The key elements of the plan:
- Cap statewide greenhouse gas emissions and invest in clean energy, transportation and climate resilience programs, and fund part of the Working Families Tax Credit.
- Establish a clean fuel standard and reduce transportation emissions through electrification.
- Require new buildings to be carbon free by 2030 and eliminate fossil fuels from existing buildings by 2050.
- Require an environmental justice assessment for all climate related investments and create an Environmental Justice and Equity Advisory Panel to analyze how climate investments impact communities most affected by climate change.
- Invest $428 million in clean transportation, clean buildings and clean energy projects.
The Washington Research Council writes,
At the governor’s press conference yesterday, Jim Camden of the Spokesman-Review asked Gov. Inslee if there is a list of the companies that would be subject to the emission cap. Gov. Inslee said,
I don’t know if we have a list. We’ve had ones in the past. I will provide in future weeks a more acute description of those and we’re happy to do that when we have that. I may note that we’ve also designed this in a way that will not make us uncompetitive from a trade perspective. We’re alert to that. We’re going to keep jobs here in the state of Washington.
The governor didn’t say how much the sale of allowances is expected to raise.
More budget details are expected this week.