Expanding revenue generation and economic opportunities from natural climate solutions and ecosystem services.

SB 5999 authorizes Washington’s Department of Natural Resources to generate revenue from carbon offset and ecosystem service projects on state lands (approximately 6 million acres). The bill allows the department to enter long-term contracts (up to 125 years) for selling credits representing services like carbon sequestration, water filtration, and habitat restoration, with proceeds deposited into state accounts. It establishes rules for board-approved minimum payments and permits direct sales or partnerships with brokers/developers to access carbon and ecosystem markets. This directly affects state land management practices and creates new revenue streams for beneficiaries and the state, aligning with existing climate policy frameworks.