From WDOE's website

In 2021, the Washington Legislature passed the Climate Commitment Act (or CCA) which establishes a comprehensive program to reduce carbon pollution and achieve greenhouse gas limits set in state law. The program will start Jan. 1, 2023.
The Climate Commitment Act (CCA) caps and reduces greenhouse gas emissions from Washington’s largest emitting sources and industries, allowing businesses to find the most efficient path to lower carbon emissions. This puts Washington on a path to meet greenhouse gas emission limits set in state law.
The CCA also puts environmental justice and equity at the center of climate policy, making sure that communities that bear the greatest burdens from air pollution today see cleaner, healthier air as the state cuts greenhouse gases. Finally, funds from the auction of emission allowances will support new investments in climate resiliency programs, clean transportation, and addressing health disparities across the state.

To learn more: Climate Commitment Act