Legislature expected to continue progress on comprehensive Cap & Invest bill.
Seattle, WA – January 16, 2020 – Today’s Supreme Court ruling restricting the Department of Ecology’s authority to cap greenhouse gas emissions (GHGs) creates a patchwork of regulations that are at odds with effective carbon reduction policy. The legislature can advance a comprehensive solution, covering the full economy to achieve our increasing needs for carbon reduction with fairness and economic efficiency.
Clean & Prosperous Washington
GHG Reduction Explorer
CaPI Event: The Future of Climate Policy After I-1631
Wed, November 28, 2018, 3:00 PM – 5:00 PM PST | Mercer Island Community & Event Center
Purpose: Inform community about views of electorate, Resolve post-election tensions & align towards cooperative success, Invite engagement in achieving desired outcomes, Set framework for 2019 legislature
The prospects for I-1631 eliminating 20 million tons of carbon pollution annually by 2035
This analysis aims to answer the following central question: What cost-performance must I-1631 investments in carbon reduction achieve in order to meet the state’s 2035 emissions target and trigger a freeze in the rate of fee increase?
Appendix B: Initiative 1631 Detailed Scenario Results
In this Appendix, we present detailed projections for the two available funds scenarios, each with four investment pathway cases that were the focus of this study.
Revenue & Emissions Preliminary Impact Analysis – Senate Bill 6203
Using a proprietary modeling system, the Washington Business Alliance analyzed the expected outcomes of Senator Palumbo’s Carbon Tax Bill, Senate Bill 5930. SB 5930 is projected to generate a peak of roughly $1.8 billion/year in 2024 (in USD, 2018), and reduce greenhouse gas emissions by a similar amount as the Clean Air Rule (CAR): around 180 million metric tons of carbon dioxide equivalents (MtCO2e) give or take around twenty percent. Emissions in 2035 are projected to be around 9% lower than 1990 levels.
House Bill 1646: Revenue and Emissions Impact – Preliminary Analysis
The Washington Business Alliance developed the Washington State GHG Reduction Explorer to project the outcomes of various policy proposals that tax/regulate greenhouse gas emissions. We evaluate two scenarios for this analysis: one with what we believe are relatively optimistic assumptions about Clean Energy Account investments and one with what we believe are relatively pessimistic assumptions about the Clean Energy Account investment cost-effectiveness.
Modeling Analysis of SB 5930 (Sen. Palumbo) Carbon Tax Proposal – Additional Details
Using a proprietary modeling system, the Washington Business Alliance analyzed the expected outcomes of Senator Palumbo’s Carbon Tax Bill, Senate Bill 5930. SB 5930 is projected to generate a peak of roughly $1.8 billion/year in 2024 (in USD, 2018), and reduce greenhouse gas emissions by a similar amount as the Clean Air Rule (CAR): around 180 million metric tons of carbon dioxide equivalents (MtCO2e) give or take around twenty percent.
Modeling Analysis of SB 5930 (Sen. Palumbo) Carbon Tax Proposal
Using a proprietary modeling system, the Washington Business Alliance analyzed the expected outcomes of Senator Palumbo’s Carbon Tax Bill, Senate Bill 5930. SB 5930 is projected to generate a peak of roughly $1.8 billion/year in 2024 (in USD, 2018), and reduce greenhouse gas emissions by a similar amount as the Clean Air Rule (CAR): around 180 million metric tons of carbon dioxide equivalents (MtCO2e) give or take around twenty percent.
Carbon Policy Explorer Enables Better Decision-Making
At the Business Alliance we began to wonder how effective these different policies are likely to be at actually reducing GHG emissions and at what price. So we developed analytical software tools to evaluate the many scenarios being proposed. In evaluating all these proposals, voters and lawmakers alike are facing a lack of basic information about the different proposals. It’s difficult to identify comparative fiscal impacts, likely changes in energy costs, and the projected effectiveness of each policy in lowering greenhouse gas (GHG) emissions. That is why the Washington Business Alliance developed the GHG Reduction Explorer, intending to project the outcomes of various policy proposals that aim to price and regulate greenhouse gas emissions.
The Business View on I-732
As voters consider I-732 this election, it’s important to have accurate information on this initiative, the first in our nation proposing a carbon tax. Much has been written about I-732, some of it inaccurate.