The RNG Coalition and Phillips 66 on Aug. 20 joined more than 40 other businesses, associations and nonprofits in urging the California legislature to extend the state’s Cap-and-Trade Program before the end of the legislative session on Sept. 12.&nbsp;California’s Cap-and-Trade Program was first established by legislation signed in 2006. The program officially launched in 2012, was reauthorized in 2017, and is currently set to expire in 2030.&nbsp;The Cap-and-Trade Program, administered by the California Air Resources Board, establishes a declining limit on major sources of greenhouse gas (GHG) emissions and creates an economic incentive for polluters to invest in cleaner, more efficient technologies and energy. According to CARB, emissions reductions achieved under other programs, such as the Renewables Portfolio Standard and Low Carbon Fuel Standard, count as compliance with the Cap-and-Trade Program.California Gov. Gavin Newsom, California Senate President pro Tempore Mike McGuire and California Assembly Speaker Robert Rivas in April announced they would seen an extension of the Cap-and-Trade Program during the current legislative year.&nbsp;As Newsom noted in his&nbsp;<a href="https://mclist.us7.list-manage.com/track/click?u=afffa58af0d1d42fee9a20e55&amp;id=b4f0811985&amp;e=0b26ba1b5c">proposed budget</a>, extending the program this year can provide the market with greater certainty, attract stable investment, further California’s climate leadership and set the state on a clear path to achieve its 2045 carbon-neutrality goal.CARB in May released a report that shows nearly $33 billion has been raised to fund climate solutions in communities across California from the state’s Cap-and-Trade Program. In 2024 alone, approximately $1.9 billion was invested in nearly 12,000 new projects.The RNG Coalition, Phillips 66 and dozens of other companies, groups and nonprofits on Aug. 20 sent a letter to leaders in the California legislature calling on lawmakers to extend the Cap-and-Trade Program through at least 2045.“Uncertainty about the Cap-and-Trade Program is harming California by foregoing revenues that would have otherwise been used to lower utility bills for ratepayers and directly invest into communities,” the groups wrote.&nbsp;“We support a strengthened Cap-and-Trade Program because restored program certainty will further drive clean investments into California and uphold the state as a global economic powerhouse.“Doubling down on California’s successful Cap-and-Trade Program is the smarted way to tackle the climate crisis by prioritizing cost-effective achievement of California’s climate targets, making California more affordable, and supporting California communities,” the groups continued.&nbsp;A full copy of the letter is available on the Ceres <a href="https://ceres.my.salesforce.com/sfc/p/#A0000000ZqYY/a/V4000002utNF/vW3elLUEc546u3RVtXNbdjMfXi_f2br1ZWWS3_iV.fo">website</a>.

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The RNG Coalition and Phillips 66 on Aug. 20 joined more than 40 other businesses, associations and nonprofits in urging the California legislature to extend the state’s Cap-and-Trade Program before the end of the legislative session on Sept. 12. 

RNG Coalition, Phillips 66 join call to extend California’s Cap-and-Trade Program

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