Washington’s cap-and-invest program secures funding for communities

Washington state’s cap-and-invest program continues to show the power of state policies that cut pollution and raise funds for their communities. The first auction of the year generated approximately $230 million in revenue, which will be invested into various projects aimed at enhancing climate resilience, creating jobs, and improving air quality. This quarter’s auction recorded a price of $50.00 per allowance, significantly higher than the previous auction price. The revenue generated will support initiatives such as electrified public transportation, renewable energy infrastructure, and wildfire prevention, demonstrating a robust commitment to sustainable practices.