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

HB 2170 would authorize Washington’s Department of Natural Resources to generate revenue from state lands and waters through carbon credit programs and other ecosystem service projects, such as reforestation, kelp restoration, and water purification. The bill directly affects the department (which manages 6 million acres of state lands) and trust beneficiaries by enabling it to enter carbon markets like private landowners already do, with contracts lasting up to 125 years. Key provisions include requiring board approval for minimum payments, allowing sales of ecosystem service credits to markets, and directing proceeds to state accounts for environmental projects like salmon habitat improvement. The bill aims to diversify state revenue streams while leveraging natural climate solutions, aligning with Washington’s existing cap-and-invest climate program. It remains a proposed bill (prefiled but not yet enacted).