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Washington state legislation

Environmental and community groups, and businesses like ours were united in support of Washington’s new climate legislation. Why? It’s smart policy that achieves progress for people, the economy and our planet. And it gets the world closer to net zero
An aerial view of the Washington state capitol building

Home to our Cherry Point refinery, Washington is now the second state in the country with a comprehensive, economywide, market-based carbon pricing program.

 

The legislature and governor brought progressive climate policy to the Evergreen State that will lower carbon emissions for the benefit of everyone in Washington. The package of solutions will help to produce fewer emissions making the entire economy cleaner by:

  • Incentivizing and rewarding innovation to reduce carbon emissions. If emitters have to reduce their footprint, businesses can offer new solutions that help them achieve those requirements.
  • Creating policy certainty that sends clear signals to businesses. The policies in Washington state set an ambitious but achievable schedule to reduce emissions and evolve operations. If we can plan for it, we can thrive within it.
  • Setting a new standard for the country and creating the opportunity to link Washington’s market to cap and trade markets in California and Quebec – and hopefully more in coming years.
  • Learning from existing programs, in their successes and their shortcomings. Washington’s proposed legislation is stronger because of its predecessors.
  • Strengthening the state’s economy. The legislation aims to create revenue that can reach throughout the entire state.
  • Making climate goals achievable. Like bp, Washington has set an ambition to be net zero by 2050. A cap on emissions is the most effective and efficient way to get there.

 

Read more about how Washington’s ‘cap and invest’ proposal carries promise for emissions and the economy from The Seattle Times.

bp is committed to being part of the solution and we actively advocated for the passage of the Climate Commitment Act (SB 5126). We worked with Clean & Prosperous Washington, a campaign to advance the legislation, as well as a broad coalition of supporters. Learn more about their work.

 

“We applaud the Washington state legislature for passing this critical bill for lowering carbon emissions. This historic achievement puts the state on a path to net zero by 2050.  

 

We look forward to working with state agencies as they develop rules to implement this program. bp remains firmly committed to delivering on its own net zero ambition and being part of the solution for a low carbon future.”

 

Dave Lawler, Chairman and president, bp America

 

We’ll keep doing our part to bring Washington state closer to net zero, starting with our own operations. And we look forward to working with Washington state agencies as they look to implement the Climate Commitment Act.