Cap-and-Trade Regional Analysis
Measures to reduce air pollution and improve the state’s air quality are critically important as California’s population rate continues to grow. The State of California invested more than $870 million in Greenhouse Gas Reduction Funds (GGRF) in budget year 2014-15, and will invest $900 million in budget year 2016-17. The Sacramento Capital Region is one of many regions across the state competing to win GGRF dollars for local programs that reduce greenhouse gas emissions (GHGs).
What is the goal?
The goal is to acquire the funds necessary and proportionate for the Capital Region to implement programs that reduce GHG emissions and help address environmental justice and social disparity issues.
Why is this important?
This is important work because the Capital Region needs programs and infrastructure to meet state standards for carbon reduction efforts, which provide additional co-benefits such as improved air quality and public health. To do so, our region must offer competitive, effective applications to funding agencies in order to successfully compete and win project funding.
It is critical that proactive steps are taken in the Capital Region to ensure that needed investments are made to develop and advance projects capable of delivering GHG emission reductions at funding levels commensurate with the region’s population needs.
What is Valley Vision doing about it?
Valley Vision is conducting analysis to compare the amount of GGRF investment in regions across the state and assess how the Capital Region performed in statewide competition and/or distribution of funds.
What is our desired impact?
To increase the Capital Region’s share of state Cap-and-trade investment in order to reduce the region’s greenhouse gases (GHG), especially in underserved communities. This analysis demonstrates areas of underinvestment within the Capital Region and provides recommend actions for improved outcomes in future cycles of GGRF award opportunities.
How does this effort affect triple-bottom-line objectives?
Economy: Cap-and-trade programs impact the economic health of the region by bolstering clean economy activities and supporting job growth and innovation.
Environment: The effort to reduce carbon emissions also impacts the environmental health of the region through improved air quality and public health outcomes.
Equity: Cap-and-trade funds will invest in historically under-invested neighborhoods by targeting disadvantaged communities where residents are considered socially vulnerable and at higher risk of environmental harms.
Valley Vision completed a report analyzing the results of regional GGRF investments for budget year 2014-2015 and will update the analysis for budget year 2016-2017.
Valley Vision formed a stakeholder group of more than 90 participants in 2014 to support the early stages of strategic planning and regional coordination for initial rounds of Cap & Trade funding.
A report analyzing the results of regional GGRF investments for budget year 2014-2015 was completed, demonstrating areas of underinvestment within the Capital region and providing recommend actions for improved outcomes in future cycles of GGRF.
Analysis will be updated for budget year 2016-2017.
Valley Vision, regional Air Quality Management Districts, SACOG, SMUD, Nehemiah Corporation, Breathe CA, Capitol Corridor JPA, regional City and County jurisdictions, Sacramento Housing and Redevelopment Agency, Sacramento Regional Transit, Sacramento Tree Foundation, Ubuntu Green, Yolo County Transportation District, San Joaquin Valley JPA + many more and growing
Sacramento Metropolitan Air Quality Management District, Sacramento Metropolitan Utility District (SMUD) and Nehemiah Corporation.