To guide the investment of Cap-and-Trade auction proceeds, the Department of Finance, in consultation with CARB and other State agencies, 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 climate, environmental, economic, and equity goals. Investment recommendations identified in the Investment Plan do not guarantee funding but rather provide guidance to the Legislature on potential funding opportunities.
Fifth Investment Plan Development
CARB staff are launching the process to develop the Fifth Triennial Investment Plan for Fiscal Years 2025-26 through 2027-28, and we recently hosted our first public workshop on February 15, 2024, from 3:00PM to 4:30PM. Workshop materials can be accessed here.
Contact Us!
We welcome your comments and ideas whether you are new to California Climate Investments or have received project funding in the past, and look forward to getting your perspective on the future of climate investments.
Who may be interested in providing input on the future of California Climate Investments?
We welcome feedback from interested individual applicants and grantees, businesses, and farmers, as well as feedback from organizations, including nonprofits and community-based organizations, Tribes and local governments, and agencies that administer California Climate Investments programs. We are also always glad to hear from individuals or organizations from any background, especially those working on projects that advance California’s climate, environmental, economic, and equity goals, as well as from members of communities that could benefit from California Climate Investments projects.
Contact us with your comments, ideas, or questions about the Fifth Investment Plan using the form below:
Previous Investment Plans
There have been four previous triennial investment plans, covering Fiscal Years 2013-14 to 2024-25. These Investment Plans identify priority investments that can 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 Plans 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
The Cap-and-Trade Auction Proceeds Fourth Investment Plan (Fourth Investment Plan) for Fiscal Years 2022-23 through 2024-25 was submitted to the Legislature in January 2022. The Fourth Investment Plan includes six recommendations designed to guide the investment of Cap-and-Trade auction proceeds in a way that accelerates greenhouse gas emission reductions, supports a carbon-neutral future, and achieves the state’s interconnected climate, environmental, equity, public health, and economic goals.
For more information on the public participation process for the Fourth Investment Plan, see the CARB Investment Plan webpage.
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.
For more information on the public participation process for the Third Investment Plan, see the CARB Investment Plan webpage.
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.
For more information on the public participation process for the Second Investment Plan, see the CARB Investment Plan webpage.
First Investment Plan (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.
For more information on the public participation process for the First Investment Plan, see the CARB Investment Plan webpage.
Contact us to learn more and share your ideas!