Carbon Removal and Mariculture Legislation Moves Forward in California Assembly
Carbon Removal and Mariculture Legislation Moves Forward in California Assembly
Two bills currently being considered by the California Assembly received bipartisan support in two committees and now travel to the Appropriations Committee. The Committee on Natural Resources voted unanimously to refer AB 2572, which directs the Air Resources Board (ARB) to assess the environmental standards and promote the use of ocean carbon dioxide removal projects. Similarly, the Committee on Water, Parks, and Wildlife passed AB 3220, which directs the Department of Fish and Wildlife to investigate how to expedite permit processes with mariculture projects.
AB 2572, introduced by Assemblyman Al Muratsuchi (D-South Bay), would direct ARB to develop criteria to “determine whether an ocean carbon dioxide removal project is environmentally safe and sustainable,” while also qualifying such projects for funding through the state’s carbon credit programs.
AB 3220, introduced by Assemblywoman Diane Papan (D-San Mateo), directs the Department of Fish and Wildlife to look into seeking state verification authority from the US Army Corps of Engineers and any other appropriate federal agencies in order to streamline the review and approval of federal permits issued that may be required for any mariculture projects, which are defined in the legislation as “agriculture devoted to the propagation, cultivation, maintenance, and harvesting of aquatic plants and animals in marine water.”
The bills are both sponsored by AltaSea at the Port of Los Angeles, a 35-acre ocean technology campus home to many innovative climate solutions, including carbon capture projects directed by Caltech, USC, and UCLA. Additionally, various startups and companies have mariculture and aquaculture labs at AltaSea.
They now head to the Appropriations Committee and are expected to be considered in May.
“We applaud Assemblymembers Muratsuchi and Papan for their important work to help streamline carbon removal and mariculture projects. This legislation, if passed and signed by the Governor, will reduce emissions and support California’s environmental sustainability goals,” said Terry Tamminen, President and CEO of AltaSea. Tamminen served as Secretary of the California Environmental Protection Agency under Governor Arnold Schwarzenegger. “The bipartisan support these bills have garnered once again highlight California’s leadership on climate initiatives. We look forward to this continued momentum in growing our blue economy.”
About AltaSea at the Port of Los Angeles
AltaSea at the Port of Los Angeles, located on 35 acres at North America’s leading seaport by both container volume and cargo value, is dedicated to accelerating scientific collaboration, advancing an emerging blue economy through business innovation and job creation, and inspiring the next generation, all for a more sustainable, just, and equitable world. For more information on AltaSea, please visit: https://altasea.org.
Jacob Scott
jscott@vectisstrategies.com
412-445-7719
View source version on businesswire.com: https://www.businesswire.com/news/home/20240426710034/en/
-
How Anti-Obesity Drugs Are Innovating the Healthcare Market
-
What’s Happening In the Markets This Week
-
Why Immigration Has Boosted Job Gains and the Economy
-
What to Invest in During High Inflation
-
Never Mind Market Efficiency: Are the Markets Sensible?
-
Starbucks Stock Could Use a Pick-Me-Up After Big Selloff; Is it a Buy?
-
5 Cheap Stocks to Buy From an Attractive Part of the Market
-
Markets Brief: All Eyes On Inflation
-
After Earnings, Is Lyft Stock a Buy, a Sell, or Fairly Valued?
-
8 Stock Picks in the Apparel Industry
-
Baidu Earnings: Advertising Weakness Offset by Continued Growth In Cloud Business
-
Going Into Earnings, Is Target Stock a Buy, a Sell, or Fairly Valued?
-
Walmart Earnings: Low Prices and Strong Digital Presence Drive Market Share Gains
-
After Earnings and a Big Selloff, Is Shopify Stock a Buy, a Sell, or Fairly Valued?
-
Cisco Earnings: Positive Guidance and Splunk Inclusion Align With Our Long-Term Thesis
-
3 Warren Buffett Stocks to Buy After Berkshire Hathaway’s Just-Released 13F Filing