California Air Resources Board approves overhaul of cap-and-invest climate program amid criticism

Summary

California's Air Resources Board voted 10-3 to approve a major overhaul of the state's cap-and-invest climate program, a decision that will shape emissions reduction efforts and the flow of billions of dollars in revenue across communities and businesses. The program, which launched in 2013 as a national leader, forces major polluters to pay for their emissions. Critics argue the updated version represents a retreat from California's climate ambitions.