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Expand chart
Reproduced from California Energy Policy Simulator; Chart: Axios Visuals

A new analysis finds that California is not on track to meet its 2030 greenhouse gas reduction targets absent new and toughened clean energy policies.

Why it matters: California has many of the nation's most aggressive programs, so the results shows the difficulty of achieving steep state-level cuts in that state and others adopting ambitious climate targets.

  • California also matters a lot because it's the world's fifth-largest economy and its emissions are the second-largest among U.S. states behind Texas.

But, but, but: The research firm Energy Innovation also lays out ideas for making the state's programs tougher in order to meet the target — changes the authors say would yield billions of dollars in economic and health benefits.

The big picture: The analysis — based on a state-specific version of the firm's "energy policy simulator" — shows that the state's existing policies and trends will drive down emissions but fall short of California's statutory target of 40% below 1990 levels by 2030.

What they found: The half-dozen policy recommendations include...

  • Changing the state's cap-and-trade program to make minimum pollution permit prices rise faster if emissions cuts aren't on pace for the 2030 target.
  • Boosting the state's zero-emissions vehicles goal to 7.5 million on the roads by 2030, up from the current 5 million target.
  • Creating a zero-emissions performance standard for industrial heating systems.

The bottom line: "California’s policymakers have a challenging job, working at the forefront of global climate action. In effect, they are inventing a sophisticated climate policy machine without obvious precedent," it states.

  • The study was funded by the nonprofit Aspen Global Change Institute.

Go deeper ... Climate change: California cities look to ban natural gas

Go deeper

Janet Yellen is back

Photo illustration: Sarah Grillo/Axios. Photo: Hannelore Foerster/Getty Images

A face familiar to Wall Street is back as a central player that this time will need to steer the country out of a deep economic crisis.

Driving the news: President-elect Joe Biden is preparing to nominate former Fed chair Janet Yellen to be Treasury secretary.

Mike Allen, author of AM
31 mins ago - Politics & Policy

Charles Koch: "I screwed up"

In his first on-camera interview in four years, Charles Koch told "Axios on HBO" that he "screwed up by being partisan," rather than approaching his network's big-spending political action in a more nonpartisan way.

Why it matters: Koch — chairman and CEO of Koch Industries, which Forbes yesterday designated as America's largest private company — has been the left's favorite face of big-spending political action.

Caitlin Owens, author of Vitals
2 hours ago - Health

What overwhelmed hospitals look like

A healthcare professional suits up to enter a COVID-19 patient's room in the ICU at Van Wert County Hospital in Ohio. Photo: Megan Jelinger/AFP

Utah doctors are doing what they say is the equivalent of rationing care. Intensive care beds in Minnesota are nearly full. And the country overall continues to break hospitalization records — all as millions of Americans travel to spend Thanksgiving with friends and family.

Why it matters: America's health care workers are exhausted, and the sickest coronavirus patients aren't receiving the kind of care that could make the difference between living and dying.