In a significant climate win from this year’s U.S. elections, Washington voters showed support for the state’s climate law: the Climate Commitment Act.
Washington Initiative 2117, which sought to repeal the Act and prohibit the implementation of any carbon tax credit trading, appeared on the ballot as an attempt to halt the state’s emission reduction efforts. However, voters decisively rejected the initiative, with a 61.7% to 38.3% margin, thus maintaining Washington’s climate strategy.
The 2021 Washington Climate Commitment Act established a cap-and-invest program to drive down greenhouse gas emissions by setting a state-wide emissions cap and allowing businesses to trade emissions credits. The Act’s primary goal is to reach the state’s emission reduction targets for 2030, 2040, and 2050 respectively. Under this legislation, companies with emissions above 25,000 metric tons of carbon dioxide annually are required to purchase emissions allowances.
Revenue from these allowance auctions, which has already reached $2.149 billion as of mid-2024, is allocated toward environmental and public health projects, focusing on transportation, clean energy, and emissions reduction initiatives.
The Act also integrates environmental justice provisions, mandating regular reviews and air quality monitoring to prioritise relief for overburdened communities. Additionally, it includes requirements for tribal consultation in project funding processes.
Opponents of the Act argued that it disproportionately affects working families and contributed to higher costs for goods and services in Washington.
With Initiative 2117’s defeat, Washington continues on its current course to reduce greenhouse gas emissions. The Act’s cap-and-invest program remains intact, allowing the state to pursue its emissions reduction targets. The popular support by voters reflects their willingness to transition away from fossil fuels. However, with any climate legislation, it is important to balance ambitious climate policies with economic impacts on working families and industries.
תגובות