April 16, 2022
Weideman Group Weekly
California’s Climate Investments
California has released
an annual report showing the state’s total investment of
$10.5 billion in projects funded by the Cap-and-Trade program
were expected to reduce emissions by 76 million metric tons.
Between December 2020 to November 2021, more than 75,000 new
California Climate Investments projects were launched with more
than $1 billion in funding directed to projects in disadvantaged
communities. Projects include planting more than 170,000 trees in
urban areas, funding more than 850 transit projects that expand
or add bus and rail service, and having conserved or restored
more than 720,000 acres of land. The program has raised a total
of $19.2 billion to reduce greenhouse gas emissions since it
began in 2013.
Renewable Energy Milestone
California hit a significant milestone on April 3rd when 97% of electricity on the grid was produced by renewables. California has been a leader in making investments to achieve a carbon neutral grid. Renewable peaks typically occur in the spring, due to mild temperatures and the sun angle allowing for an extended window of strong solar production.
The California Air Resources Board has released a proposal to increase the sale of electric vehicles to 35% over the next 4 years. This comes as a result of Governor Newsom’s 2020 executive order directing the state to require that by 2035 all new cars and passenger trucks sold in California be zero-emission vehicles. The proposal will undergo a robust stakeholder process and will ultimately need to be approved by the United States Environmental Protection Agency. This announcement, in conjunction with other proposals and investments to increase zero emission vehicle charging stations, are part of the state’s vision to reduce greenhouse gas emissions.
LA Mayor’s Race
Newcomer to the race to replace Eric Garcetti as Mayor of Los Angeles, developer Rick Caruso, is shaking things up. A recent poll by the LA Times and UC Berkeley shows Caruso in a virtual dead heat with U.S. Rep. Karen Bass. 24% of likely voters support Caruso while 23% support Bass. While close, 40% of Angelinos are still undecided on who they will be voting for. Councilmember and former California Senate leader Kevin De León is polling at 6%.