Bloomberg pledges $1 million to Washington state's carbon measure

SEATTLE -- Former New York City Mayor Michael Bloomberg has pledged $1 million to back Washington state's carbon fee ballot measure.

Initiative 1631 on the November ballot would charge large polluters an escalating fee on fossil-fuel emissions starting at $15 per metric ton.

Bloomberg's spokeswoman, Lee Cochran, said he announced his pledge Tuesday night in New York.

Opponents have raised more than $21 million, putting it on pace to break a fundraising record for statewide initiative campaigns. Top donors include oil companies Phillips 66, Andeavor and BP. Koch Industries has also contributed.

Supporters have raised about $7 million with environmental groups The Nature Conservancy and the League of Conservation Voters giving top dollars. I-1631 has also drawn money from Seattle tech leaders Craig McKibben and Chris Stolte and venture capitalist Nick Hanauer.