E&E News: “The Inside Story of How ‘Cap and Trade’ Became ‘Cap and Invest’”
RFF Senior Fellow Dallas Burtraw comments in this story about the evolution of the term cap and invest.
Washington launched its cap-and-invest market last year under climate legislation Carlyle backed. The bill passed in 2022, after Carlyle spent three years working with environmental advocates, tribal communities, labor groups and those representing communities with low incomes, said Dallas Burtraw, senior fellow at Resources for the Future, a nonprofit research organization.
The state's need to fund transportation projects helped build support for the legislation, Burtraw said.
“People wanted to fund clean energy programs and asked, ‘How are we going to pay for it?’” Burtraw recalled. “Well, we're gonna pay for it by putting a price on carbon.”
