California Climate Investments Investment Plan
To guide the investment of Cap-and-Trade auction proceeds, the Department of Finance, in consultation with the California Air Resources Board (CARB) and other State agencies (Administration), is required to submit an Investment Plan to the Legislature every three years. The Investment Plan identifies priority investments that will help California achieve its greenhouse gas (GHG) emission reduction goals while realizing additional health, economic, and environmental benefits. Priority investment types identified in the Investment Plan do not guarantee funding but rather provide guidance to the Legislature on potential funding opportunities.
Fourth Investment Plan for Fiscal Years 2022-23 through 2024-25
CARB is pleased to announce the development of the Fourth Investment Plan for Fiscal Years 2022-23 through 2024-25, which is due to the Legislature in January 2022. Over the course of 2021, CARB will work with the Department of Finance, the Administration, and interested stakeholders to identify potential priority investments to recommend in the Investment Plan.
- Late Summer: Release Draft Fourth Investment Plan for public comment
- Early Fall: Public workshop to discuss Draft Fourth Investment Plan
- Late Fall: Informational update to CARB Board
- January 2022: Final Fourth Investment Plan transmitted to the Legislature
August 2021 Update
CARB is planning a virtual workshop to discuss the Draft Fourth Investment Plan on September 2nd, 2021. Please see the workshop notice below for more information on how to participate and be sure to subscribe to our listserv to receive updates. The Draft Fourth Investment Plan will be released for public comment prior to the workshop. If you have any questions about the upcoming workshop or Draft Fourth Investment Plan, we encourage you to email us at: firstname.lastname@example.org.
February 2021 Update
CARB held the first public workshop on the Investment Plan on February 23, 2021 from 3:30 to 5:00 PM. Please see the recording below.
- Agenda (español)
- Presentation (Presentación)
- Workshop Notice (Aviso del taller)
- Event Flyer (Folleto del evento)
Third Investment Plan for Fiscal Years 2019-20 through 2021-22
The Third Investment Plan identifies future investment priorities and strategies to expand the scope and reach of the existing California Climate Investments programs. Priorities include continued focus on GHG emission reductions, increased community-level projects and participation, greater funding certainty to allow longer-term planning, and an increased emphasis on additional economic, environmental, and public health benefits.
- Third Investment Plan
- Tercer Plan de Inversión
- Department of Finance Letter to the Joint Legislative Budget Committee
CARB took public comments on the Revised Draft Third Investment Plan at the Board hearing on November 16, 2018.
The Draft Third Investment Plan was presented at two public workshops on September 4-5, 2018 in Fresno and Los Angeles.
Second Investment Plan for Fiscal Years 2016-2017 through 2018-2019
The Second Investment Plan for Fiscal Years 2016-17 through 2018-19 was submitted to the Legislature in January 2016. The Second Investment Plan identifies potential State investment priorities to help achieve GHG emission reduction goals, benefit disadvantaged communities, and yield valuable co-benefits within the Transportation & Sustainable Communities, Clean Energy & Energy Efficiency, and the Natural Resources and Waste Diversion categories.
CARB took public comments on the Revised Draft Second Investment Plan at the Board Hearing on December 17, 2015.
The Draft Second Investment Plan was presented at three workshops held in early November 2015.
CARB held series of public workshops in August 2015 to receive input on a Concept Paper for the Second Investment Plan Agencies Administering California Climate Investments.
First Investment Plan for Fiscal Years 2013-2014 through 2015-2016
The First Investment Plan for Fiscal Years 2013-14 through 2015-16 was submitted to the Legislature in May 2013. CARB held a public hearing on April 25, 2013.