Announcement Paves Way for Potential GHG Market Linkages between California, Oregon, Washington and Canadian Province
Home / News / Announcement Paves Way for Potential GHG Market Linkages between California, Oregon, Washington and Canadian Province
In a milestone agreement expected to shape climate change policies in a region that ranks as the world’s fifth-largest economy, with an annual GDP of $3.8 trillion, British Columbia, California, Oregon and Washington State signed the Pacific Coast Action Plan on Climate & Energy, a comprehensive and far-reaching strategic alignment aimed at combatting climate change and promoting clean energy.
Through the Action Plan, leaders agreed that all four jurisdictions will account for the costs of carbon pollution and that, where appropriate and feasible, link programs to create consistency and predictability across the region. The Plan also commits leaders to adopt a low carbon fuel standards in each jurisdiction, and pursue meaningful coordination and linkage between states and provinces across North America.
As noted in the press release, Oregon intends to build on existing programs to set a price on carbon emissions. Washington State will set binding limits on carbon emissions and deploy market mechanisms to meet those limits. British Columbia and California will maintain their existing carbon-pricing programs. Where possible, California, British Columbia, Oregon and Washington will seek to link programs for consistency and predictability and expand opportunities to grow the region’s low-carbon economy.
The Action Plan can be downloaded here, and related Press Release is available here. Press coverage of the announcement was carried in the San Francisco Chronicle and other news outlets.