The Washington Business Alliance announces the launch of its Clean & Prosperous Washington (CaPWA) coalition in support of the “Climate Commitment Act” legislation recently introduced by Governor Inslee and sponsored by Senator Rueven Carlyle (D-Seattle). The group is being spearheaded by environmental philanthropist and Sonicare inventor David Giuliani.
“Cap and invest is a model that is working and spreading across our country and world,” said David Giuliani. In addition to California’s economy-wide program, a coalition of 12 states and the District of Columbia have recently come together across party lines to form the Transportation and Climate Initiative, a framework for multi-state cap and invest. “There is an exciting and proven playbook we can improve upon to create a policy signal that motivates real reductions and grows our economy.”
Research from the Low Carbon Prosperity Institute earlier this summer highlighted investments in clean energy as a strategy for Washington to bounce back from the current COVID pandemic-induced recession. It found that investing in a Resilient Recovery Portfolio would generate over twice as many jobs per million dollars as the state’s ten largest industries while also delivering a more than two-to-one return on investment in clean air and climate benefits.
CaPWA is calling for the broad proactive participation of business in shaping this legislation. The entity is collecting business signatories for a declaration to support the policy.
Moving forward CaPWA is engaged in thoughtfully integrating the program with the recently passed Clean Energy Transformation Act and crafting mechanisms that encourage the adoption of clean technology in large manufacturing businesses. The legislation is also being developed with the intent of integrating with a Transportation Package.
The Climate Commitment Act’s cap on emissions will:
- Create jobs and fund needed infrastructure improvements by keeping money in our state, stimulating our economy, and boosting clean energy innovation.
- Improve the productivity of Washington’s economy by ridding our state of costly energy waste, generating public health benefits, and providing cleaner air and water.
- Provide a clear signal for businesses to innovate and compete by setting a limit on carbon pollution and meeting our state goals as cost-effectively as possible.
- Empower the most vulnerable and impacted communities by prioritizing public investment to realize a more just and equitable Washington.
- Invest in rural communities, clean air, and natural lands by protecting our forests, preventing wildfires, and stimulating local economies while improving environmental health.
- Accelerate the clean transportation shift by harnessing our clean power system for an electrified future, boosting employment with locally sourced energy, and delivering cleaner, safer infrastructure.
More on the bill, supporters and other updates can be found here as well as this DropBox Link.
