Large corporations with the biggest greenhouse gas emissions in Washington State will soon be forced to take part in a cap and invest program for their carbon footprint.
This is part of new laws that will kick in from January 2023, with the full program being run by the Washington Department of Ecology. It will allow different organizations to trade carbon emissions, forcing those that have very high emissions to buy credits while those with low emissions can profit by selling emissions.
The Environmental Leader recently reported on what kind of companies will be involved.
This will initially affect 98 companies, but it’s expected that the program will expand. There are also provisions to allow companies to invest in carbon offset programs that are classed as beneficial for environmental and climate action.
It’s a positive move to start forcing the worst greenhouse gas emitters to take more serious actions.
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