The California utility, Pacific Gas & Electric Co., is purchasing 214,000 metric tons of greenhouse gas emissions reductions at a price of roughly $2 million on behalf of 17,500 of its customers who participated in its Climate Smart program.
The purchase is the largest investment to date of verifiable greenhouse gas emissions reductions, certified by the California Climate Action Registry, using criteria approved by the California Air Resources Board, a state government agency.
Climate Smart participants elected to pay an average of $5 per month extra on their bills, which is being used to fund restoration and management of two California forests, which will trap emissions that are roughly equivalent to taking 40,000 cars off the road for a year.
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