March 2, 2023 - This post summarizes the Cap-and-Trade Expenditure Plan and Greenhouse Gas Reduction Fund revenue estimates.
February 12, 2025 - In this brief, we assess the Governor’s cap-and-trade expenditure plan for 2025-26 and provide associated recommendations.
March 30, 2023 - Presented to: Senate Budget and Fiscal Review Subcommittee No. 2 on Resources, Environmental Protection and Energy
January 25, 2022 - In this post, we describe the Governor's cap-and-trade expenditure plan, evaluate the revenue assumptions used to determine the amount of funding available, and identify issues for legislative consideration.
April 30, 2025 - Assembly Budget Subcommittee No. 4 on Climate Crisis, Resources, Energy and Transportation
December 6, 2021 - Revenue from quarterly cap‑and‑trade auctions is deposited in the Greenhouse Gas Reduction Fund (GGRF), and the funds are allocated to various climate‑related programs. In this post, we (1) summarize the results from the recent November 2021 cap‑and‑trade auction, (2) estimate future GGRF revenue and the amount available for discretionary spending under three different scenarios, and (3) identify issues for legislative consideration as it begins its 2022‑23 budget deliberations.
February 14, 2018 - In this report, we assess many of the Governor’s budget proposals in the resources and environmental protection areas and recommend various changes. Below, we summarize our major findings and recommendations. We provide a complete listing of our recommendations at the end of this report.
May 7, 2025 - This report is intended to help inform legislative decision-making around reauthorization of the cap-and-trade program. It is submitted pursuant to Chapter 135 of 2017 (AB 398, Garcia), which requires our office to report annually on the economic impacts and benefits of the state’s greenhouse gas emissions reduction targets.
February 13, 2024 - Presented to: Senate Environmental Quality Committee Senate Budget and Fiscal Review Subcommittee No. 2 on Resources, Environmental Protection and Energy
May 19, 2025 - Describes and comments on the Governor's May Revision proposals for reauthorizing the cap-and-trade program and spending Greenhouse Gas Reduction Fund revenues.
February 13, 2020 - This report assesses the Governor’s major 2020-21 budget proposals related to climate change. The four proposals we evaluate are the Governor's (1) cap-and-trade expenditure plan ($965 million), (2) expanded climate adaptation research and technical assistance activities ($25 million), (3) new Climate Catalyst loan fund ($250 million), and (4) climate bond ($4.75 billion).
February 22, 2023 -
This report describes the Governor’s proposed budget solutions within climate, resources, and environmental programs, and provides the Legislature with a framework and suggestions for how it might modify those proposals to better reflect its priorities and prepare to address a potentially larger budget problem.
Correction (4/27/23): The amounts in Figure 1 for Wildfire and Forest Resilience and Nature-Based Activities and Extreme Heat have been corrected.