California unveils plan to reach carbon neutrality by 2045
California unveils plan to reach carbon neutrality by 2045
California unveils plan to reach carbon neutrality by 2045
California is one of the first states to announce a comprehensive plan for climate change reduction and it is hoping to inspire other states to join it. The plan, released on Tuesday by California’s Governor, Jerry Brown, is called the “California 2030 Climate Action Plan for Sustainability”.
The plan has three major initiatives: a target for limiting cumulative emissions of carbon dioxide to 10 percent below the levels of 1990; a new set of standards to improve the efficiency of residential, commercial, and industrial buildings, and other buildings; and a plan to establish a new national system of carbon fees and taxes.
The Governor’s goal for the state is to reduce greenhouse gas (GHG) emissions to 26 percent below 1990 levels by 2045, which is expected to require an investment by the state of $40 billion by 2025.
State officials plan to use financial incentives, including the state’s cap-and-trade cap-and-price program and a market-based carbon fee that is expected to be $16.5 billion over ten years, to encourage buildings to improve their energy and water efficiency and make investments in renewable energy generation and energy storage.
As part of the plan, California will provide annual grants to the Energy Commission (EC) for the purpose of increasing public and private participation in energy efficiency and renewable energy programs.
In addition, the EC will create a Community Development and Sustainability Fund (CDSF) to address low-carbon emissions programs in low- and moderate-income communities. CDSF funding is expected to provide $16 million a year for a ten-year period.
“The plan sets out a clear goal and specific approaches that will allow California to meet our commitment to climate resiliency, while enabling the state to invest more strategically in a clean energy future and in people, places, and institutions that will make our transition to a clean energy economy a success,” said Governor Brown.
California, the largest US jurisdiction with respect to per-capita electricity use,