California cap and trade prevented 1,100 early deaths, report says

By Anne C. Mulkern | 05/12/2025 06:58 AM EDT

The program has generated $13 billion over a decade to fund projects that reduce pollution, improve public health and cut travel costs.

Smog fills the air in Los Angeles.

Smog fills the air in Los Angeles in 2024. California's cap-and-trade program has spent $13 billion on climate and pollution improvements. Andy Bao/AP

California has averted nearly 1,000 premature cardiopulmonary deaths and nearly 3,000 cases of childhood asthma through environmental projects funded by the state cap-and-trade emissions program, a new report says.

Since its launch in 2013, the cap-and-trade program has raised $13 billion for projects that have improved public health, protected against wildfires and increased renewable energy generation, according to the California Air Resources Board, the state regulatory body that wrote the report.

But the agency warns that the projects — called California Climate Investments — face a treacherous future as the Trump administration “is trying to tear down California’s authority to address harmful pollution.”

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“The path forward is paved with major challenges,” the agency, known as CARB, said in its annual report on climate investments.

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