Putting a Price on Carbon
Successful legislation to put a price on carbon is ultimately the job of the Washington State Legislature, and will also be influenced by multiple different stakeholder groups. The idea of Carbon Pricing Principles is that they set out high-level “must haves” for a final bill.
The Carbon Pricing Principles for Washington State are informed by, and adapted from a set of principles outlined for national use which can be found here.
We believe that legislation should price carbon consistent with the following principles:
1. Enables Washington to meet the state’s established greenhouse gas reduction targets cost effectively.
2. Establishes an inclusive system to price carbon emissions.
3. Provides flexibility to use complementary policies and mechanisms to meet the state targets.
4. Enhances the competitiveness of WA state businesses.
5. Preserves access to reliable, affordable energy for all WA residents.
6. Ensures economic development support for impacted workers and communities.
7. Aims to tackle regressivity.
8. Incentivizes comparable action by other states.
The Carbon Pricing Principles for Washington State are informed by, and adapted from a set of principles outlined for national use which can be found here.
We believe that legislation should price carbon consistent with the following principles:
1. Enables Washington to meet the state’s established greenhouse gas reduction targets cost effectively.
2. Establishes an inclusive system to price carbon emissions.
3. Provides flexibility to use complementary policies and mechanisms to meet the state targets.
4. Enhances the competitiveness of WA state businesses.
5. Preserves access to reliable, affordable energy for all WA residents.
6. Ensures economic development support for impacted workers and communities.
7. Aims to tackle regressivity.
8. Incentivizes comparable action by other states.
Washington Businesses Climate Policy Action Statement
In 2014, over 250 businesses signed the Washington Business Climate Declaration because they recognized both the need and the economic opportunity presented in taking action to reduce greenhouse gas emissions. A growing number of companies, large and small, have also set goals to reduce emissions and invest in clean, renewable energy.
Given the lack of national leadership on climate change, Washington Businesses for Climate Action believe that it is more necessary than ever that Washington State join with other states across the US in committing to reducing greenhouse gas emissions consistent with a trajectory that limits warming to below 2 degrees C, as outlined in the Paris agreement.
We believe that putting a price on the pollution from fossil fuels is one of the key pathways to reducing emissions and building economic, environmental and social resiliency.
As business leaders our primary objective is to achieve the necessary reductions in GHG emissions, consistent with an under 2 degrees C pathway, in a cost effective, performance based manner.
The following are our key priorities:
Given the lack of national leadership on climate change, Washington Businesses for Climate Action believe that it is more necessary than ever that Washington State join with other states across the US in committing to reducing greenhouse gas emissions consistent with a trajectory that limits warming to below 2 degrees C, as outlined in the Paris agreement.
We believe that putting a price on the pollution from fossil fuels is one of the key pathways to reducing emissions and building economic, environmental and social resiliency.
As business leaders our primary objective is to achieve the necessary reductions in GHG emissions, consistent with an under 2 degrees C pathway, in a cost effective, performance based manner.
The following are our key priorities:
- Establishment of a fee on greenhouse gas emissions in Washington State at the lowest level required to meet the State’s established carbon reduction targets
- Creation of a market-based carbon reduction fund to invest in solutions that are technology neutral, cost effective and performance based.
- Regeneration of our valuable natural resources (e.g. fresh water, marine and forests), to create resilience and mitigate the consequences of climate change.
- Policies that reward Washington State energy intensive and trade exposed businesses for achieving energy efficiency and lower carbon performance.
