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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. California is in a drought emergency. Visit www.SaveOurH2O.org for water conservation tips.