Requires the department of ecology to develop and implement a program to limit greenhouse gas emissions to achieve emission reductions for Washington state established by this act.

Requires the director to develop, in coordination with the western climate initiative, a design for a regional multisector market-based system to limit and reduce emissions of greenhouse gas consistent with the emission reductions established in this act.

Requires the department of ecology and the department of revenue to provide a report to the legislature on the potential design and implementation of other strategies to achieve the greenhouse gas emission reductions required in this act.

Requires the department to adopt rules requiring annual reporting of total greenhouse gas emissions.

Establishes the clean energy jobs growth initiative in support of a clean energy sector jobs goal of, by 2020, increasing the number of clean energy sector jobs to twenty-five thousand from the eight thousand four hundred jobs the state had in 2004.