the state’s landmark cap and trade program is in need of reform and the kind of market certainty that only the Legislature and Governor can provide via statute. We need a program that both reduces pollution and provides stable funding to clean up climate emissions.

“The program is not producing stable revenues for important priorities like increased transit and other clean transportation investments.  According to California Environmental Protection Agency, it may not even be achieving pollution reduction in disadvantaged communities, when that should be our utmost priority.

“The Legislature has set the 2030 climate target. We have directed our agencies to pursue aggressive new clean energy, energy efficiency, and transportation electrification targets under SB 350. Our work is not done, especially now that our nation’s capital is abdicating climate leadership.

“I look forward to working with our colleagues in the legislative branch and with the Governor to ensure California continues to be a shining beacon on climate and clean energy policy throughout the world.”