The latest reforms to California’s Cap and Invest program are the most consequential in years, and the outcomes will shape the state’s climate trajectory through 2045. In this webinar, environmental leaders, academics, and carbon market experts will walk through key elements under negotiation, including reforms to the offsets program, potential linkage to Washington, the changes in the number of allowances in circulation, and the Manufacturing Decarbonization Incentive (MDI) and its potential impact on the state’s primary source for climate funding — the Greenhouse Gas Reduction Fund (GGRF).
Decision-makers at the California Air Resources Board (CARB), the agency that oversees Cap and Invest, have given industry stakeholders far too much influence over the new regulations, putting funding for longstanding climate programs at risk. Throughout the discussion, we’ll return to the central question that should be guiding these rulemaking processes: how can California maintain climate integrity while balancing economic and political pressures on the program?
Speakers
Paul Mason is the Vice President of Policy & Incentives at the Pacific Forest Trust. For nearly 25 years he has been a leading advocate on natural resource issues in Sacramento where he serves as a regular advisor to policymakers and partner organizations. Since 2017 he has organized diverse coalitions to build consensus and political support for policy changes in California to improve landscape resilience to wildfire and other climate stressors.
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Shana Lazerow is Legal Co-Director at Communities for a Better Environment (CBE). CBE combines community organizing, research / policy and legal advocacy to empower low-income communities of color around environmental justice, including energy and climate justice. Under her co-direction, CBE’s legal department received the prestigious California Lawyers Association 2025 Trailblazer Award for its innovative and impactful work.
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Danny Cullenward is an economist and lawyer focused on the scientific integrity of climate policy. He is the co-author of Making Climate Policy Work (with David G. Victor), a book about the political economy of carbon markets. Dr. Cullenward is a Senior Fellow with the Kleinman Center for Energy Policy at the University of Pennsylvania, a Senior Fellow with the Institute for Responsible Carbon Removal at American University, and the Vice Chair of California’s Independent Emissions Market Advisory Committee. He previously held research and teaching appointments at UC Berkeley, Lawrence Berkeley National Laboratory, the Carnegie Institution for Science, and Stanford University. He earned his JD and PhD in Environment and Resources from Stanford University.
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Chloe Ames is a Climate Policy Advisor at NextGen Policy. Her policy areas of focus include climate and clean energy planning and deployment, with an emphasis on Cap-and-Invest program implementation. Her work focuses on building a resilient, equitable, and thriving California in the face of existing and future climate impacts.
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Baani joined The Climate Center in June of 2022 as the Drawdown Initiative Manager. In this role, she leads the organization’s work on advancing nature-based carbon sequestration solutions to fight the climate crisis while protecting our natural lands and delivering a multitude of co-benefits for both the environment and affected communities. She also leads the organization’s efforts in policies addressing the emergent mechanical carbon dioxide removal market. Prior to The Climate Center, Baani worked as a consultant with the Community Alliance with Family Farmers where she assisted small and mid-scale farmers with funding opportunities to remain operational during emergencies like drought, wildfire, and the pandemic.
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Allison joined The Climate Center in January of 2025 as the Legislative Manager. In this role, she works closely with the initiative leaders and other staff to ensure California implements policies that effectively reduce climate pollution and secure resilient communities. Allison is The Climate Center’s voice in Sacramento, representing the organization to advocate and build coalitions and partnerships to support The Climate Center’s goals and secure a climate-safe future for all.
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