Establishes state policy regarding natural climate solutions.
Establishes Natural and Working Lands Fund and provides for transfer of moneys from fund to certain state agencies. Prescribes uses of moneys from fund and requires Oregon Global Warming Commission to report to legislature on uses of moneys from fund.
Directs State Department of Energy and commission to prepare inventory, baseline, activity-based metrics and community impact metrics for net carbon sequestration and storage in natural and working lands and establish carbon sequestration and storage goals.
Directs State Department of Energy, in coordination with commission, to study workforce training programs needed to support adoption of natural climate solutions and provide results to committees of Legislative Assembly related to environment no later than September 15, 2024.
Authorizes commission to appoint natural and working lands advisory committee.
Takes effect on 91st day following adjournment sine die.