Cap-and-Trade funds yet another green project by auctioning permissible pollution permits
(The Center Square) – “California is enlisting our working lands to fight climate change, support local economies, and combat urban sprawl,” said Governor Gavin Newsom when announcing Round 9 of funding of the Sustainable Agricultural Lands Conservation Program.
The program supports agricultural land conservation, economic growth, and sustainable development by providing grants for three types of projects: Land Use Planning grants that support the development of local and regional land use policies and economic development strategies; Agricultural Conservation Acquisition grants to permanently protect croplands, rangelands, and lands utilized for the cultivation of traditional resources from conversion to non-agricultural uses and Capacity and Project Development grants to expand organizational capacity to develop agricultural conservation acquisition projects.
The total amount available in this round will be determined later this year, but the April 27 announcement by The California Strategic Growth Council and the Department of Conservation means the Cap-and-Trade funding is forthcoming.
The Governor’s budget assumes cap‑and‑trade auction revenue estimated at $2.3 billion collected in 2022‑23, and an almost $1 billion proposed discretionary spending fund to go to existing programs, including incentives for zero‑emission vehicles (ZEVs) and programs to reduce local air pollution, the Legislative Analyst’s Office reports.
Cap-and-Trade is a practice whereby the government auctions a limited number of annual permits that allow companies to generate a specified amount of pollutants that increase global warming. Companies that use less of their allowance can sell their credits to higher polluting industries. Those that exceed their allowance can be taxed for doing so.
These “grants are available for projects that develop plans to protect agricultural lands or to conserve such lands directly by acquiring agricultural conservation easements or purchasing land outright for conservation. The program also provides grants to support the capacity of local organizations to develop agricultural conservation projects,” a statement by the governor’s office revealed.
“Across the state, we’ve conserved thousands of acres of agricultural land under this program, and will continue to support a wide range of innovative projects to reduce emissions and protect our communities,” Newsom said.
California Native American tribes, farmers and ranchers who are U.S. Military Veterans, and farmers and ranchers who live in disadvantaged communities or low-income communities or households or just starting in the farming /ranching business are given priority funding from the program.
