Right now, California lawmakers have an opportunity to secure a more affordable and livable future for us all through climate-smart policies. Our work here is more urgent than ever: the state faces an estimated $12 billion deficit and the law- and science-denying administration in D.C. is hellbent on destroying 55 years of environmental protection and climate progress.
Corporate polluters and utilities are emboldened by the new administration, spending more than ever to lobby the state legislature while continuing to rake in enormous profits.
Like many of you, I feel the pain of this “profit at any cost” strategy every time I open my electricity bill. That’s because corporate utilities like PG&E are guaranteed a generous rate of return for building expensive infrastructure projects and they pass those project costs on to you and me as ratepayers.
Similarly, polluting oil and gas companies enjoy huge profits while leaving taxpayers on the hook for billions of dollars in climate damages. Meanwhile, they are receiving financial benefits from the state including roughly $890 million per year in free allowances to keep polluting through California’s Cap and Trade program, which I wrote about this week in an op-ed for Capitol Weekly.
We don’t have to accept these corporate giveaways. Three critical policies can help ensure that corporate utilities and polluters pay their fair share:
- End billions of dollars in polluter giveaways every year through California’s Cap and Trade Program. Those giveaways are robbing the state and taxpayers of revenue that funds critical climate work — including wildfire prevention, clean energy infrastructure, and other investments that benefit Californians. In addition, the program should provide direct rebates to working-class and low-income Californians to help them cope with rising energy costs.
- Pass the Polluters Pay Climate Superfund Act — introduced as SB 684 (Menjivar) in the Senate and AB 1243 (Addis) in the Assembly — to ensure that polluters pay their fair share for recovery from climate disasters and for investments in climate solutions, from local clean energy to climate-friendly agriculture.
- Enact AB 740 (Harabedian) to accelerate the use of virtual power plants (VPPs), networks of local energy resources like smart thermostats, home batteries, and electric vehicles. A recent study found that VPPs can reduce the need for new power plants and upgrades for poles and wires, saving California taxpayers $550 million per year.
I’m tired of our hard-earned dollars flowing to wealthy, corporate polluters. If you haven’t already, join me in urging lawmakers to pass AB 740, pass the Polluters Pay Climate Superfund Act, and end massive polluter giveaways in California’s Cap and Trade Program.
This blog first appeared in The Climate Center’s bi-weekly newsletter. To keep up with the latest climate news and ways to take action for a climate-safe future, subscribe today!
