Washington's Carbon-Emission Allowance Prices Halve Amid Repeal Vote Concerns

The latest auction results and legislative decisions highlight the stakes in Washington's climate policy debate.

Washington's carbon-emission allowance prices dropped by half in the latest auction, signaling market adjustments and potential impacts of a repeal vote.
The decline in allowance prices raised concerns among supporters and critics of the state's Climate Commitment Act, with both sides interpreting the drop differently.
The auction's results generated approximately $135.5 million, contributing to nearly $2 billion raised for green initiatives across Washington.
Legislative decisions and auction results emphasize the importance of investments from the Climate Commitment Act in enhancing climate resilience and supporting clean energy projects.
The potential repeal of the Climate Commitment Act through Initiative 2117 poses a significant threat to the progress and benefits achieved in Washington's fight against climate change.