California Landscape of Climate Finance

The Climate Policy Initiative (CPI) developed a beta version of a climate finance landscape for California, analyzing public and private investments from 2019 to 2022 and estimating future investment needs to meet the state's 2045 climate goals.

• California requires an annual average of USD 62 billion from 2023 to 2035 to meet its climate goals, with zero-emission vehicles accounting for half of these investments. After 2035, the annual average need increases to USD 79 billion, primarily driven by a higher uptake of zero-emission vehicles.
• In 2022, CPI tracked USD 39 billion in climate finance spending, which covers 63% of the state's annual needs through 2035. Between 2019 and 2022, climate finance grew at an annual rate of 26%, with the majority of this growth originating from the private sector.
• Transport is the primary destination sector for both public and private tracked finance. While climate finance is distributed relatively evenly per capita by county, it is not currently channeled at a higher rate to areas with worse historical and current pollution metrics, based on CalEnviroScreen scores.
• CPI identifies specific bottleneck technologies requiring targeted funding through 2035, including USD 44 million per year for electric vehicle charging and USD 1.1 billion per year for renewable energy transmission.

APA

Climate Policy Initiative (2024). California Landscape of Climate Finance. https://www.climatepolicyinitiative.org/publication/california-landscape-of-climate-finance/

Chicago

Climate Policy Initiative. California Landscape of Climate Finance. 2024. https://www.climatepolicyinitiative.org/publication/california-landscape-of-climate-finance/.

Wikipedia

{{cite report |author=Climate Policy Initiative |title=California Landscape of Climate Finance |date=29 January 2024 |url=https://www.climatepolicyinitiative.org/publication/california-landscape-of-climate-finance/ |access-date=17 August 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{climatepolicyinitiative2024california, author = {{Climate Policy Initiative}}, title = {{California Landscape of Climate Finance}}, institution = {Climate Policy Initiative}, year = {2024}, month = jan, url = {https://www.climatepolicyinitiative.org/publication/california-landscape-of-climate-finance/}, urldate = {2026-08-17}, note = {Indexed by Climate Insights Directory} }