Results were released today for Washington’s second cap-and-invest auction of the year, administered last Wednesday by the Department of Ecology (Ecology). During the auction, participating entities submitted their bids for allowances. Under the Climate Commitment Act — Washington’s landmark climate law that sets a binding, declining limit on pollution — major emitters in Washington are required to hold one allowance for every ton of greenhouse gas they emit, with the total number of allowances decreasing each year. This system requires Washington’s polluters to reduce their emissions in line with the state’s climate targets, as fewer allowances become available annually.
The U.S. auto industry has just started finding its footing with electric vehicles (EVs). Jobs are now booming across the Midwest and the new “battery belt” in the South.
