California began operating a cap-and-trade program in 2013, and as of 2022, it is one of the largest emissions trading systems in the world. The ambitious program aimed to reduce greenhouse gas emissions to 1990 levels by 2020 (a goal that was met in 2016), and now aims to reduce the emissions by 40% below 1990 levels by 2030, and 80% below 1990 levels by 2050. California also has additional goals of achieving 100% carbon-free electricity by 2045 and economy-wide carbon neutrality by 2045.