In the election held November 5, voters in Washington state upheld one of the biggest climate laws in the U.S. against challenges made by Republicans.
Voters decided against a conservative repeal effort for the Climate Commitment Act, which was first signed into law by Gov. Jay Inslee in 2021. The law set up a state cap-and-invest program that limits greenhouse gas emissions and raises money for climate change resiliency and environmental restoration.
The program works by setting a limit on emissions for the state, and businesses have to buy allowances to cover their emissions. As the state’s Department of Ecology explained, the program is a sealed-bid auction where businesses submit their bids, but the highest bidder doesn’t necessarily win all the allowances.
“Instead, participants can choose to submit a single bid for all their desired allowances, or a series of bids for groups of allowances at different prices,” the department explained. “The bids are then automatically sorted in order of bid price, …