Washington's climate law at risk as voters decide its fate in November

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Washington's climate law at risk as voters decide its fate in November - Business Standard

Quick Summary:

A ground-breaking law that forces companies in Washington state to reduce their carbon emissions while raising billions of dollars for climate programmes could be repealed by voters this fall, less than two years after it took effect.

It requires businesses producing at least 25,000 metric tons (27,557 US tons) of carbon dioxide, or the equivalent in other greenhouse gases including methane, to pay for the right to do so by buying allowances.

The Climate Commitment Act, one of the most progressive climate policies ever passed by a state Legislature, is under fire from Conservatives, who say it has ramped up energy and gas costs in Washington, which currently has the third-highest gas prices in the nation.