Despite threat of repeal, Washington state’s carbon market continues to raise urgently-needed revenue for communities in The Evergreen State

Results were released today for Washington’s second quarterly auction of 2024, administered last Wednesday by the Department of Ecology (Ecology). During the auction, participating entities submitted their bids for allowances. Under the Climate Commitment Act, Washington’s major emitters are required to hold one allowance for every ton of greenhouse gas that they emit, with the total number of allowances available declining each year. This requires polluters in Washington to reduce their emissions in line with the state’s climate targets. By distributing allowances via auction, the state can both regulate emissions and raise important revenue to invest in frontline communities, accelerate clean job creation, and more.

Here are the results, released today:

June auction results

• All 5,260,000 current vintage allowances offered for sale by Ecology were purchased, resulting in the 6th…