Audit, Compliance and Risk Blog

Washington conducts first sales under its new state greenhouse gas cap-and-invest program

Posted by Jon Elliott on Mon, Mar 20, 2023

The Washington state Department of Ecology (Ecology) has just conducted its first auction of greenhouse gas (GHG) emission allowances, under the state’s Climate Commitment Act (or CCA) which establishes a comprehensive, market-based program to reduce carbon pollution and achieve greenhouse gas limits set in state law. The CCA was one of a package of climate-related laws passed in 2021, including the Clean Fuel Standard, and an expanded hydrofluorocarbons management program. The remainder of this note discusses CCA and the recent sale of GHG allowances.

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Tags: Greenhouse Gas, ghg, greenhouse, CO2 Emissions, Washington, CCA