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auctionproceeds -- Release of Revised Draft Cap-and-Trade Auction Proceeds: Funding Guidelines for Agencies that Administer California Climate Invest

Posted: 04 Sep 2015 16:53:11
The Air Resources Board (ARB or Board) announces the release of
the Revised Draft Cap-and-Trade Auction Proceeds:  Funding
Guidelines for Agencies that Administer California Climate
Investments.   These Funding Guidelines consist of three volumes
focused on:  accountability and transparency; maximizing benefits
to disadvantaged communities; and reporting to document
greenhouse gas (GHG) reductions, co-benefits, and other project
outcomes.  The Board will hear public testimony and consider
approval of the Funding Guidelines at a public hearing on
September 24-25, 2015.

To download a copy of the Revised Draft Funding Guidelines,
please visit: 
http://www.arb.ca.gov/cc/capandtrade/auctionproceeds/fundingguidelines.htm.

Comments on the Revised Draft Funding Guidelines may be submitted
electronically no later than 5:00 pm, on September 21, 2015.  At
least ten days prior to the Board Hearing, the Board comment log
will be available at: 
http://www.arb.ca.gov/lispub/comm/bclist.php

Ten days prior to the Board Hearing, the public agenda will be
available at:  http://www.arb.ca.gov/board/ma/2015/ma092415.pdf.

For additional information on auction proceeds, please visit: 
www.arb.ca.gov/auctionproceeds.

BACKGROUND:

AB 32, the California Global Warming Solutions Act of 2006
(Assembly Bill 32 (AB 32); Nunez, Chapter 488, Statutes of 2006)
is a comprehensive, multi-year program to reduce greenhouse gas
emissions in California.  ARB has adopted a Scoping Plan and,
together with other State and local agencies, has developed and
implemented numerous regulations and programs, including the
Cap-and-Trade Program to reduce emissions to meet AB 32 goals.

The State’s proceeds from Cap-and-Trade auctions are deposited in
the Greenhouse Gas Reduction Fund (GGRF) and are used to fund
California Climate Investments.  SB 1018 and other statutes
require these investments to facilitate the achievement of GHG
emission reductions and further the purposes of AB 32.  Each
year, the Governor and Legislature determine which State agencies
and programs will receive appropriations from the GGRF to invest
in projects that reduce greenhouse gases.  State law requires ARB
to develop Funding Guidelines for all State agencies that receive
appropriations, including guidance on reporting, quantification
methods, and maximizing benefits to disadvantaged communities. 
To comply with this law, ARB has developed Funding Guidelines to
help these agencies use their appropriations in a way that
reduces greenhouse gases, furthers the purposes of AB 32,
maximizes benefits to disadvantaged communities, and meets the
other statutory requirements.



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