Voters in Washington have rejected ballot initiative 2117, upholding the state's cap-and-trade program under the Climate Commitment Act (CCA). About 62 percent of voters went against the measure, with 58 percent of the vote counted as of press time.
Passed in 2021, the CCA established Washington's cap-and-trade program for greenhouse gas (GHG) emissions. Under this mechanism, the state government sets an emissions cap which businesses whose annual GHG emissions exceed 25,000 metric tons of carbon dioxide (CO2) equivalent must meet. If they can't, companies must purchase additional allowance credits at a quarterly auction. The revenue generated at these auctions funds clean energy and environmental protection programs authorized by the CCA. Companies that meet the 25,000 metric ton emissions threshold but do not participate in the auction face fines of up to $50,000 per day.
