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arbcombo -- Release of Interim SB 535 Guidance on Cap-and-Trade Auction Proceeds: Investments to Benefit Disadvantaged Communities

Posted: 05 Nov 2014 09:31:35
The Air Resources Board (ARB or Board) announces the release of
Interim SB 535 Guidance Cap-and-Trade Auction Proceeds:
Investments to Benefit Disadvantaged Communities.   This Guidance
contains approaches that agencies can use to maximize the
benefits of investment in those communities.  The Guidance also
includes criteria that agencies will use to determine whether
their investments are located within or provide benefits to
disadvantaged communities.  A draft version of the Guidance was
approved by the Board during a public hearing on September 18,
2014.  The document being released today reflects the Board’s
minor revisions from that hearing.

To download a copy of the Interim SB 535 Guidance, please visit:
http://www.arb.ca.gov/cc/capandtrade/auctionproceeds/final535-interim-guidance-11-3-2014.pdf


For additional information on auction proceeds, please visit:
www.arb.ca.gov/auctionproceeds 

BACKGROUND:

AB 32, the California Global Warming Solutions Act of 2006
(Assembly Bill 32 (AB 32); Nunez, Chapter 488, Statutes of 2006)
is a comprehensive, multi-year program to reduce greenhouse gas
(GHG) emissions in California.  ARB has adopted a Scoping Plan
and, together with other State and local agencies, has developed
and implemented numerous regulations and programs, including the
Cap-and-Trade Program to reduce emissions to meet AB 32 goals.
 
Any expenditure of State proceeds from the Cap-and-Trade auctions
must comply with legislative requirements.  Senate Bill (SB) 535
(De León, Chapter 830, Statute of 2012) requires that 25 percent
of the proceeds be invested in projects that benefit
disadvantaged communities and at least 10 percent be invested in
projects located within those communities.  State law also
directs ARB to develop guidance for State agencies on approaches
to maximize benefits to disadvantaged communities.

SB 535 requires the Secretary for Environmental Protection
(CalEPA) to identify disadvantaged communities for investment of
Cap-and-Trade auction proceeds.  On October 31, 2014, CalEPA
identified disadvantaged communities using the tool
CalEnviroScreen Version 2.0 which ranks communities based on
numerous indicators that reflect pollution burdens and population
characteristics - the highest scores indicate the greatest
impact.  For the purposes of auction proceeds investments, CalEPA
identified the top 25% of census tracts as disadvantaged
communities.  Detailed information is available at:
http://oehha.ca.gov/ej/ces2.html. 



California is in a drought emergency.
Visit www.SaveOurH2O.org for water conservation tips.

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