Democratic Washington Gov. Jay Inslee proposed a cap-and-trade emissions plan Wednesday that would apply to the state’s largest industrial polluters in a sweeping attempt to slow the Emerald State’s contribution to global warming.
Under the plan, which must be approved by the state legislature, polluters would pay for every ton of carbon dioxide they put into the air. Inslee said the program would cover 85 percent of the state’s carbon emissions, which scientists blame for driving climate change.
“We can choose cleaner air, more efficient cars and a better transportation system. We can choose energy independence. We have a choice in our future, and we’re choosing to take action,” Inslee said.
The program is expected to generate $1 billion in its first year, which would begin in July 2016. Revenue would grow in the future, with money going toward transportation, education and other efforts.
If state lawmakers approve the plan, Washington would be second state on the West Coast to implement cap-and-trade. California already has a program in place.
Officials in Washington and California have discussed combining with Oregon and British Columbia to form a West Coast carbon market. Environmental groups such as billionaire ex-hedge fund manager Tom Steyer’s NextGen Climate Action PAC targeted state races in Washington and Oregon in hopes of electing lawmakers who would promote such climate-friendly policies.
Inslee said the program would help satisfy a 2008 state mandate to curb emissions. Under that law, the state must slash its emissions 15 percent below 2005 levels by July 2020 and 36 percent below those levels by 2035.
Many Republicans and industry groups have opposed cap-and-trade systems, saying they function as a tax on energy use.
In Washington, permits for allowing greenhouse gas emissions would decrease over time. That would increase their price on the carbon trading market, putting companies in the position of deciding whether it makes more sense to buy those permits or take steps to reduce emissions.
