Governor Gavin Newsom announced that California is moving towards a major expansion of its pioneering carbon market, deepened cooperation with Australia and signed a new Memorandum of Understanding (MOU) with Finland on economic partnership and development during Climate Week NYC.
Speaking at the North America Climate Summit hosted by the International Emissions Trading Association, Newsom joined Dr. Champa Patel, Executive Director for Governments and Policy at Climate Group, for a fireside conversation where he announced California's move towards linking its carbon market with Washington State. The state said linking its program with other jurisdictions can make it stronger and more durable while expanding opportunities for industries to reduce emissions more cost-effectively.
"California is showing Donald Trump and his administration what it looks like to lead one of the largest economies in the world, and build economic opportunity and security," Newsom said. "By working with partners across the country and around the world, we can build a future that is more affordable, more secure, and more prosperous."
California's Cap-and-Invest program, now thirteen years old, has generated $37 billion in climate investments, supported 143,000 jobs and cut millions of tons of carbon emissions. This summer, Newsom delivered $886 million in utility-bill relief through the California Climate Credit, with millions of households receiving an average $75 credit on their electricity bills. The program is expected to generate $10 billion in electric bill credits between now and 2030.
Newsom also met with Australian Ambassador to the United States Greg Moriarty and officials from Australia's Department of Climate Change, Energy, the Environment and Water to discuss expanding collaboration on energy security, affordability, climate resilience, battery storage, zero-emission transportation and emerging technologies. The leaders discussed Australia's COP31 priorities. The two have partnered through a 2023 MOU covering grid innovation, energy storage, water-quality monitoring and critical-minerals research.
The new California-Finland partnership, signed with Finnish Foreign Minister Elina Valtonen, creates a framework for collaboration on clean technology and sustainability, aerospace and defense innovation, health and life sciences, emerging technologies, quantum computing, cybersecurity, research and sustainable forest bioeconomy.
"California and Finland are global leaders in innovation, sustainability, and the industries shaping the future," said Dee Dee Myers, Director of the Governor's Office of Business and Economic Development. "This new partnership will help deepen economic cooperation and create new opportunities to advance clean energy, emerging technologies, and sustainable growth."
"Finland is proud to partner with a state that shares our ambition to develop solutions for the future," said Elina Valtonen, Minister for Foreign Affairs of Finland. "This partnership deepens cooperation between Finland and California, creates new economic opportunities, and strengthens collaboration and dialogue on innovation and emerging technologies across the Atlantic."
At the United Nations, Newsom called out Donald Trump for abandoning America's responsibility to confront the climate crisis, joining local and regional leaders at the Secretary-General's High-level Event on Climate Action and the Just Transition. As the highest-ranking U.S. voice on the panel, he highlighted California's record of pairing climate action with economic growth. He appeared alongside Freetown Mayor Aki-Sawyerr, Boston Mayor Michelle Wu, Western Cape Premier Alan Winde and former Paris Mayor Anne Hidalgo.
Since Newsom took office in 2019, California has added more than 37,000 megawatts of utility-scale clean and renewable energy, with battery storage growing from fewer than 700 MW to more than 21,000 MW. The state leads the nation in clean energy jobs with 552,300 workers, according to a 2025 report from E2.