Over 40 organizations echo findings from Clean and Prosperous California

Sacramento, CA – A group of over 40 companies, business associations, nonprofit organizations, and investors issued a letter today calling for the state to strengthen its cap-and-trade program. The letter cites Clean and Prosperous California’s recent report, Money Left on the Table, and fact sheet synthesizing the scientific literature on the program.

The letter reads:

“As leading companies, business associations, nonprofit organizations, and investors committed to a clean and prosperous economy, we write to express our strong support for two swift actions to strengthen California’s Cap-and-Trade Program:

1. The legislature acts as soon as possible to extend the cap-and-trade program through at least 2045.

2. The California Air Resources Board (CARB) resumes its rulemaking immediately thereafter.

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. 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 smartest 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 California legislature should act as soon as possible to extend the Cap-and-Trade program this legislative session.”