What you need to know: The California Air Resources Board released a new report showing the state’s Cap-and-Invest program has generated $36.2 billion for climate investments, $15.5 billion of which have been implemented through over 600,000 projects. SACRAMENTO — The California Air Resources Board (CARB) today released the 2026 Annual Report to the Legislature on California Climate Investments, detailing how the state’s Cap-and-Invest Program has generated billions of dollars to fight climate change and deliver on-the-ground benefits for communities across California. California Climate Investments funds a clean ride-share service in Stockton provided by Miocar, which also provides the service in other California communities. From there, the Legislature appropriates funding to California Climate Investments programs which state agencies design and administer to produce climate, health, economic, and environmental benefits statewide. With a strong focus on communities most impacted by pollution and limited access to resources, California Climate Investments helps build a more equitable, sustainable future—where all Californians can share in the benefits of climate action.