What could a metric ton of carbon cost? Ten dollars?
As it turns out, $48.50. This was determined by Washington’s first auction of carbon allowances, which took place Feb. 28. Having a carbon allowance means being allowed to emit one metric ton of carbon in 2023. The auction was prompted by 2021’s Climate Commitment Act (CCA), a bill that set progressive limits on carbon emissions for prolific polluters with the aim of reducing their greenhouse gas emissions by 2050 to 95 percent below 1990 levels. ...