CalChamber and CMTA Comment on May 21 Carbon Auction Results and the Need to Reauthorize California’s Cap-and-Trade Program
Contact:
John Myers, CalChamber
john.myers@calchamber.com
Lance Hastings, CMTA
lhastings@cmta.net
(May 30, 2025) Sacramento, CA – On Thursday, the California Air Resources Board released the results of the May 21 quarterly sale of carbon emissions credits, showing prices substantially below where they were for the last quarterly auction in February.
CalChamber and the California Manufacturers & Technology Association released the following comment in response to those results:
“California’s carbon market is at a crossroads.
“The most recent auction of emissions credits was a clear sign that the unsettled fate of the state’s cap-and-trade program, a historic call to arms in addressing the existential environmental dangers of climate change, is fueling a growing sense of economic uncertainty.
“Businesses make long-term decisions on how to invest their capital based on costs. CalChamber and its partners are urging the Legislature to take action and authorize a simple, ‘clean’ extension of the cap-and-trade program through 2045.
“The longer the landmark program’s future remains in limbo, the harder it becomes for business and regulators alike to know how the carbon market will affect the state’s economic and environmental bottom line.”
About CalChamber
The California Chamber of Commerce (CalChamber) is the largest broad-based business advocate to government in California. Membership represents one-quarter of the private sector jobs in California and includes firms of all sizes and companies from every industry within the state. Leveraging our front-line knowledge of laws and regulations, we provide products and services to help businesses comply with both federal and state law. CalChamber, a not-for-profit organization with roots dating to 1890, promotes international trade and investment in order to stimulate California’s economy and create jobs. Please visit our website at www.calchamber.com.