REPORT TITLE:
Carbon Sequestration; Appro.


DESCRIPTION:
Appropriates funds for projects and activities required to
facilitate development of carbon sequestration credits.

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
                                                        3054
THE SENATE                              S.B. NO.           
TWENTIETH LEGISLATURE, 2000                                
STATE OF HAWAII                                            
                                                             
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                   A  BILL  FOR  AN  ACT

RELATING TO CARBON SEQUESTRATION.



BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:

 1      SECTION 1.  The legislature finds issues relating to global
 
 2 warming provide an opportunity to plant forests in Hawaii to
 
 3 offset related environmental problems.  Many factors make the
 
 4 State of Hawaii an ideal place to establish carbon offset
 
 5 forestry projects, available lands, climate, and political
 
 6 stability.  The projects would be geared to international
 
 7 investors seeking to offset the environmental aspects of heavy
 
 8 industry.  Carbon offsets through sustainable forestry would have
 
 9 a positive impact on global and local environmental issues, as
 
10 well as a positive contribution to economic development in
 
11 Hawaii.
 
12      The Hawaii forestry and community initiative was formed by
 
13 five state departments (the department of land and natural
 
14 resources; the department of agriculture; the department of
 
15 business, economic development, and tourism; the department of
 
16 Hawaiian home lands; and the department of labor and industrial
 
17 relations) and three United States Department of Agriculture
 
18 agencies to coordinate the government efforts to encourage value-
 
19 added forestry for and with local communities.  Senate Concurrent
 

 
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 1 Resolution No. 202 (1999), requested the Hawaii forestry and
 
 2 community initiative and department of health to convene a
 
 3 meeting of stakeholders to consider regulatory, policy, fiscal,
 
 4 and human resources needed to attract carbon sequestration
 
 5 investments that mitigate global warming through sustainable
 
 6 forestry in Hawaii.
 
 7      The purpose of this Act is to appropriate funds to be
 
 8 expended by the Hawaii forestry and community initiative of the
 
 9 department of land and natural resources to implement the
 
10 recommendations of the carbon sequestration conference held
 
11 November 9, 1999.
 
12      SECTION 2.  There is appropriated out of the general
 
13 revenues of the State of Hawaii the sum of $125,000, or so much
 
14 thereof as may be necessary for fiscal year 2000-2001, to
 
15 implement recommendations submitted by the conference on carbon
 
16 sequestration in Hawaii forests convened pursuant to Senate
 
17 Concurrent Resolution No. 202 (1999).  The sum appropriated shall
 
18 be utilized as follows:
 
19      (1)  Establish the potential acreage in both
 
20           public and private held lands that can
 
21           be used for new forest plantings and for
 
22           projects earning carbon credits;                $25,000
 

 
 
 
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 1      (2)  Generate public awareness of landowners
 
 2           and communities potentially involved in
 
 3           new forest plantings workshops and
 
 4           forums on all islands.  Workshops and
 
 5           forums all explain how the environmental
 
 6           aspects of projects of stakeholders can
 
 7           attract funding through marketing carbon
 
 8           credits;                                        $30,000
 
 9      (3)  Information dissemination;                      $15,000
 
10      (4)  Establish a carbon sequestration
 
11           evaluation team to measure carbon
 
12           absorbed by forestry projects in Hawaii
 
13           seeking to market carbon credits;
 
14           members of the team shall be independent
 
15           of all potential carbon credit sellers,
 
16           including state government;                     $40,000
 
17      (5)  Development of a website to market
 
18           internationally a pilot project to
 
19           generate awareness of high sequestration
 
20           value of Hawaii carbon credits;                 $ 5,000
 
21      (6)  State registration of planned forestry
 
22           projects for their marketable,
 

 
 
 
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 1           authenticated, carbon sequestration
 
 2           value.                                          $10,000
 
 3      SECTION 3.  The sum appropriated shall be expended by the
 
 4 Hawaii forestry and communities initiative of the department of
 
 5 land and natural resources for the purposes of this Act.
 
 6      SECTION 4.  This Act shall take effect on July 1, 2000.
 
 7 
 
 8                       INTRODUCED BY:  ___________________________