Washington State Faces Battle Over Greenhouse Gas Pricing Initiative

More than 100 companies, tribal groups, union organizations, environmental nonprofits, and political groups are supporting a campaign to defeat a November ballot initiative in Washington state aimed at eliminating a marketplace that puts a price on greenhouse gas emissions. The initiative, known as I-2117, has drawn support from big players like Amazon, Microsoft, and other climate startups. The campaign against I-2117 has received donations and pledges of over $11 million, with individual donors including former Microsoft CEOs Bill Gates and Steve Ballmer. However, opponents of the initiative argue that it would undermine businesses and jobs in emerging climate technologies, while supporters claim that the policy has led to unaffordably high petrol prices and increased electric bills for lower-income households.

Key Takeaways

• Over 100 companies, including Amazon and Microsoft, are backing a campaign to defeat a ballot initiative threatening Washington state’s climate policy.
• The initiative, I-2117, aims to eliminate a marketplace in which carbon emitters bid for permits to release greenhouse gases.
• The anti-I-2117 campaign has received donations and pledges of over $11 million, with individual donors including Bill Gates and Steve Ballmer.
• Supporters of I-2117 argue that the state's climate policy has led to unaffordable petrol prices and increased electric bills, affecting lower-income households.
• Opponents of I-2117 caution that the initiative would undermine businesses and jobs in emerging climate technologies, impacting the state's competitiveness.

Analysis

The initiative I-2117, aimed at eliminating the marketplace for greenhouse gas emissions permits, has sparked a heated campaign in Washington state. Big players such as Amazon and Microsoft, along with influential individuals like Bill Gates and Steve Ballmer, have thrown their weight behind the $11 million anti-I-2117 campaign. The conflict revolves around the potential impacts on businesses, jobs in emerging climate technologies, and the affordability of petrol and electric bills for lower-income households. This battle may have ripple effects on climate policy, energy costs, and the competitive landscape of the state, affecting a wide range of organizations, individuals, and financial instruments.

Did You Know?

• The initiative, I-2117, aims to eliminate a marketplace in which carbon emitters bid for permits to release greenhouse gases.
• Supporters of I-2117 argue that the state's climate policy has led to unaffordable petrol prices and increased electric bills, affecting lower-income households.
• Opponents of I-2117 caution that the initiative would undermine businesses and jobs in emerging climate technologies, impacting the state's competitiveness.