Gov. Newsom promotes Cap and-Invest program at UN climate events

NEW YORK —

Gov. Gavin Newsom attended the United Nations General Assembly and Climate Week events in New York on Tuesday, where he promoted California’s cap-and-invest program, which requires companies operating in the state to either cap their emissions or fund state infrastructure and climate projects.

Because of the program, the average Californian will see about a $75 credit on their electricity bills for this past month and the upcoming month.

“I’m most proud of, and it’s a point the commissioner was referencing earlier, is now a very aggressive focus on costs and affordability, which is, to me, the issue beyond the invasive species Donald Trump,” Newsom said. “The issue of cost, and that issue, if we don’t address it in this space, it will come at our peril. And so we have, notably by extending the cap-and-invest program to 2045, have also enshrined a commitment of close to $60 billion of utility rebates.”

The program has faced pushback, as Californians have already been paying skyrocketing electricity prices, partly due to the state’s clean air goals.

Newsom ended his remarks by teasing that he will announce a new partnership for the cap and invest program today.