California has lost up to $3B in cap-and-trade revenue over past year: Report

California Losing $3 Billion a Year Over Cap and Trade Auctions – California Globe

California’s Cap and Trade program experienced yet another setback on Monday when a new Clean and Prosperous California report found that the state lost $3 billion in revenue over the past year – Or roughly about 1/4th of California’s current budget deficit. As the California Globe has previously explained: “California’s cap-and-trade program places a ‘cap’ on aggregate greenhouse gas emissions from businesses and utilities deemed “polluters” by…

California lost $3B by delaying cap-and-trade overhaul, report says

A delay in strengthening the California program caused the state to take in less money for climate projects, a climate advocacy group says.

California has lost up to $3B in cap-and-trade revenue over past year: Report

California may have lost up to $3 billion in potential revenue from a signature emissions reduction program over the past year, a new report has found. The Golden State’s cap-and-trade program — a system that sets emissions caps and distributes tradable credits within that framework — has incurred these losses in response to weak auction results, according to the report published Monday by nonprofit research group Clean and Prosperous California…

Report: Cap-and-trade program down by $3 billion

California may have lost up to $3 billion in potential revenue from its cap-and-trade program over the past year. The report, published by nonprofit research group Clean and Prosperous California, attributes the losses to weak auction results stemming from a plunge in allowance prices. Driving the news: Allowance prices have dropped from an all-time high of $42 per metric ton of carbon dioxide emitted to near-historic lows of $26 per metric ton.…

E&E News: California lost $3B by delaying cap-and-trade overhaul, report says

A delay in strengthening the California program caused the state to take in less money for climate projects, a climate advocacy group says.