Daily Score Blog

Update: We now have all of Sightline's Western Climate Initiative work compiled in one handy page.

The Western Climate Initiative -- North America's biggest cap-and-trade system -- just released its final proposal: here.

This is historic stuff. The proposal leaves room for improvement -- I'll get to that in a minute -- but let's take note of where we are. This will be the first major climate policy to tackle all the principle sources of climate pollution. And it's by far the biggest cap-and-trade system proposed in North America. It's a giant step forward.

With 85 million people spread out across 7 states and 4 provinces, WCI all by itself represents nearly three-quarters of Canada's economy and a fifth of the American economy. (And in combination with states that are participating in other cap-and-trade programs, more than half of North America's population and economy are in cap-and-trade jurisdictions.)

The WCI also brings together a very diverse group of players. There's a big difference between Quebec and California, New Mexico and British Columbia. And the proposal WCI brings forward today represents ground rules -- a common foundation that everyone can agree to. Today's proposal is not a ceiling. Individual states and provinces can do better -- and they will

Here in the Northwest, Washington Governor Gregoire and Oregon Governor Kulongoski have both demonstrated tremendous leadership on climate protection over the last few years. (So has British Columbia premier Campbell, on whom I've heaped praise in the past.) So there is every reason to believe that leaders in the Northwest will springboard from WCI's recommendations to design a program that is effective and fair -- and that makes sense for the Northwest.

In the end, we'll benefit from joining other forward-looking states and provinces in a big program, even as we craft a local solution.

Now. None of this is say the proposal is perfect. To be frank, WCI's position is not what we hoped for. It leaves unanswered some large questions about fairness. And in the early years it doesn't go far enough -- or quickly enough -- to capture all the major sources of carbon. These are the sorts of things that local leadership will address.

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Cool update, 11:00 a.m.: Just as I expected, Northwest leaders are stepping up to make WCI fair and effective. Here's Oregon's Governor Kulongoski:

I will work with the state legislature, stakeholders and other jurisdictions to expand the scope of auctions because the ten percent minimum is just that – a minimum – and I believe we can achieve a balanced program that meets both our environmental and economic goals. 

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How does cap and trade work? Check out Sightline's brand new Cap and Trade 101: A Climate Policy Primer.

What exactly does WCI's new proposal say? If you want to read the 122 page document you can find it here. Otherwise, I hit the highlights below the jump...