This page last reviewed Auguest 22, 2016

Cap-and-Trade Auction Proceeds Triennial Investment Plan

To guide the investment of Cap-and-Trade auction proceeds, the Department of Finance, in consultation with the Air Resources Board and other State agencies (Administration), is required to submit a triennial Investment Plan to the Legislature. The Investment Plan identifies priority investments that will help California achieve its greenhouse gas (GHG) emission reduction goals while realizing additional health, economic, and environmental benefits.


The Investment Plan is required to identify near-term and long-term greenhouse gas emission reduction goals and targets, analyze gaps in current State funding for meeting these goals, and identify priority investments that facilitate GHG emission reductions. It is important to note that inclusion of a recommended investment in the Investment Plan does not guarantee funding.

Second Investment Plan for Fiscal Years 2016-17 through 2018-19

The Second Investment Plan for Fiscal Years 2016-17 through 2018-19 was submitted to the Legislature in January 2016. The Second Investment Plan identifies potential State investment priorities to help achieve GHG emission reduction goals, benefit disadvantaged communities, and yield valuable co-benefits within the Transportation & Sustainable Communities, Clean Energy & Energy Efficiency, and the Natural Resources and Waste Diversion categories.

Public Hearing (December)

A preceding version of the Second Investment Plan was presented at the Board Hearing held on December 17, 2015.

Archived Activities (Summer/Fall 2015)

Draft Second Investment Plan (October – November)

The Administration developed the Draft Second Investment Plan based on the concepts presented in the Concept Paper for the Second Investment Plan and the feedback and public input received during the August 2015 workshops (including subsequent written comments). The Draft Second Investment Plan was presented at three workshops held in early November 2015.

Concept Paper (July – September)

The Administration began the process of developing the Draft Second Investment Plan with a series of workshops held throughout the State in early August 2015.

First Investment Plan for Fiscal Years 2013-14 through 2015-16

The First Investment Plan for Fiscal Years 2013-14 through 2015-16 was submitted to the Legislature in May 2013.

To receive electronic notices of meetings and materials, you can sign up for the Auction Proceeds listserve.
To receive electronic notices of meetings and materials, you can sign up for the Auction Proceeds Email List.

For questions on the program, please contact:
Melissa Niederreiter at 916-323-6576 or via e-mail