California Analysts Urge Lawmakers: Reject Gov. Newsom’s $1 Billion Climate Loan Proposal
Nonpartisan policy analysts took aim Thursday at Gov. Gavin Newsom’s proposal to use $1 billion in state funds to seed innovative climate change efforts, questioning the state’s ability to even identify the right projects.
The Climate Catalyst Loan Fund, which Newsom called for in his $222.2 budget proposal for next year, would offer low-interest loans to public and private projects that would otherwise struggle to attract venture capital money or bank loans — particularly those intended to combat climate impacts of recycling, transportation, agriculture, and forestry sectors.
