The GGRF is one of the most foundational sources of climate investment we have seen in California to-date. It had implemented $11.4 billion through the end of May 2022. Cumulatively, 567,000 projects have reduced GHG emissions by an estimated 78.6 million metric tons of carbon dioxide equivalent (MMTCO2e).77 It has also resulted in 763,587 acres of land preserved or restored, and 851 transit agency projects funded. However, as we can see over the years, many of these agencies stopped receiving GGRF funds or received less from the last fiscal year because it is the nature of a cap-and-trade program fund like the GGRF to decrease over time.
77 “2022 Mid-Year Data Update.” California Climate Investments. Available at: https://ww2.arb.ca.gov/sites/default/files/auction-proceeds/cci_2022_mydu_cumulativeoutcomes.pdf
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