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.
Washington Business Leaders Carbon Pricing and Investment Priorities
These are the priorities that have been identified through outreach to the business community as particularly important for business led advocacy in the state.
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.
Washington Business Leaders Carbon Pricing and Investment Priorities
These are the priorities that have been identified through outreach to the business community as particularly important for business led advocacy in the state.
- 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 that is technology neutral, cost effectively reduces greenhouse gas emissions, and offers economic opportunity across the state.
- Protection 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 low carbon performance
