SB 1534 Creates carbon sequestration program

Died in Committee
Status (overview) of bill:

Establishes state policy to increase carbon sequestration in natural and working lands and waters that develops another measurement piece to the greenhouse gas emission goals. Nothing actually provides for carbon sequestration, just measurement and study.

Fiscal Responsibility
This bill isn’t about carbon sequestration, it’s about climate-smart incentive-based programs that aren’t identified. The Institute for Natural Resources shall study and evaluate the need to expand and benefits to the state to the workforce and economic development potential of strategies to increase carbon sequestration in natural and working lands and waters.

Limited Government
State and local government bodies shall consider the benefits of carbon sequestration strategies for environmental justice communities (communities of color, low income, tribal, rural, limited infrastructure, underrepresented and adversely harmed); incorporate the interests of landowners, land managers and communities; and ensure that a diversity of landowners and managers are able to participate in incentive-based programs with meaningful climate benefits for carbon sequestration. The more the state prioritizes equity in benefits, the more people will qualify until everyone is lowered to those standards. This cap-and-trade scenario inventories carbon sequestration in natural and working lands and waters. Carbon sequestration is just the measuring mechanism “using methods consistent with methods used to assess greenhouse gas fluxes.” Six agencies will track and develop a baseline and metrics to measure the effects. They report to the Oregon Global Warming Commission and they include it in their report to legislature on Oregon’s progress towards achieving greenhouse gas emissions reduction goals.

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