Even as Washington state’s Climate Commitment Act faces repeal this November via Initiative 2117, Gov. Jay Inslee has signed a bill into law that will further align the state’s cap-and-trade program with the joint California-Quebec program.
Engrossed Second Substitute Senate Bill 6058 authorizes the state Department of Ecology to change the length of compliance periods under carbon tax credit trading – cap-and-trade – as part of the Climate Commitment Act of 2021, modifies definitions and policies related to electricity importing and reports, increases the percent of allowances a covered or opt-in entity may buy from 10% to 25% in a single auction, and continues the prohibition on a general market participant from owning more than 10% of total allowances issued in a calendar year until Washington’s market is linked with another jurisdiction.
“This bill will make it easier to link the Washington program with the California-Quebec program,” Inslee said during […]
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