March 22, 2019
The world is growing like never before, creating
In August of last year, I informed you of our company’s decision to advocate against Washington state ballot initiative 1631. I also made the promise that BP would pursue a better alternative. We are keeping that commitment. We believe putting a price on carbon is the best way to incentivize emissions reductions across the economy.
Today I am writing to ask you to join us in support of SB 5981, a bill before the Washington state legislature. This bill creates a well-designed carbon cap-and-trade system that will lower carbon emissions across the economy, incentivize greater energy efficiency, increase growth in technological innovation, and widen the use of low-carbon energy sources.
Legislative leaders have been working with Governor Inslee, business interests and environmental groups to find the right legislative solution to reduce greenhouse gas emissions in Washington. We believe SB 5981 is a comprehensive and effective way to do that. It is clear, fair and robust.
As a substantial employer and investor in Washington state, we support SB 5981 for these reasons:
- It will reduce carbon emissions in Washington state; thereby helping tackle the climate challenge.
- It will be consistently applied across the economy, thereby maintaining a level economic playing field and providing business predictability.
- It ensures the continued competitiveness of Washington’s energy-intensive, trade-exposed industries and includes cost containment mechanisms.
- It will preempt other state and local carbon regulations, eliminating the risk of double taxation on consumers and businesses, while protecting Washington jobs and consumer prices.
- It will permit linkage to the carbon cap-and-trade market in California, thereby creating opportunities for an expanded, market-based, regional approach to carbon pricing.
This bill is an important step forward in our collective response to the dual challenge. We support SB 5981 as written and introduced.
The transition to a lower carbon economy requires everyone to be involved, from individual consumers to corporations to governments. BP is dedicated to being part of the solution. I ask you to join us in supporting SB 5981.
Robert K. Allendorfer
Cherry Point, Washington