Washington governor unveils carbon cap-and-trade plan

Source: Reuters

Washington governor unveils carbon cap-and-trade plan

BY RORY CARROLL
SAN FRANCISCO Wed Dec 17, 2014 7:33pm EST

(Reuters) - Washington Governor Jay Inslee on Wednesday laid out a plan for a carbon cap-and-trade program aimed at fighting global warming and raising $1 billion a year for state schools and public transportation initiatives, but he will first need the support of a divided state legislature.

The program would place an overall limit, or cap, on the amount of carbon that large businesses and fuel distributors can emit. Those companies would then have the option to either reduce their carbon output, buy carbon permits at state-run auctions, or purchase permits from other businesses on the open market.

However, the program faces an uphill battle politically since it will need the state legislature to sign off on the proposal before becoming law, including approval from the Republican-held state Senate.

The proposal in many ways mirrors California’s two-year-old cap-and-trade program, which, like Washington, also aims to help the state roll carbon emissions back to 1990 levels by 2020.

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Read more: http://www.reuters.com/article/2014/12/18/us-washington-carbon-policy-idUSKBN0JW01G20141218