Passing I 732 is the best chance we have right now to address climate change. Other investments in our future, such as ST3, can be part of a strategy, but larger, more immediate, economy-wide moves like I732 are required to stop the environmental and health damages occurring from greenhouse gas (GHG) emissions. The climate can’t wait.
- A 2013 study by Regional Economic Models, Inc found that a policy similar to I732 would get our State halfway to its 2050 greenhouse gas emission reduction target.
- Studies show that British Columbia’s similar carbon tax has already reduced GHG emissions by 5-15% since 2008.
- Sound Transit estimates the ST3 projects will reduce carbon emissions by 130,000 tons a year in 2040. That’s only about 1/3 of one percent of the reduction needed to meet the State’s 2050 target.
- Sound Transit estimates that a fully-built out system (phases 1 + 2 + 3) will reduce GHG emissions by 793,000 tons a year in 2040. That’s less than 2% of reduction we need to meet the State’s 2050 target.
- Statewide greenhouse gas emissions were 92.0 million metric tons (MMT) in 2012
- The State’s official GHG reduction targets are
- Return to 1990 levels by 2020 = 88.4 million metric tons (MMT)
- 25% below 1990 levels by 2035 = 3 MMT
- 50% below 1990 levels by 2050 = 44.2 MMT