California's signature climate effort is up for renewal

California’s signature climate program, cap-and-trade, is set to expire in 2030.

Gov. Gavin Newsom wants to extend the program to 2045, but critics say it needs reforms.

Significant greenhouse gas emissions reductions and billions of dollars in revenue are at stake.

As California pushes toward its ambitious goals for addressing climate change, the fate of its signature program is hanging in the balance. For months, lawmakers, industry groups and environmental advocates have been mired in negotiations over whether and how to extend the cap-and-trade program , which limits planet-warming emissions, beyond its 2030 expiration date.

The cap-and-trade program was nation-leading when it was authorized by state law in 2006. It requires major polluters such as power plants, oil refineries an