Skip to content
CapRadio

CapRadio

listen live donate
listen live donate
listen live
donate
  • News
    • News

    • State Government
    • Environment
    • Health Care
    • Race and Equity
    • Business
    • Arts and Lifestyle
    • Food and Sustainability
    • PolitiFact California
    News
    • News

    • State Government
    • Environment
    • Health Care
    • Race and Equity
    • Business
    • Arts and Lifestyle
    • Food and Sustainability
    • PolitiFact California
  • Music
    • Music

    • Classical
    • Jazz
    • Eclectic

    • Daily Playlist
    Music
    • Music

    • Classical
    • Jazz
    • Eclectic

    • Daily Playlist
  • Podcasts & Shows
  • Schedules
  • Events
  • Support
    • Support
    • Ways to support
    • Evergreen Donation
    • One-Time Donation
    • Corporate Sponsorship
    • Vehicle Donation
    • Stock Giving
    • Legacy Giving
    • Endowment Support
    • Members
    • Member Benefits
    • Member FAQ
    • Member Newsletter

    • Fund drives
    • Drawing Winners
    • Thank You Gifts
    Support
    • Support
    • Ways to support
    • Evergreen Donation
    • One-Time Donation
    • Corporate Sponsorship
    • Vehicle Donation
    • Stock Giving
    • Legacy Giving
    • Endowment Support
    • Members
    • Member Benefits
    • Member FAQ
    • Member Newsletter

    • Fund drives
    • Drawing Winners
    • Thank You Gifts
  • About
  • Close Menu
 We Get Support From:
Become a Supporter 
 We Get Support From:
Become a Supporter 
  • State Government
  • Environment
  •  

Latest Cap-And-Trade Auction Generates Just $8 Million

  •  Amy Quinton 
Tuesday, August 23, 2016 | Sacramento, CA
  

California’s latest cap-and-trade auction will generate just $8 million, according to the Legislative Analyst's Office. That’s a weaker auction than one in May, which generated $10 million. 

The results of last week’s auction were released Tuesday.

"We know that the last couple of auctions have been not what we wanted them to be," says Democratic Assembly Speaker Anthony Rendon. "We're trying to let people know that we're dedicated to battling climate change in California and that what this program has done for the economy that it's going continue to do so for quite some time."

Rendon says the auction results will help lawmakers decide how to allocate $1.3 billion dollars of unspent auction proceeds to programs that reduce greenhouse gases. 

“We wanted to make sure that we knew what we were dealing with. We wanted to make sure that the results from last Thursday’s auction that they were included into the equation and now we’re ready to move forward so we’re going to do that as soon as possible," says Rendon.

Auctions held before May of this year have all generated over $500 million dollars.

California requires companies that produce climate-changing pollution to buy pollution permits. They are auctioned quarterly and used to routinely generate hundreds of millions of dollars for the state.


Follow us for more stories like this

CapRadio provides a trusted source of news because of you.  As a nonprofit organization, donations from people like you sustain the journalism that allows us to discover stories that are important to our audience. If you believe in what we do and support our mission, please donate today.

Donate Today  

    Related Stories

  • California Lawmakers Mull Cap-And-Trade Spending

    Thursday, August 18, 2016
    California lawmakers are discussing how to spend cap-and-trade auction proceeds that have been accumulating since the last fiscal year.

 cap and tradeclimate changeAB 32Greenhouse Gas Emissions

Amy Quinton

Former Environment Reporter

Amy came to Sacramento from New Hampshire Public Radio (NHPR) where she was Environment Reporter. Amy has also reported for NPR member stations WFAE in Charlotte, WAMU in Washington D.C. and American Public Media's "Marketplace."  Read Full Bio 

Sign up for ReCap and never miss the top stories

Delivered to your inbox every Friday.

 

Check out a sample ReCap newsletter.

Thanks for subscribing!

Thank you for signing up for the ReCap newsletter! We'll send you an email each Friday with the top stories from CapRadio.

Browse all newsletters

More State Government Stories

Martin do Nascimento / CalMatters

Rules for thee: How California Legislature skirts its own laws

February 7, 2023

Andrew Nixon / CapRadio

California announces plan to convert 3 office buildings in downtown Sacramento into housing

January 31, 2023

Aaron Kehoe/AP

Backed by Newsom, California Democrats revive changes to state concealed carry law

February 1, 2023

Most Viewed

How a new law is bringing more attention to natural carbon sequestration

10 new California laws that go into effect in 2023

In Turkey and Syria, outdated building methods all but assured disaster from a quake

California ends plans for kids’ Covid vaccine mandate

Still testing positive after day 10? How to decide when to end your COVID isolation

We Get Support From:
Become a Supporter

Most Viewed

How a new law is bringing more attention to natural carbon sequestration

10 new California laws that go into effect in 2023

In Turkey and Syria, outdated building methods all but assured disaster from a quake

California ends plans for kids’ Covid vaccine mandate

Still testing positive after day 10? How to decide when to end your COVID isolation

Back to Top

  • CapRadio

    7055 Folsom Boulevard
    Sacramento, CA 95826-2625

    •  
      (916) 278-8900
    •  
      (877) 480-5900
    •  Contact / Feedback
    •  Submit a News Tip
  • About

    • Mission / Vision / Core Values
    • Stations & Coverage Map
    • Careers & Internships
    • Staff Directory
    • Board of Directors
    • Press
  • Listening Options

    • Mobile Apps
    • Smart Speakers
    • Podcasts & Shows
    • On-Air Schedules
    • Daily Playlist
    • Signal Status
  • Connect

    •  Facebook
    •  Twitter
    •  Instagram
    •  YouTube
  • Donate

  • Listen Live

  • Newsletters

CapRadio stations are licensed to California State University, Sacramento. © 2023, Capital Public Radio. All Rights Reserved. Privacy Policy | Website Feedback FCC Public Files: KXJZ KKTO KUOP KQNC KXPR KXSR KXJS. For assistance accessing our public files, please call 916-278-8900 or email us.