CARB doubles factory decarbonization fund in cap-and-invest overhaul

California Air Resources Board: CARB adopted updates to the state's Cap-and-Invest Program May 29, doubling the Manufacturing Decarbonization Incentive Fund from $2 billion to $4 billion. Eligible manufacturers — food processors, cement plants and refiners — can tap the fund for emissions-reducing facility upgrades that lower future compliance costs. The board also approved roughly $800 million in added compliance support for industry and tightened allowance budgets through 2045, removing 118 million allowances and setting an 11% annual cap decline this decade. The updates take effect September 1.