Carbon pricing is here to stay

Globally, there is strong consensus that carbon pricing works, and is central to turning the tide on climate change. Even China has put a price on carbon emissions.

In the EU, results are significant: capped emissions from stationary sources declined 29% from 2005 to 2018 as the price of carbon emissions increased.

Domestically, we see proof that it works. In nearly a dozen Eastern states¹ that have introduced carbon pricing on power plant emissions, those emissions are down more than half AND utility prices are down as well. 

California introduced a cap & invest program, and now is the only Western state where greenhouse gas emissions are down, while economic measures are up faster than any other state. Their program has generated $13.5bn of revenue to implement programs that further reduce emissions, improve health, and boost the state’s economy.

Here in Washington, the Climate Commitment Act (CCA) is currently moving through the Legislature and has been carefully crafted to build on learnings from the successful implementation of earlier cap & invest programs in other jurisdictions. This is why so many agree that the CCA is the right policy and now is the right time. Learn more about the CCA (PSSB 5126) at cleanprosperouswa.com, then read, sign and share the Climate Commitment Act Declaration of Support HERE.

1. Connecticut, Delaware, Maine, Maryland, Massachusetts, New Hampshire, New Jersey, New York, Rhode Island, Vermont, and Virginia.