In The News: “Sacramento’s favorite feedbag is drying up” — POLITICO

Clean and Prosperous California Executive Director Clayton Munnings was quoted in a POLITICO California Climate newsletter after California’s first quarterly cap-and-trade auction of the year settled at $29.27 per ton, raising $850 million as opposed to $1.1 billion at the same time last year to fund everything from wildfire mitigation to utility bill rebates to high-speed rail.

Munnings attributed much of the price weakness to delays in CARB’s long-promised rulemaking to tighten allowance supply, estimating the state has forgone roughly $800 million over the past year due to uncertainty-driven market jitters.

Read the newsletter from POLITICO: https://www.politico.com/newsletters/california-climate/2025/02/26/sacramentos-favorite-feedbag-is-drying-up-00206371.