Franz Supports DNR Selling Carbon Credits
Carbon credits has been a hot topic in the state of Washington. Now Commissioner of Public Lands Hillary Franz is urging the legislature to allow the Washington Department of Natural Resources (DNR) to join the growing market for carbon credits.
Franz said storing carbon in Washington's forests, fields, and waterways could be a new source of revenue for schools, communities, and environmental conservation under legislation currently before the state legislature.
The legislation, Senate Bill 5688 and House Bill 1789, would give the DNR authority to sell carbon credits on the open market, like many private industries already do.
DNR currently has the authority to lease stateowned lands for carbon sequestration and capture, but it cannot directly sell carbon credits. Franz said that using commercial leases is seen as an unnecessary and time- consuming step that keeps DNR out of markets already accessible to private landowners and results in less revenue for beneficiaries. Additionally, these leases are capped at 99 years, which does not comply with the permanence provisions of the Climate Commitment Act.
"I have two mandates from the people of Washington – use our public lands to build stronger communities and schools and protect our environment. This legislation accomplishes both of those," said Commissioner Franz. "We've seen carbon- driven climate change lead to more extremes throughout Washington, be it more extreme wildfires, hotter and longer heat waves, or wilder winter storms. By joining the private sector in selling carbon credits, we will create more jobs, restore more habitat, generate new revenue for local communities and use our forests, farms and tidelands to help fight climate change."
The legislation, sponsored by Senators Liz Lovelett and
Joe Nguyen in the Washington State Senate and Representative Kristine Reeves in the Washington State House, had its first hearing on February 10 in the Senate Committee on Environment, Energy and Technology.
Funds earned through carbon credits by the DNR would also generate revenue for habitat restoration on its 2.6 million acres of stateowned aquatic lands and establish a transparent process for the sale of carbon credits to ensure the greatest benefit to beneficiaries, local communities, and the state.
"Washington state is leading the world on meaningful and measurable climate action, and this bill would be a significant step in furthering our ambitious goals," said Senator Lovelett. "Our public lands and working forests are the beating heart of communities across the state, but many don't know of the incredible work that DNR does to support urban forestry and aquatic environments. This policy will equip the agency to be a changemaker in drawing down carbon and remediating ecosystems - both urban and rural."
Leaders from Clean & Prosperous Washington, the Swinomish Indian Tribal Community, and the Natural Conservancy also support the legislation, seeing it as an innovative approach to decarbonizing while generating revenue for projects that future generations will benefit from.
"Washington's public lands are a critical component in the fight against climate change," said David Mendoza, Director of Public Advocacy and Engagement for the Natural Conservancy. "We support this legislation because it is essential for the Department of Natural Resources to have access to the carbon credit market and use their land to help mitigate the impacts of climate change."