AUSTIN – The Texas Parks and Wildlife Department (TPWD) will soon begin seeking proposals from public or private entities to construct nature-based carbon sequestration infrastructure or other projects that will harness other similar ecosystem services on TPWD properties.
House Bill (HB) 4018, which passed in the 88th Texas Legislative Session and effective Sept. 1, allows TPWD to enter into agreements through an innovative conservation model providing both wetland protection and carbon credit-based revenue to the agency.
The legislation authorizes development of nature-based structures on land primarily used for game or fish conservation, protection or management. Additionally, projects may be constructed on TPWD land primarily used for parks, recreation or historic sites.
TPWD will be looking for partners willing to fund all construction costs for nature-based structures and establish a revenue-sharing model for carbon credits. Private money may fund construction adjacent to select public lands, and TPWD will deposit any funds received for that purpose to benefit either state parks or game and fish management, depending on the project’s location.
To learn more about carbon sequestration, read the Texas Real Estate Research Center’s article, “Down to Earth: Carbon Credits for Landowners.”