California’s Cap-and-Trade Program Generated $33 Billion Since 2006

Fees collected from polluters pay for greenhouse gas reduction programs and other climate-friendly projects. But the program needs an extension.

An electric Audi SUV charges at a public station in Los Angeles on May 16, 2024. Patrick T. Fallon/AFP via Getty Images

California’s cap-and-trade program, which aims to cut greenhouse-gas emissions by imposing fees on the state’s energy and fuel providers, has raised $33 billion since its inception in 2006, according to Gov. Gavin Newsom.

The California Air Resources Board (CARB) released a report on May 7 detailing the money collected through the program as Newsom and the Democratic Legislature seek an extension for it.