TORONTO, 1 June - IETA welcomes the state of Washington's publication of a draft rule for its emissions trading system.
The state today published its revised proposal for an emissions market for public comment, targeting a 1.7% annual reduction in emissions from industrial and electric power installations.
"We're happy to see Washington's commitment to markets and to linking with regional partners, and we congratulate Governor Inslee and the Department of Ecology on their determination to establish Washington's first-ever rule to cap climate pollution," said Katie Sullivan, director of North America. "IETA looks forward to working closely with the Department of Ecology and the governor's office over the coming months."
"We applaud the outward-looking language on linking to other markets, and on the potential acceptance of emissions allowances from other systems for compliance," Sullivan added. "We recognise the hard work that Washington has done to address concerns over competitiveness and carbon leakage through smart market design."
"IETA does have some concerns concerning the lack of clear language enabling traders and intermediaries to participate in the market," Sullivan said. "Market makers and liquidity providers can play an important role in supporting carbon markets, lowering compliance costs and facilitating carbon reduction and we would hope to see the benefits of this role acknowledged in Washington's proposal."
Contact: Katie Sullivan, email@example.com