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June 24, 2024

Washington Department of Ecology (WA ECY)

Washington Department of Ecology
Wash. Cap-and-invest Supporters Launch Anti-repeal Effort
Bolstered by a nearly $5 million war chest, supporters of Washington’s cap-and-invest system have begun efforts to defeat a campaign that seeks to scrap the carbon allowance program through a referendum this fall. 
Port of Seattle
Calif., Quebec, Wash. to Explore Linking Carbon Markets

Washington could be closer to joining the California-Québec carbon market after the three governments issued a statement saying they will explore linking their cap-and-trade systems.

HF Sinclair
Drop in Wash. Carbon Price Spells Uncertainty for Budget, Gas Costs

Washington’s first quarterly carbon allowance auction of 2024 has thrown two new wrinkles into the economics of the state’s fledgling — and controversial — cap-and-invest program.

Valley School District
New Wash. Law Seeks to Accelerate Electric School Bus Adoption

Washington is poised to start phasing in electric school buses after lawmakers approved a bill directing the Department of Ecology to help school districts convert their existing diesel fleets.

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Suit Alleges Job Retaliation over Wash. Cap-and-invest Projections
A former Washington DOT economist is suing the state over allegations he was forced out of his job because his superiors did not like his forecasts showing that gas prices would jump under cap-and-invest.
Legislative Support Services
Carbon Market Linkage Bill Passes Wash. Senate
The specter of a November referendum on Washington’s cap-and-invest program hovered over the state Senate when it passed a bill to link the program with the California-Quebec system.
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Group Says Inslee, Dems Knew About Cap-and-invest Impact
A Seattle-based conservative think tank says the Washington governor knew nearly a decade ago that a cap-and-invest program in the state would increase gas prices.
Shutterstock
Cap-and-invest to Loom Large in Wash. Legislative Session

Washington’s one-year-old cap-and-invest program will be one of the dominant issues during the state’s 2024 legislative session, which begins Jan. 8.

State of Washington
Washington State’s Cap-and-trade Auction Generates $373M
Washington state raised another $373.6 million in its last carbon emissions allowance auction for 2023, the Ecology Department reported.
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Inslee Unveils Plans for $941M in Extra Wash. Cap-and-trade Revenue
Washington expects to collect $941 million in extra cap-and-invest program money in the first half of 2024, bringing overall income to roughly $3 billion in the first 18 months.

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