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In 2021, the Washington Legislature adopted a package of legislative and budget proposals to combat climate change and prepare the state for the future low-carbon economy. The Legislature provided Ecology with the authority and funding to develop rules and requirements to implement three major climate bills: Climate Commitment Act, the Clean Fuel Standard, and an expanded hydrofluorocarbons management program.
Together with existing policies advancing clean energy and zero-emission vehicles, these new laws put Washington on a path toward achieving the greenhouse gas limits set in state law: 45% below 1990 levels by 2030, 70% below 1990 levels by 2040, and 95% below 1990 levels and net-zero carbon emissions by 2050.
The cap-and-invest program sets a limit, or cap, on overall carbon emissions in the state and requires businesses to obtain allowances equal to their covered greenhouse gas emissions. These allowances can be obtained through quarterly auctions hosted by Ecology or bought and sold on a secondary market (just like stocks and bonds).
Washington Department of Ecology will be holding a webinar on May 24th at 10:00 AM. This webinar could be beneficial to those interested in how to develop carbon credits.
"This training will walk through the process, timeline, and requirements for developing an offset project in the cap-and-invest program. We will discuss the four offset protocols adopted by Ecology, as well as the process to determine whether or not an offset project provides direct environmental benefits to Washington State. Third party verification requirements, and the first steps to begin listing an offset project in the cap-and-invest program, will be also covered. "
For registration link visit Meeting Registration - Zoom.
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