By Viji Sundaram, New America Media.
The revenue generated from California’s 2006 global warming law (AB 32) is making the air cleaner, saving families money and bringing green jobs to some of the state’s most disadvantaged communities.
The Greenlining Institute evaluated 10 of the projects that were funded in fiscal year 2015 through polluter fees generated by the cap-and-trade law. It requires California to reduce its greenhouse gas emissions to 1990 levels by the year 2020.
To achieve this target, the California Air Resources Board put a cap on the amount of air pollution that an industrial plant can produce, and requires it to pay a penalty when it exceeds its limits by purchasing “credits.”