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Newsom extends cap-and-trade program aimed at curbing carbon emissions
State

Newsom extends cap-and-trade program aimed at curbing carbon emissions

  • By SOPHIE AUSTIN Associated Press

California Gov. Gavin Newsom has signed a bill extending the state's cap-and-trade program through 2045. The program sets a declining limit on total planet-warming emissions in the state from major polluters. The new law potentially boosts carbon-removal projects and requires the program to align with California's target of achieving so-called carbon neutrality by 2045. Newsom also signed laws to speed up permitting for oil production in Kern County, refill a fund that covers the cost of wildfire damage when utility equipment sparks a blaze and allow the state's grid operator to partner with a regional group to manage power markets in western states.